According to the Ministry of Trade and Industry of Singapore, Singapore’s economy in the first quarter of 2023 (Jan. – Mar. 23) was 0.7 percent, slightly higher than expected (0.6 percent), and slowed down by only 0.1 percent. from 2.1 percent compared to the fourth quarter of 2022 to 1.4 percent
The government estimates the economic growth rate in 2023 at 0.5 to 2.5 percent, with sectors related to aviation and tourism tending to grow better. But the export sector remains weak due to the global economic slowdown.
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