HANOI, OCT 30 – Singapore’s digital economy will account for 17.7 percent of gross domestic product (GDP) in 2023, up from 17.3 percent the previous year, according to the Infocomm Media Development Authority (IMDA), Vietnam News Agency reported. VNA.
IMDA stated that Singapore’s digital economy is growing at a compound annual growth rate of 11.2 percent from 2018 to 2023, almost double the nominal GDP growth rate over the same period.
The value of Singapore’s digital economy consists of the value added of the information and communications sector, as well as the value added figure from digitization across the economy.
Singapore’s digital economy is also fueling job growth in the technology sector, with the number of jobs increasing by 3.4 percent year-on-year to 208,300 in 2023, according to VNA.
The demand for high-quality human resources in the field of technology continued to increase last year even though companies were more careful in hiring. – Named
