Singapore’s digital economy contributed about 17.3% of Singapore’s gross domestic product in 2022, higher than the 13% logged in 2017.
Singapore's digital economy contributed to more than 17% of its gross domestic product in 2022 — higher than the 13% logged in 2017.
SINGAPORE — Singapore's digital economy contributed to more than 17% of its gross domestic product in 2022 — higher than the 13% logged in 2017, according to aThe study, published Friday, revealed that the economic contribution of the digital economy to Singapore's GDP nearly doubled to 106 billion Singapore dollars in 2022, up from
Digitalization in the rest of the economy measures the value generated from investments and spending in digital capital across all sectors excluding those from the I&C sector. They include economic outcomes as a result of firms investing in digital technologies that build value such as reach customers better, optimize business processes as well as innovate products and services.
The value-add from digitalization in the rest of the economy increased from SG$38.6 billion in 2017 to SG$72.8 billion in 2022, driven mainly by sectors in finance and insurance, wholesale trade, and manufacturing.
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