MTI Maintains 2022 GDP Growth Forecast at “3.0 to 5.0 Per Cent”

25 May 2022. The Ministry of Trade and Industry (MTI) today announced that the 2022 GDP growth forecast for Singapore has been maintained at “3.0 to 5.0 per cent”, with growth likely to come in at the lower half of the forecast range.

Economic Performance in First Quarter 2022

The Singapore economy grew by 3.7 per cent on a year-on-year basis in the first quarter, moderating from the 6.1 per cent expansion in the previous quarter. On a quarter-on-quarter seasonally-adjusted basis, the economy expanded by 0.7 per cent, slower than the 2.3 per cent growth in the fourth quarter of 2021.

Download the full press release [PDF, 179 KB]

Economic Survey of Singapore First Quarter 2022

MINISTRY OF TRADE AND INDUSTRY
25 May 2022