World

Singapore records high economic growth in three years

The Singapore economy expanded by 4.6 percent year on year in the third quarter of this year, the highest growth in three years, according to the Ministry of Trade and Industry (MTI).
Singapore records high economic growth in three years ảnh 1Singapore records high economic growth in three years (Source: straitstimes)

Hanoi (VNA) – The Singapore economy expanded by 4.6 percent year onyear in the third quarter of this year, the highest growth in three years,according to the Ministry of Trade and Industry (MTI).

The figure is higher than the 2.9 percent growth in the previous quarter, theMIT said in a report on October 13.

According to the MTI, on a seasonally adjusted basis, the country’s GDP grew 6.3percent in the third quarter from 2.4 percent in the second quarter.

The increase was attributable to the robust manufacturing sector expansion, by15.5 percent year on year in the third quarter, in comparison to the 8.2percent growth in the previous quarter. The strong surge was seen in theelectronics, biomedical manufacturing and precision engineering clusters.

The service industries grew by 2.6 percent year on year in the reviewed quarter,a little higher than the 2.5 percent growth in the previous quarter. The growthwas largely supported by the finance-insurance, wholesale-retail trade andtransportation-storage sectors.

Meanwhile, the construction sector continued to decline, down by 6.3 percentfrom a year ago in the third quarter. The sector was weighed down primarily bycontinued weakness in private sector construction activities.

In August, Singapore's full year growth was forecast to come in the 2–3 percentrange, rather than the previous forecast of 1-3 percent.-VNA
VNA
#Singapore economy #Ministry of Trade and Industry #Singapore #economic growth #Vietnamplus #Vietnam News #Vietnam News Agency Singapore
Follow VietnamPlus

Related News

Singapore to establish cyber security academy

Singapore to establish cyber security academy

Singapore will set up a new academy to train cyber-security staff to serve the strategy on building a smart nation as well as counter increasingly sophisticated cyber threats, said an senior official.

See more

A photo of Lirang Island in the newly designated marine conservation area by the Ministry of Marine Affairs and Fisheries in the waters of West Wetar (Photo: antaranews.com)

Indonesia establishes new marine protected area

This area forms part of a vast ecosystem and serves as an important migratory corridor for many large marine species. The move aims to safeguard high-value biodiversity while ensuring the long-term sustainability of local coastal livelihoods.

Semiconductor wire production at an industrial park in former Hoa Binh province (now Phu Tho province). (Photo: VNA)

Vietnam’s GDP growth impressive amid global headwinds: Chinese media

It said with these results, the Vietnamese Government still has ample room to adjust monetary policy, unleash market vitality, and push ahead with institutional reforms. This, the paper noted, could enable Vietnam to achieve double-digit economic growth during the 2026-2030 period.

A voter casts her ballot in the general election at a polling station in Yangon, Myanmar. (Photo: Xinhua/VNA)

Myanmar begins second round of general election

This is the first election in Myanmar since the military government assumed power five years ago. A total of 57 political parties are participating in the election, including six parties running nationwide, with around 5,000 candidates vying for seats in the parliament.

A healthcare worker performs a swab test on a patient during influenza symptom screening at a community health centre in Banten, on January 7, 2026. (Photo: antaranews.com)

Indonesia reports first death related to so-called super flu

Yovita Hartantri, head of the New and Re-emerging Infectious Diseases Team at Hasan Sadikin Regional Hospital in Bandung, said the hospital treated 10 patients with influenza A subclade K between September and November last year. The patients exhibited a range of symptoms, with at least three developing severe complications.

Thailand enters technical deflation: Expert

Thailand enters technical deflation: Expert

Associate Professor Thanavath Phonvichai, President of the University of the Thai Chamber of Commerce and Chairman of the Centre for Economic and Business Forecasting, attributed the current bout mainly to lower production costs, particularly cheaper fuel and persistently low agricultural prices.

Indonesia spots four Sumatran tigers at national park

Indonesia spots four Sumatran tigers at national park

Camera traps installed in Bukit Tigapuluh National Park of Indonesia have recorded four individual Sumatran tigers (Panthera tigris sumatrae), providing strong evidence that the conservation area's ecosystem remains well preserved.