Singapore sees 2023 GDP growth as low as 0.5% as exports slump

City-state trims Q3 figure for this year, expects 'around 3.5%' expansion in 2022

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Singapore's nonoil exports shrank 5.6% on the year in October, breaking a nearly two-year streak of consistent expansion. © Reuters

DYLAN LOH, Nikkei staff writer

SINGAPORE -- Singapore on Wednesday projected its economic growth rate for next year to come in as low as 0.5%, as an export slump underscores a worsening global outlook.

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