Singapore PESTLE Insights – A Macroeconomic Outlook Report
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Financial intermediation, real estate and business activities contributed 24.7% to Singapore’s gross value added (GVA) in 2022, followed by mining, manufacturing and utilities activities (22.7%), and wholesale, retail and hotels activities (21.4%). In nominal terms, the three sectors are forecasted to grow by 6.6%, 7.8%, and 7.0%, respectively, in 2023.
Singapore’s central region acts as hub for most of the financial and professional services firms. The western region is dominated by the port and water transport industry due to its proximity to the port, while the eastern region is dominated by the airline industry due to its proximity to Changi Airport.
Scope
In 2021, according to Singapore’s Deputy Prime Minister, the government issued $68 billion in new bonds to fund substantial infrastructure projects over a span of the next 15 years.
Key Highlights
The FSSTI Index has been on a volatile trend. As of October 4, 2023, the index stood at 3,184.5, compared to 3,138.9 on October 4, 2022.
Reasons to Buy
Macroeconomic Outlook Report identifies the potentials of the country as an investment destination by analyzing the political, economic, social, technological, legal and environmental (PESTLE) structure.
PESTLE Insights provides 360 degree view of the economy which can be used as a strategic tool to understand the market dynamics, business potentials and direction of operations
Along with providing the country’s snapshot, the report captures the risk factors pertaining to the macroeconomic risks, political environment, legal environment, demographic and social structure effectiveness, technology & infrastructure and natural and geographic aspects that might impact business.
This report also highlights key clusters/cities which contribute significantly to the country GDP and population along with major companies’ presence in these areas.
Wilmar
OCBC Bank
Table of Contents
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