Singapore maintained its economic growth forecast for this year, reiterating its forecast of 4 per cent GDP growth in 2021.
Singapore's Ministry of Trade and Industry said in a statement on Tuesday that the economic performance in the first quarter was stronger than expected.
"although the recent tightening of domestic epidemic prevention restrictions and border control measures have had an impact on the economy," the statement said. "however, with the global economic recovery and further progress in domestic vaccination, the economy as a whole is still expected to recover this year."
Singapore's economy shrank 5.4 per cent last year, its worst performance in more than 50 years.
The Ministry of Trade and Industry reported that seasonally adjusted GDP rose 3.1 per cent in the first quarter from the previous quarter, better than the median estimate of 2.7 per cent from the survey.
GDP grew 1.3% year-on-year in the quarter, with a median estimate of 0.9% in a Bloomberg survey.