Question

Mr Desmond Choo: To ask the Minister for Trade and Industry (a) what is the proportion of companies in Singapore that are profitable over the last three years; and (b) how has the profitability of the companies changed over the same time period.

Written Answer by Minister for Trade and Industry Gan Kim Yong

1. Based on the latest available data, 66% of firms on average were profitable over the period of 2020 to 2022. The median profitability rate, or profits divided by revenue of these firms, was stable at around 17% over the same period.