On 26 March, MTI said it believed that the economy would contract by between 1% and 4% in 2020. 17 April 2020 - 17 May 2020 Cellarbration.com.sg Singapore could go into a recession in 2020 as the signs are there and if external conditions continue to deteriorate. Singapore gdp growth rate for 2017 was 3.70%, a 0.74% increase from 2016. Singapore also downgraded its 2020 forecast for non-oil domestic exports to -4.0% to -1.0%, from -0.5% to 1.5% previously. THE BUSINESS TIMES Singapore economy - Find Singapore economy News & Headlines, insight and analysis in Singapore, Asia-Pacific & global markets news at The Business Times. This is within the higher half of the Ministry of Trade and Industry's forecast range of … An animated overview of the Singapore economy, presenting the latest GDP, growth and industry breakdown, latest data and partners in investments in Singapore and abroad, profile of enterprises, and latest data and partners in trade in goods and services. Singapore's GDP growth is expected to rise to 4.8 per cent for 2021 as a whole.

May 26, 2020.

Skip to main content . This was after the economy shrank some 2.2% in the first quarter of 2020 from the same quarter in 2019. Singapore economy forecast to shrink 0.8% in 2020 from coronavirus hit: S&P The revised forecasts are based on government authorities estimating the pandemic to peak in June or August 2020.
Tue, May 26, 2020. Singapore gdp growth rate for 2016 was 2.96%, a 0.07% increase from 2015. The economy is expected to be sinking deeper into recession in the second quarter, after contracting at the sharpest rate in over a decade in the first quarter. SINGAPORE (Reuters) – Singapore downgraded its 2020 gross domestic product forecast for the third time on Tuesday, the trade ministry said, as the bellwether economy braces for its deepest ever recession. On 26 May, the Singapore economy contracted 0.7%YoY, which was better than the expected contraction of 2.2%. Based on advance estimates, the Singapore economy contracted by 2.2 per cent on a year-on-year basis in the first quarter of 2020, reversing the 1.0 per cent growth in the preceding quarter. Economic Performance in First Quarter 2020 The Singapore economy contracted by 0.7 per cent on a year-on-year basis in the ... Singapore's economy, a bellwether for global trade, could shrink by as much as 7.0 percent this … Singapore downgraded its 2020 gross domestic product forecast for the third time on Tuesday, the trade ministry said, as the bellwether economy braces for its deepest ever recession. Singapore's official growth forecast for 2020 has been downgraded, with authorities bracing for the possibility of a contraction should the novel coronavirus outbreak be more severe than anticipated, a scenario that economists say could set the stage for further monetary easing.