The MTI revised its 2021 estimate upwards from the 7.6% initially released in February last year to account for data updates and revisions from various sources, including the annual sectoral surveys carried out in 2022.
Singapore’s GDP grew by 2.1% y-o-y in the 4Q2022, moderating from the 4.0% expansion in the previous quarter.
The GDP for the 4Q2022 brings the country’s full-year GDP to 3.6%, down from the Ministry of Trade and Industry’s (MTI) flash estimate of 3.8% and moderating from the 8.9% growth in 2021.
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