Figures released by Singapore's Ministry of Trade and Industry on Monday showed that the final GDP rose 1.3 per cent in the first quarter from a year earlier, up sharply from the initial figure of 0.2 per cent released last month, thanks to stronger-than-expected manufacturing output.
Compared with the fourth quarter of last year, GDP in the first quarter increased by 3.1 per cent on a quarter-on-quarter basis, much better than the 2 per cent reported last month.
However, Singapore's Ministry of Trade and Industry said that given the significant uncertainty caused by the COVID-19 pandemic, it would maintain its forecast for GDP growth of between 4 and 6 per cent in 2021.