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Singapore's economy grew 3.8% in 2022, beating official forecasts
CGTN
Tourists gather on a jetty around the Merlion next to the financial business district in Singapore. /AFP
Tourists gather on a jetty around the Merlion next to the financial business district in Singapore. /AFP

Tourists gather on a jetty around the Merlion next to the financial business district in Singapore. /AFP

Singapore's economy grew 3.8 percent in 2022, preliminary data showed on Tuesday, beating government expectations but slower than the previous year.

The government's official forecast for growth in 2022 was 3.5 percent, slower than the 7.6 percent in 2021.

Gross domestic product (GDP) expanded 2.2 percent in October-December on a year-on-year basis, the Ministry of Trade and Industry said in a statement. Eight economists polled by Reuters had expected growth of 2.1 percent.

GDP grew 0.2 percent on a quarter-on-quarter seasonally adjusted basis in October-December.

Singapore Prime Minister Lee Hsien Loong said in his New Year message on Saturday that the international outlook remains troubled, which will affect the city-state's economy. The government expects growth of between 0.5 percent and 2.5 percent this year.

(Reuters with edits)

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