{"id":777014694,"date":"2024-04-12T08:24:24","date_gmt":"2024-04-12T11:24:24","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777014694"},"modified":"2026-04-22T11:12:48","modified_gmt":"2026-04-22T14:12:48","slug":"singapore-gdp-up-2-7-in-q1","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/singapore-gdp-up-2-7-in-q1","title":{"rendered":"Singapore GDP up 2.7% in Q1"},"content":{"rendered":"\n

The growth was mainly driven by the services sector. <\/p>\n\n\n\n\n\n\n\n

Singapore.- Singapore’s Ministry of Trade and Industry (MTI) has reported that the country’s gross domestic product (GDP) was up 2.7 per cent in the first quarter of the year, driven by a growth in the services sector, particularly in accommodation services, due to a rise in international visitor arrivals.<\/p>\n\n\n\n

The services sector saw 3.2 per cent growth<\/strong> in the first three months of the year. However, the manufacturing sector, which heavily relies on exports saw just a 0.8 per cent increase compared to 1.4 per cent in the previous quarter. The electronics segment experienced a contraction, offsetting expansions in chemicals and precision engineering. The construction industry saw 4.3 per cent growth compared to 5.2 per cent in the previous quarter.<\/p>\n\n\n\n

See also: <\/strong>Singapore received 1.44 million visitors in February<\/a><\/p>\n\n\n\n

Looking ahead, Singapore projects economic growth between 1 per cent and 3 per cent, with expectations of a rebound in semiconductor exports and other key sectors.<\/p>\n","protected":false},"excerpt":{"rendered":"

The growth was mainly driven by the services sector.<\/p>\n","protected":false},"author":176,"featured_media":21791,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Singapore's GDP expanded by 2.7% in Q1, primarily driven by a 3.2% growth in the services sector, notably accommodation, due to increased international visitor arrivals. While manufacturing and construction sectors showed slower growth, the Ministry of Trade and Industry projects overall economic growth between 1% and 3% for the year, anticipating a rebound in key export-oriented sectors.","focusai_entities":"Ministry of Trade and Industry (MTI)","focusai_location":"Singapore","focusai_target_profile":"ceo_executive (0.9), regulator (0.7), operator_casino (0.8), investor_analyst (0.9), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Services Sector Impact","query":"What are the projected GGR implications for Singapore's integrated resorts given the robust growth in accommodation services and international visitor arrivals?"},{"label":"Economic Diversification Strategy","query":"How will the anticipated rebound in semiconductor exports influence Singapore's economic diversification strategy and its appeal for capital market investments beyond the services sector?"}],"footnotes":""},"categories":[157,16333],"tags":[23632,23907],"class_list":["post-777014694","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-south-east-asia-news","tag-integrated-resorts","tag-land-based-casino"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777014694","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=777014694"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777014694\/revisions"}],"predecessor-version":[{"id":777014712,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777014694\/revisions\/777014712"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/21791"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777014694"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777014694"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777014694"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}