14/04/2021 10:51 (UTC)

Singapore emerges from recession with 0.2% GDP growth in Q1

Singapore, Apr 14 (EFE/EPA).- Singapore's gross domestic product (GDP) grew by 0.2% in the first quarter of 2021, the first expansion of the economy of the city-state since the start of the Covid-19 pandemic.

"The expansion is a strong signal that our economy is slowly but surely recovering from the unprecedented impact of Covid-19 last year," Trade and Industry Minister Chan Chun Sing said on Facebook after the release of the data.

The Asian nation, whose GDP shrank by 5.8% in 2020, has come out of recession, according to preliminary data announced by the Singaporean Ministry of Trade and Industry on Wednesday. (Camera: ARCHIVE).

B-ROLL OF SINGAPORE.

Metadata

Date: 14/04/2021 12:00 (UTC)
Credit: EFE
Source: EPA
Topic: Economy, business and finance
Type: Rough cut
Duration: 58 seconds
Reference: 7001063971
Relevance: Normal