Singapore's economy grows 3.9 percent year on year in Q2
Singapore's economy expanded 3.9 percent year on year in the second quarter of 2018, slightly above the advance estimate of 3.8 percent growth but lower than the median forecast of 4.1 percent.
Marina Bay Sands, a famous destination in Singapore (Photo: VNA)
Hanoi (VNA) - Singapore's economy expanded 3.9 percent yearon year in the second quarter of 2018, slightly above the advance estimate of 3.8percent growth but lower than the median forecast of 4.1 percent.
The Singaporean Ministry of Trade and Industry (MTI) announced on August13 that the city-state’s economy expanded 0.6 percent in the second quarterfrom the previous three months on an annualised and seasonally adjusted basis.
The growth was weaker than the initial estimate of a 1.0 percentexpansion published by the government in July and the median forecast of a 1.3percent rise in a Reuters survey.
The MTI also revised its first quarter growth to 2.2 percent from 1.5percent on a quarter-on-quarter basis and its first quarter year-on-year growthto 4.5 percent from 4.3 percent.
Looking ahead, the MTI said several of Singapore's key markets are expectedto see moderated growth in the second half of the year, and uncertainties anddownside risks in the global economy have increased.
Therefore, it forecast the pace of expansion in Singapore's economy isexpected to moderate in the second half of 2018, citing increased tradetensions between the US and China and tighter financial conditions globally.
However, the MTI maintained its growth forecast for this year at 2.5 to3.5 percent.-VNA
The Government of Singapore will continue investing in transport infrastructure to maintain the city-state’s position as a world-class city and key transport node between Asia and the world.
The Enterprise Singapore announced on May 17 that the country’s non-oil domestic exports (NODX) increased again in April after three consecutive months of declining, thanks to the higher increase in non-electronic exports over the decrease in electronic exports.
Singapore's non-oil domestic exports (NODX) rose 15.5 percent year-on-year in May, according to data released on June 18 by Enterprise Singapore, a government agency in charge of enterprise development.
Singapore’s economy in the second quarter of 2018 expanded just 3.8 percent from the same period last year, and only 1 percent from the previous quarter, a result slower than the median forecast of 4 percent and 1.2 percent in a Reuters poll of economists.
Singapore has become the third country to ratify the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), according to a statement by its Ministry of Industry and Trade on July 19.
The Republic of Korea (RoK), China and Japan agreed on May 3 to reinforce the regional financial safety net, along with members of the Association of Southeast Asian Nations (ASEAN), by launching a new financing facility programme meant to extend greater support in case of a financial crisis.
A technical issue combined with an extreme heatwave was blamed for a series of explosions at a military base that killed 20 soldiers and injured several others in Cambodia on April 27, the country’s Ministry of Defence said in a May 2 statement as reported by the Xinhua news agency.
The Customs Department of Thailand is scheduled to commence the collection of value-added tax (VAT) on imported goods sent via postal services, regardless of the goods value, starting in May.
A lecturer from Chulalongkorn University’s Faculty of Medicine has warned Thais to be more vigilant against COVID-19, saying infection rates appeare to be worsening with higher hospital admissions, deaths and severe cases.
Malaysia should harness the collective expertise and resources to drive sustainable growth and development of the halal industry, according to Minister of Investment, Trade and Industry Zafrul Abdul Aziz.
Laos has officially restored the 10% value-added tax (VAT) rate starting May 1, in a bid to support the country’s budget revenue and socio-economic development.
The ASEAN Future Forum 2024 (AFF 2024) entered its second plenary session in Hanoi on the afternoon of April 23, discussing ways to ensure comprehensive security for the people-centred ASEAN Community.
The first session of the ASEAN Future Forum 2024 (AFF 2024) in Hanoi on April 23 focused on fast and sustainable growth for the Association of Southeast Asian Nations (ASEAN).
The Canada-ASEAN Business Council (CABC) and the ASEAN Alliance on Carbon Markets (AACM) have signed a Memorandum of Understanding (MoU) to strengthen collaboration and accelerate the implementation of carbon crediting programmes across Southeast Asia.
ASEAN Secretary-General Kao Kim Hourn reaffirmed ASEAN leaders' commitment to empowering the youth to unleash their full potential when he had a dialogue with ASEAN youth in Hanoi on April 22 on the sidelines of the ASEAN Future Forum (AF 2024).
The Thai Government is being urged to increase the proportion of renewable power generation to more than the target of 50% set in the power development plan (PDP).
The Centre for Volcanology and Geological Hazard Mitigation (PVMBG) of Indonesia on April 21 lifted its tsunami advisory issued previously following the eruption of Mount Ruang in Sitaro district of North Sulawesi province.
Thailand expects to export about 1 million tonnes of durian, valued at an estimated 130 billion THB (3.53 billion USD) this year, with most of the shipments to China, according to Minister of Agriculture Thammanat Prompao.
The 72nd meeting of the ASEAN Working Group on Intellectual Property Cooperation (AWGIPC) and related meetings are being held by the Ministry of Science and Technology’s Intellectual Property Office (IPO) of Vietnam in the central city of Da Nang on April 22-26.
Enhancing regional food security and tackling the pressing challenges of climate change will be key agendas defining Malaysia’s ASEAN Chairmanship in 2025, Speaker of the Dewan Rakyat (lower house) Johari Abdul told the press on April 19.
Marina Bay Sands, a famous destination in Singapore (Photo: VNA)
