Illustrative image (Source: Internet)

 

Hanoi (VNA) – The Singaporean Ministry of Trade and Industry reported on February 14 that the country’s fourth-quarter economic growth was at the slowest pace in the past more than two years, warning that manufacturing is likely to see a significant moderation this year.

From a year earlier, Singapore’s gross domestic product (GDP) grew 1.9 percent in the fourth quarter, less than the 2.2 percent advance estimate.

For the whole 2018, Singapore’s economy expanded by 3.2 percent, lower than a 3.6 percent growth in 2017.

Apart from the US – China trade war, slow growth of the Chinese economy and Brexit impact are considered causes hurting Singapore’s exports and economy.

The ministry kept Singapore's 2019 GDP growth forecast at between 1.5 and 3.5 percent.

Trade ministry official Loh Khum Yean said electronics manufacturing and export, and semi-conductors will be hurt while services are likely to slow.-VNA