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Singapore’s GDP expands in fourth quarter of 2019

Singapore’s gross domestic product (GDP) expanded 0.8 percent year-on-year in the final quarter of 2019.

Marina Bay in Singapore (Photo: VNA)


Hanoi (VNA) – Singapore’s grossdomestic product (GDP) expanded 0.8 percent year-on-year in the final quarterof 2019.

The figure was higher than the adjusted growthof 0.7 percent in the third quarter of the year, according to the Ministry ofTrade and Industry (MTI).

The expansion was significantly driven by theservices sector, which has helped compensate for a prolonged manufacturingslowdown.

Experts forecast Singapore’s economy willachieve a growth rate of 1.5-1.9 percent in 2020, while the MTI forecast the growthof 0.5-2.5 percent./.

VNA
#gross domestic product (GDP) #Ministry of Trade and Industry (MTI) #manufacturing #growth #economy #fourth quarter #Vietnamplus #Vietnam News Agency Singapore
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