Singapore SMEs Network

The Singapore economy expanded by 0.7 per cent for the whole of 2019, slower than the 3.4 per cent growth recorded in 2018. For 2020, the GDP growth forecast has been downgraded to “-0.5 to 1.5 per cent”, with growth expected to come in at around 0.5 per cent, the mid-point of the forecast range. Read more https://bit.ly/2SBTORz.

Singapore’s economy grew by 3.2% in 2018. In particular, growth in the manufacturing sector, which expanded by 7.2%, was supported by the electronics, transport engineering and biomedical manufacturing clusters. The services producing industries also grew by 3%, mainly driven by the finance & insurance, business services and wholesale & retail trade sectors. Overall, the Singapore economy is expected to grow 1.5%-3.5% in 2019.

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