Singapore’s economy grew 2.2% year on year in the fourth quarter of 2023, slower than the Government’s advance estimate and economists’ expectations. Full-year 2023 growth was 1.1%, down from 3.8% in 2022. Analysts had expected gross domestic product (GDP) growth of 2.5% in Q4 2023. Ministry of Trade and Industry (MTI) maintains its forecast for 2024 at 1-3%.
Singapore ’s economy grew 2.2% YoY in Q4 2023 , slower than expected. Full-year growth for 2023 was 1.1%, down from 3.8% in 2022. Analysts had expected 2.5% growth in Q4 2023 . MTI maintains its forecast for 2024 at 1-3%.
Singapore Economy Growth Q4 2023 Forecast GDP
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