singaporesingapores economy grew at a slower pace in the fourth quarter of 2022 mainly due to a contraction in the manufacturing sector and slower growth in some other sectors gross domestic product in the quarter ended december expanded 21 compared with the same period a year earlier according to revised data released by the ministry of trade and industry on monday that compared with the advance estimate of 22 growth and with the 40 expansion in the third quarter for the whole of 2022 singapores economy grew 36 the revised data showed that compared with the advance estimate of 38 growth and with the 89 expansion in 2021 manufacturing in the fourth quarter contracted 26 from a year earlier reversing from the 11 expansion in the prior quarter the revised data showed the contraction was due to a contraction in output in the biomedical manufacturing chemicals electronics and general manufacturing clusters the mti said the wholesale trade sector in the fourth quarter grew 24 from a year earlier versus a 41 expansion in the third quarter the retail trade sector grew 51 on year slowing from the 88 growth in the prior quarter growth in the transportation and storage sector slowed to 25 in the fourth quarter from 61 expansion in the third quarter goodsproducing industries shrank 11 in the fourth quarter reversing from the 18 expansion in the prior quarter while servicesproducing industries expanded 40 slowing from the 55 growth in the third quarter singapores gdp grew 01 in the fourth quarter on a quarteroverquarter seasonally adjusted basis the revised data showed that compared with the advance estimate of 02 expansion and with the 08 expansion in the third quarter taking into account the global and domestic economic environment singapores 2023 gdp growth forecast is maintained at 05 to 25 the mti said