23 November 2022. The Ministry of Trade and Industry (MTI) announced today that Singapore’s GDP growth is projected to come in at “around 3.5 per cent” in 2022 and “0.5 to 2.5 per cent” in 2023.
Economic Performance in Third Quarter 2022
In the third quarter of 2022, the Singapore economy expanded by 4.1 per cent on a year-on-year basis, easing from the 4.5 per cent growth in the previous quarter. On a quarter-on-quarter seasonally-adjusted basis, the economy grew by 1.1 per cent, reversing the 0.1 per cent contraction in the second quarter.