, Singapore
Photo by Christina Morillo from Pexels

Contribution of digital economy to SG rises to $106b in 2022

The figure translates to 17.3% of Singapore's GDP last year.

The digital economy's contribution to Singapore's gross domestic product (GDP) rose in 2022, data from the Infocomm Media Development Authority (IMDA) showed.

With $106m of contribution, the digital economy accounted for 17.3% of GDP last year, up from 13% in 2017.

Between 2017 and 2022, the digital economy's contribution rose by $48b.

Amongst  sectors, Information and Communications (I&C) had the biggest contribution to Singapore''s economy, contributing $33b or 5.4% of the 2022 GDP

In 2017, I&C contributed $19b or 4.3% of GDP. I&C was the fastest-growing sector between 2017 and 2022, said IMDA.

IMDA"s report also revealed that the technology adoption rate amongst Small and Medium Enterprises (SMEs) rose from 74% in 2018 to 94% in 2022. The average technology adoption intensity by SMEs has also increased from 1.7 to 2.1 over the same period.

The expansion of the digital economy resulted in the growth of tech manpower. The number of tech professionals has increased from around 155,500 in 2017 to 201,100 in 2022, driven by demand across all sectors. 

The share of tech professionals out of total employment reached 5.2% in 2022, up from 4.2% in 2017. In addition, around 57% of the tech jobs in 2022  came from the rest of the economy beyond the I&C sector.

Follow the link for more news on

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Event News

Event News

SBR Technology Excellence Awards 2024 Winner: Gulf Marine Pte. Ltd. Information Technology
Gulf Marine, a leading marine lubricant provider, was recognised at the SBR Technology Excellence Awards 2024 under the Enterprise Software - Marine Services category for their Project Orchestrate, a solution that automates tasks and empowers employees. 
Information Technology SBR Technology Excellence Awards 2024 Winner: Gulf Marine Pte. Ltd.
Gulf Marine, a leading marine lubricant provider, was recognised at the SBR Technology Excellence Awards 2024 under the Enterprise Software - Marine Services category for their Project Orchestrate, a solution that automates tasks and empowers employees.