Business sentiments remained weak but saw modest growth in July to September 2023 Infographics can be found at the end of the article.   Despite weak global demand and tight financial conditions, Singapore’s economy grew modestly in the third quarter of 2023 (July to September). The Ministry of Trade and Industry (MTI) reported advance estimates […]

Weaker business sentiments seen in the latest quarter (Apr-Jun 2023) (Business Sentiment Survey Q1’FY23) Singapore’s economy experienced modest growth in the second quarter of 2023, narrowly avoiding a recession. The reopening of China raised expectations for continued economic recovery in trade and tourism that will benefit Singapore’s economy. However, export demand has waned due to […]

Business sentiments of Singapore companies (Fourth Quarter of FY2022: January to March 2023) The Ministry of Trade and Industry (MTI) has maintained a range of 0.5 percent to 2.5 percent for Singapore’s growth forecast for 2023, as data showed that the economy grew slower than expected last year. However, while MTI kept to its earlier […]

Perception of government support for businesses in Singapore Singapore is well known for its business-friendly environment for companies. Some factors contributing to this positive perception include the ease of starting a business, excellent infrastructure, a highly educated workforce, pro-enterprise laws and tax system, and good government support and policies for businesses. The World Bank has […]

Business sentiments of Singapore companies (Second Quarter of FY2022: July to September 2022) The Singapore economy is moving more cautiously towards post-pandemic recovery with a lower estimated economic forecast for the latter half of 2022. In August 2022, the Ministry of Trade and Industry (MTI) narrowed Singapore’s 2022 Gross Domestic Product (GDP) growth forecast to […]

Business sentiments of local companies on the Singapore economy and industries (First Quarter FY2022: April to June 2022) Even as the Singapore economy continues on the path to post-pandemic recovery, the Ministry of Trade and Industry (MTI) announced in May that the 2022 Gross Domestic Product (GDP) growth forecast for Singapore will be maintained at […]

Business Sentiments of Local Companies (FY21 Q4: Jan to Mar 2022)   Singapore businesses remained optimistic about revenue and manpower outlook in the period of January to March 2022. The relatively positive outlook of Singapore’s economy might be attributable to the falling COVID-19 daily case numbers and a decline in the hospitalisations and ICU numbers, […]