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Singapore’s digital economy contributes 17.3% to GDP

Singapore's digital economy contributed 17.3% to economic growth and more than 200,000 tech jobs in 2022, according to new data released on October 6.
Singapore’s digital economy contributes 17.3% to GDP ảnh 1Illustrative image (Photo: Internet)

Singapore (VNA) – Singapore's digitaleconomy c🍃ontributed 17.3% to economic growth and more♍ than 200,000 tech jobs in2022, according to new data released on October 6.

The figures were published in a reportby the Infocomm Media Development Authority (IMDA) and Lee Kuan Yew School ofPublic Policy. Across various metrics, the report showedthat Singapore's digital economy expanded over the five-year period between2017 and 2022.

The report calculated the digital economy based on twocomponents. The first is the value-add or economic contribution of theinformation and communications (I&C) sector, which comprises digitalservices typically associated with the tech industry like telecommunications,computing and software.

The second is the value-add that non-digital industries havefrom embracing digital technologies and solutions.

IMDA chief executive Lew Chuen Hong said the Government aims to continue to trainmore of the work❀force to take on roles linked to the digital economy,regardless of workers’ backgrounds./.

VNA

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