Singapore's GDP expands 4.4% in 2024 on trade, tourism rebound

City-state keeps forecast of 1% to 3% expansion in 2025 amid uncertainty

Tourists swim on the rooftop pool of Marina Bay Sands hotel in Singapore, pictured in November. The tourism growth contributed to a robust GDP expansion in the city-state in 2024. © Reuters

TSUBASA SURUGA

February 14, 2025 09:00 JST

SINGAPORE -- Singapore's economy grew 4.4% in 2024 from a year earlier, government data showed Friday, on the back of stronger-than-expected rebounds in exports and tourism.

The annual growth figure was revised upward from a preliminary estimate of 4%, according to Ministry of Trade and Industry data. Annual gross domestic product growth last year was stronger in 2024 than a revised 1.8% recorded the previous year.