Singapore GDP 2022 +3.6%

According to the latest data released by the Ministry of Trade and Industry of Singapore, the country’s economy expanded by 3.6 per cent in 2022, slower compared to the 8.9 per cent growth of 2021, and below government estimates of 3.8 per cent.

GDP expanded by 2.1 per cent in Q4 2022 year on year, decelerating from the 4 per cent reached in the previous quarter.

For 2023 the country is expecting a GDP growth between 0.5 to 2.5 per cent.

The Association of Southeast Asian Nations (ASEAN) is a political and economic union of ten members, has 667 million people and a territory of 4.5 million Km2; is currently the third largest economy in Asia-Pacific and the fifth largest in the World. The ASEAN Economic Community (AEC) has a combined GDP of USD 3.6 trillion, according to estimates for 2022.