SINGAPORE — The Singapore economy grew 0.1 per cent year-on-year in the first quarter of 2023, slowing from 2.1 per cent growth in the previous quarter, according to official estimates released on Friday (April 14).
On a quarter-on-quarter seasonally adjusted basis, Singapore’s gross domestic product came in at 0.7 per cent after expanding marginally by 0.1 per cent in the previous quarter, the Ministry of Trade and Industry said.
The government had projected GDP growth of 0.5 to 2.5 per cent for this year. While the growth outlook for aviation and tourism-related sectors has improved, externally oriented sectors remain weak given the broader slowdown in the global economy, it said.MANUFACTURING SECTOR SEES FURTHER CONTRACTION
The construction sector grew by 8.5 per cent year-on-year in the first quarter, extending the 10.0 per cent growth in the previous quarter. The sectors as a group contracted by 1.0 per cent in the first quarter, extending the 1.6 per cent contraction in the fourth quarter of 2022.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Singapore economy grew 0.1% in Q1, slowing from 2.1% in previous quarter: MTI advance estimatesSINGAPORE: The Singapore economy grew 0.1 per cent year-on-year in the first quarter of 2023, slowing from 2.1 per cent growth in the previous quarter, according to official estimates released on Friday (Apr 14). The figure is lower than the 0.6 per cent expected by
Read more »
Stepping up our game to combat piracy and protect the waters around SingaporeAt around 10pm (Singapore time) on Monday (April 10), a Singapore-registered tanker, SUCCESS 9, was boarded by pirates about 300 nautical miles off the Abidjan Coast, Côte d’Ivoire. According to the Maritime and Port Authority of Singapore (MPA), the ship has a 20-member crew of various nationalities, one of whom is a Singapore citizen. MPA says it is 'working closely...
Read more »
Singapore oil tanker boarded by 'unidentified persons' off Ivory Coast on April 10SINGAPORE/ABIDJAN — A Singapore-registered oil tanker was boarded by 'unidentified persons' about 300 nautical miles (555km) off Ivory Coast in the Gulf of Guinea on Monday (April 10), the city-state's authorities said on Tuesday night. The Maritime and Port Authority of Singapore (MPA) said that the tanker Success 9 had 20 crew onboard of various nationalities, and one of them...
Read more »
Singapore biotech firms expand to the US, drawn by market size and experienced workforceAnother sector that Singapore companies are trying to break into is the US educational tech industry.
Read more »
5 Singapore Stocks Warren Buffett Will Feel Comfortable BuyingStability and copious positive cash flows are what the Oracle of Omaha looks for. The post 5 Singapore Stocks Warren Buffett Will Feel Comfortable Buying appeared first on The Smart Investor.
Read more »
Singapore's Q1 GDP likely slowed, complicating central bank's task: PollSINGAPORE: Singapore's economy is likely to have expanded at a slower pace in the first quarter, posing a challenge for the central bank as it seeks to balance containing persistent inflation with efforts to shore up weakening growth. Preliminary data due on Friday (Apr 14) is seen showing gross domestic p
Read more »