Singapore’s economic growth slows to 3.8% in 2022; outlook darkens for 2023

Anaemic global growth has already started to hit merchandise exports from Asia, pulling the region’s manufacturing sector into recession territory. - ST FILE

SINGAPORE (The Straits Times/Asia News Network): Singapore’s economy grew by 3.8 per cent in 2022, slowing sharply from the 7.6 per cent growth achieved a year earlier, said the Ministry of Trade and Industry (MTI) on Tuesday (Jan 3).

In the fourth quarter, the economy expanded 2.2 per cent on a year-on-year basis, moderating from the 4.2 per cent growth in the previous quarter.