With the richest economy in Southeast Asia, Singapore has staged
a positive turnaround over the past year, going from the edge of
recession to its fastest pace of growth in almost 50 years
(expanding 3.1% in the last three months of 2017).
Economic outlook of Singapore
Singapore economy grew 3.5% in 2017 supported
by the 3.1% growth in the fourth quarter from a year earlier,
easing from growth of 5.4% in the previous quarter. A continued
rise in demand for electronic gadgets, growth in exports and
boosted investment spending due to the recent US tax reform have
all been contributors.
While growth is expected to stabilise in 2018, Singapore's
key industries and their digitisation and transformation, are
likely facilitators of longer term sustainable growth. However,
here, a key concern is the job market, which has experienced an
upward trend in the long-term unemployment rate for Singaporean and
permanent residents in the past two years, despite showing
