Singapore's GDP growth slows to 3.8% in 2022 (Photo: VNA)
Singapore (VNA) - According to Singapore’s Ministry of Trade and Industry (MTI), the country’s economy grew 3.8% in 2022, slower than the 7.6% recorded in 2021.
The ministry said Singapore’s economy was expected to grow 2.2% in the fourth quarter of 2022, slowing from the revised 4.2% in the previous quarter.
All sectors expanded year-on-year in the fourth quarter except for manufacturing, which contracted 3% and marked a sharp reversal from the 1.4% growth in the third term.
The construction sector grew by 10.4% in the fourth quarter, accelerating from the 7.8% growth seen in the third quarter due to recovery in construction output in both public and private sectors. The services sector grew 4.1%, moderating from the previous term's 5.8% rise.
The city-state earlier projected that economic growth will slow further this year, coming in between 0.5% and 2.5%. Export demand continues to weaken, especially for electronics, and there is concern over a potential recession in advanced economies.
Inflation remains a downside risk in 2023. Even as the inflation rate has come off its peak, analysts expect it will likely remain elevated. Singapore's core consumer inflation, which excludes private transportation and accommodations, was up 5.1% on the year in November. This was unchanged from October, which marked the first dip since February 2022.
ᩚᩚᩚᩚᩚᩚᩚᩚᩚ𒀱ᩚᩚᩚ Gross domestic product (GDP) expanded 2.2% in October-December on a year-on-year basis, the government data showed, almost half of the 4.2% growth seen in the third quarter./.
The Vietnam - Singapore Industry 4.0 Innovation Centre recently made debut in the southern province of Binh Duong, aiming to not only support startups but also assist manufacturers to carry out reforms and raise labour productivity.
Singapore's core consumer prices in November 2022 rose 5.1% year on year, according to a report by the country’s Monetary Authority of Singapore (MAS) and Ministry of Trade and Industry (MTI).
The Singaporean Ministry of Health said on December 30 that the city-state is ready to step up border health measures if needed and that it is closely watching the global COVID-19 situation.
In his article, Oscar Sanchez Serra highlighted President Ho Chi Minh’s founding of the Thanh Nien (Young People) newspaper on June 21, 1925, which marked the birth of Vietnam's revolutionary press rooted in a bold and far-sighted vision.
Several ASEAN meetings are scheduled to take place in Port Dickson this September, including the Senior Officials' Meeting (SOM) for ASEAN Plus Three (APT), the East Asia Summit (EAS), the 15th ASEAN Maritime Forum, and the 13th Expanded ASEAN Maritime Forum.
Thailand's Prime Minister Paetongtarn Shinawatra has ordered the urgent implementation of a national policy to crack down on all forms of call centre scams, online fraud, and illegal gambling, which are now considered threats to national security.
Coordinating Minister for Economic Affairs Airlangga Hartarto and EAEU Trade Minister Andrey Slepnev jointly declared the conclusion of FTA talks on the sidelines of the 28th St. Petersburg International Economic Forum (SPIEF 2025), according to the statement.
The article stressed that throughout his revolutionary career, the founder of modern Vietnam consistently regarded the revolutionary press as a vital part of the Vietnamese Party’s and nation’s revolutionary struggle.
Pichai said the trade talks with the US are important and need to move forward professionally, without regard for any political changes in Thailand, believing that Thailand has clear principles, guidelines and procedures in place.
The tax adjustment supports the Malaysian Government’s strategy to reduce reliance on foreign food supply chains and to assist domestic farmers, a finance official has said.
The proposed venue is located in the Chatuchak area of Bangkok, featuring eight public sites, including Krungthep Aphiwat Central Terminal and several nearby parks.
Connectivity is expected to improve further with the completion of the fifth Laos–Thailand Friendship Bridge by the end of 2025, facilitating logistics and agricultural exports to Vietnam, Thailand, and China.
Two naval gunboats intercepted a fishing vessel carrying 1.5 tonnes of methamphetamine hydrochloride off the coast of the main island of Luzon just before dawn, in a joint operation with the Philippine Drug Enforcement Agency.
In the today context of socio-economic development and growth, the professionalism of Vietnam’s revolutionary journalists continues to rise, guided by exemplary mastery of new information technologies and the modernisation of their founding principles to preserve the enduring values of revolutionary journalism.
Thai Permanent Secretary of the Ministry of Commerce Vuttikrai Leewiraphan Thailand's formal proposal will be substantial enough for the US to consider further detailed negotiations. He hoped for a tariff rate not exceeding 10% and suggested that the US might extend the negotiation period if an agreement is not reached by the July 8 deadline.
Organised by the Ministry of Culture and the Association of Thai Silk & Culture Promotions, the event honors Her Majesty the Queen on her 47th birthday anniversary and promotes Thai craftsmanship on an international stage.
Prensa Latina's recent article on Vietnam’s assurance of smooth and effective transition to a leaner structure highlighted Prime Minister Pham Minh Chinh’s latest directions on implementing 28 resolutions regarding the decentralisation and delegation of authority.
The lab focuses on four key thematic areas: energy transition and green innovation, sustainable agriculture, circular economy and sustainable cities, and nature-based solutions and biodiversity.
The key content of the document titled "Accelerating Innovative Strategies: Addressing the OOSCY Challenges" will be refined further in a seminar preceding the 47th ASEAN Summit in Kuala Lumpur this October.
This follows Telegram’s serious failure to address the content that has been repeatedly reported to them, despite various efforts of negotiation and cooperation made by MCMC, it said.
Singapore's GDP growth slows to 3.8% in 2022 (Photo: VNA)
