Manufacturing Leads Singapore's GDP Growth With 11% YoY Rise in Q3
Manufacturing Leads Singapore's GDP Growth With 11% YoY Rise in Q3
On the flip side, growth in the service and construction sectors fell to 0.9% quarter-on-quarter (QoQ).GDP is expected to drop in 2025.
预计2025年GDP将下降。
Singapore's gross domestic product (GDP) grew by 5.4% year-on-year (YoY) in Q3 2024, driven primarily by the manufacturing sector, Oxford Economics reported.
根据牛津经济的报告，新加坡2024年第三季度的国内生产总值（GDP）同比增长了5.4%，主要受到制造业板块的推动。
The manufacturing sector saw an 11% YoY increase, recovering from the 1.1% contraction in Q2. Domestic electronic products also grew by 17% YoY during the same period.
制造业板块同比增长了11%，从第二季度的1.1%收缩中恢复过来。同期，国内电子产品也同比增长了17%。
On the flip side, growth in the service and construction sectors fell to 0.9% quarter-on-quarter (QoQ).
另一方面，服务业和施工板块的环比增长降至0.9%。
In 2025, Singapore's exports are expected to benefit from the ongoing upturn in the global tech cycle but at a slower pace.
在2025年，新加坡的出口预计将受益于全球科技周期的持续上行，但增速将放缓。
Oxford Economics said that with global growth projected to rise slightly to 2.8% in 2025 from 2.7% this year, export growth is expected to remain cautious, limiting potential gains in business investments.
牛津经济表示，预计全球增长将在2025年从今年的2.7%略微上升至2.8%，出口增长预计将保持谨慎，限制业务投资的潜在收益。
Meanwhile, private consumption is expected to decrease to 2.5% in 2025, down from 6.1% growth this year, primarily due to fewer interest rate cuts following Trump's re-election.
与此同时，私人消费预计将在2025年降至2.5%，低于今年的6.1%增长，这主要是由于特朗普连任后利率减息的次数减少。
