Marina Bay in Singapore (Photo: VNA) Hanoi (VNA) – Singapore’s gross domestic product (GDP) expanded 0.8 percent year-on-year in the final quarter of 2019.
The figure was higher than the adjusted growth of 0.7 percent in the third quarter of the year, according to the Ministry of Trade and Industry (MTI).
The expansion was significantly driven by the services sector, which has helped compensate for a prolonged manufacturing slowdown.
Experts forecast Singapore’s economy will achieve a growth rate of 1.5-1.9 percent in 2020, while the MTI forecast the growth of 0.5-2.5 percent./.
VNA
