Singapore’s economy grew 3.2 per cent last year, down from 3.9 per cent in 2017

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The trade and industry ministry said it was maintaining its forecast for growth of 1.5 per cent to 3.5 per cent in 2019, but that it expected growth to be slightly below the middle of the range.

Singapore’s gross domestic product (GDP) grew 3.2 per cent in 2018, down from 3.9 per cent in 2017, according to the 2018 Singapore economic survey report released by the ministry of trade and industry on feb 15, 2019.

The government had previously forecast GDP growth of 3.3 per cent in 2018, based on data from October and November.

Singapore’s manufacturing sector grew 7.2 per cent in 2018, led by electronics manufacturing, transport engineering and biomedicine, according to the latest report. However, the increase was slower than the 10.4 per cent recorded in 2017.

In addition, Singapore construction dropped 3.4 percent in 2018, which is better than the 10.2% drop in 2017; Services grew 3 percent in 2018, down from 3.2 percent in 2017.

The trade and industry ministry said it was maintaining its forecast for growth of 1.5 per cent to 3.5 per cent in 2019, but that it expected growth to be slightly below the middle of the range.


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Via:第一財經-News