The Singaporean economy grew only 0.1% year-on-year in the first quarter of 2023, slowing from 2.1% growth in the previous quarter, according to official estimates released by the Ministry of Trade and Industry (MTI) on April 14.
Singapore (VNA) - The Singaporean economy grew only 0.1% year-on-yearin the first quarter of 2023, slowing from 2.1% growth in the previous quarter,according to official estimates released by the Ministry of Trade and Industry(MTI) on April 14.
The figure is lower than the 0.6% expected by 19 economistsin a Reuters poll.
The manufacturing sector contracted by 6% year-on-year inthe first quarter of 2023, worsening from the 2.6% contraction in the previousquarter.
The weak performance of the sector was due to outputcontractions across all the manufacturing clusters, except for the transportengineering cluster.
Meanwhile, the construction sector grew by 8.5% year-on-year in thefirst reviewed period, down from the 10% growth in the previous quarter.
According to the MTI, the advance GDP estimates are computedlargely from data gathered in the first two months of the quarter.
They are intended as an early indication of GDP growth inthe quarter and are subject to revision when more comprehensive data becomeavailable.
The government projected GDP growth of 0.5-2.5% for thisyear, lower than the 3.6% of last year./.
The Monetary Authority of Singapore (MAS) said on March 23 that the Nexus Project prototype of the Bank for International Settlements (BIS) has successfully connected with the payment systems of Europe, Malaysia and Singapore.
Singapore’s business outlook for the second quarter of 2023 has darkened again, weighed down by negative sentiment in the manufacturing and wholesale trade sectors, according to the latest Business Optimism Index (BOI) released by the Singapore Commercial Credit Bureau (SCCB).
The Singapore Tourism Board (STB) announced on April 7 that the Southeast Asian country welcomed more than 2.9 million visitors in the first quarter of this year, about two-thirds of pre-COVID-19 figures as the recovery of the tourism sector continues.
Singapore’s President Halimah Yacob has laid out the key priorities for the rest of this government’s term at the opening of the second session of the 14th parliament on April 10.
Two naval gunboats intercepted a fishing vessel carrying 1.5 tonnes of methamphetamine hydrochloride off the coast of the main island of Luzon just before dawn, in a joint operation with the Philippine Drug Enforcement Agency.
In the today context of socio-economic development and growth, the professionalism of Vietnam’s revolutionary journalists continues to rise, guided by exemplary mastery of new information technologies and the modernisation of their founding principles to preserve the enduring values of revolutionary journalism.
Thai Permanent Secretary of the Ministry of Commerce Vuttikrai Leewiraphan Thailand's formal proposal will be substantial enough for the US to consider further detailed negotiations. He hoped for a tariff rate not exceeding 10% and suggested that the US might extend the negotiation period if an agreement is not reached by the July 8 deadline.
Organised by the Ministry of Culture and the Association of Thai Silk & Culture Promotions, the event honors Her Majesty the Queen on her 47th birthday anniversary and promotes Thai craftsmanship on an international stage.
Prensa Latina's recent article on Vietnam’s assurance of smooth and effective transition to a leaner structure highlighted Prime Minister Pham Minh Chinh’s latest directions on implementing 28 resolutions regarding the decentralisation and delegation of authority.
The lab focuses on four key thematic areas: energy transition and green innovation, sustainable agriculture, circular economy and sustainable cities, and nature-based solutions and biodiversity.
The key content of the document titled "Accelerating Innovative Strategies: Addressing the OOSCY Challenges" will be refined further in a seminar preceding the 47th ASEAN Summit in Kuala Lumpur this October.
This follows Telegram’s serious failure to address the content that has been repeatedly reported to them, despite various efforts of negotiation and cooperation made by MCMC, it said.
Efforts to empower women must transcend dialogue and translate into concrete commitments, including corporate pledges and government partnerships, according to the spouse of Malaysian Prime Minister Anwar Ibrahim.
The forum featured two in-depth discussion sessions, engaging representatives from governments, think tanks, and businesses from both ASEAN and China, on how to forge closer ties for a common future.
The new FIFA Hub in Jakarta will not only support football development in Indonesia but also serve as a coordination centre for 21 football associations across Southeast and East Asia.
Minister Counselor Nguyen Hoang Nguyen reaffirmed Vietnam’s principled and consistent stance on the Palestine issue, calling for an immediate and lasting ceasefire across the entire Gaza Strip.
PM Anwar Ibrahim affirmed the determination of Malaysia, as ASEAN Chair for 2025, to utilise all viable regional mechanisms of the bloc and work with partners to de-escalate violence and restore a peace process led by Myanmar.
Talking to the Vietnam News Agency on the occasion of the 100th anniversary of the Vietnam’s Revolutionary Press Day (June 21, 1925–2025), Nikulina, who is also a veteran journalist of Russia’s Sputnik News, emphasised the vital role of mainstream journalism in defending the truth and maintaining public trust.
The Ministry of Commerce reported that imports also rose 18% to 29.9 billion USD during the same period, resulting in a trade surplus of 1.1 billion USD. In May alone, Thailand posted a 4.6 billion USD trade surplus with the US and a 4.1 billion USD trade deficit with China.
The World Bank will provide a 2.1 billion USD financing package for Indonesia, focusing oncreating jobs, stimulating economic growth, and enhancing access to clean energy across the country.
Member states also reviewed progress on six priority areas for 2025, including the development of an underground cable framework, the follow-up agreement to the ASEAN Petroleum Security Agreement (APSA), the launch of the ASEAN Energy Efficiency Database, and the rollout of an investment platform for sustainable building initiatives.
In March, Thai Prime Minister Paetongtarn Shinawatra met with Formula 1 chief Stefano Domenicali and said Thailand would commission a feasibility study into hosting a Grand Prix on a Bangkok street circuit from 2028.
The proposed giant sea wall aligns with bilateral cooperation and has been designated a national priority, considering that several regions in Indonesia are experiencing land subsidence of 10–15 centimetres per year.
Illustrative image (Photo: VNA) 
