Growth in the food services sector was boosted by easing of pandemic-related restrictions on restaurants and other food outlets during the second quarter. The service sector also recorded expansion of 4.7% y/y in the second quarter of 2022. Construction output grew by 3.8% y/y in the second quarter, with the easing of border restrictions having helped migrant labor inflows for the construction industry. Manufacturing output rose by 8.0% y/y in the second quarter, driven by rapid expansion in electronics and precision engineering output. However, second quarter GDP was unchanged on a quarter-on-quarter, seasonally-adjusted basis, compared to the 0.9% expansion in the first quarter of 2022. The Singapore economy grew by 4.8% y/y in the second quarter of 2022, according to the advance estimate of GDP released by Singapore's Ministry of Trade and Industry (MTI). A number of new vaccine manufacturing plants are currently under construction in Singapore, including by Sanofi, BioNTech and Hilleman Laboratories. Singapore's manufacturing output grew by 13.8% y/y in May 2022.Дespite the economic disruptions caused by the COVID-19 pandemic, Singapore has continued to attract strong foreign direct investment inflows, notably into electronics and pharmaceuticals manufacturing. This follows GDP growth of 7.6% in 2021 as the economy rebounded from the impact of the COVID-19 pandemic. The advance estimate of GDP for the second quarter of 2022 was up 4.8% year-on-year (y/y), after growth of 4.0% y/y in the first quarter. Singapore's economy has continued to recover from the COVID-19 pandemic in the first half of 2022.

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