Singapore GDP

Economy grows 1.1% in 2023; MTI retains 2024 growth forecast at 1.0%-3.0%

Economic growth moderated from 2022, when Singapore recorded a 3.8% YoY expansion.

Singapore’s economic upswing unlikely to last: experts

In 2023, experts predict a GDP growth of 0.7% for Singapore.

MTI narrows 2023 GDP growth forecast range to 0.5%-1.5% 

‘Weak external demand outlook’ for the rest of 2023 was cited as the reason for the move.

Economy slightly grows in 2Q23: flash estimates

It grew 0.7% YoY from 0.4% YoY in 1Q23.

Economy slows to 0.4% growth in Q1

The recovery of international visitor arrivals propels growth in accommodation and IT sectors.

GDP to expand 0.5% to 2.5% in 2023: MTI

External demand outlook has weakened as US, Eurozone economies decelerate.

Singapore's private consumption to recover in 2H23

RHB expects a 3.8% YoY consumption growth.

3 factors weighing down Singapore’s economic growth

Analysts expect full-year GDP growth to clock in at 1.4%, lower than the 2022 record.

SG likely to enter ‘technical recession’ in H1

Experts believe SG’s growth momentum will continue to slow in Q2.

Economic growth to slow down in 2023

UOB expects full-year GDP to grow by only 0.7%.

GDP growth to ease in 2023 at 0.5%-2.5%

In 2022, the economy expanded by 3.6%.

Possible recession in H1 23 is likely a ‘shallow one:’ RHB

This despite the further stress predicted in the first half of 2023.

How industries performed as Singapore economy growth eases

The economy eased by 4.1% in the third quarter of 2022.