Singapore Q3 GDP grows 4.1%, fastest in 2 years as exports recover

Central bank maintains tight monetary policy amid sticky inflation

20241011 Merlion Park in Singapore

Singapore's GDP grew 4.1% year-on-year in the third quarter of 2024. © AP

TSUBASA SURUGA, Nikkei staff writer

SINGAPORE -- Singapore's economy grew 4.1% in the July-September period from a year earlier, preliminary data showed Monday, recording its fastest pace in two years and accelerating from a 2.9% expansion in the previous quarter.

The export-driven manufacturing sector grew 7.5% from a year earlier, while output in the more domestically oriented services sector was up 3.3% and the construction industry expanded 3.1%, according to the Ministry of Trade and Industry.

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