Singapore cuts Q2 GDP growth to 4.4%, downgrades range for 2022

Full-year forecast trimmed to 3-4% amid Ukraine disruptions, Taiwan tensions

Singaporean Prime Minister Lee Hsien Loong has warned of "profound implications" from the Ukraine war for Asia and the city-state, economically and in terms of security. © Reuters

DYLAN LOH, Nikkei staff writer

August 11, 2022 09:09 JST

Updated on August 11, 2022 10:06 JST

SINGAPORE -- Singapore on Thursday revised its second-quarter growth rate downward to 4.4%, from the preliminary 4.8%, citing a deteriorating global economic environment.

Amid concerns over persistent inflation, disruptions from Russia's invasion of Ukraine, and China's struggle to contain COVID-19 outbreaks with its zero-infection approach, trade officials also lowered their expectations for full-year gross domestic product growth to between 3% and 4%, narrowing the previous range of 3% to 5%.