October 07, 2023 | 20:36 (GMT+7)
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.
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(Photo for illustration: internet) |
The figures were published in a report by the Infocomm Media Development Authority (IMDA) and Lee Kuan Yew School of Public Policy.
Across various metrics, the report showed that Singapore's digital economy expanded over the five-year period between 2017 and 2022.
The report calculated the digital economy based on two components. The first is the value-add or economic contribution of the information and communications (I&C) sector, which comprises digital services typically associated with the tech industry like telecommunications, computing and software.
The second is the value-add that non-digital industries have from embracing digital technologies and solutions.
IMDA chief executive Lew Chuen Hong said the Government aims to continue to train more of the workforce to take on roles linked to the digital economy, regardless of workers’ backgrounds.
Source: VNA