Markets Actual Q4 Q1 Q2 Q3 2020
Currency 1.37 1.39 1.39 1.39 1.4 1.4
Stock Market (points) 3123.98 3089 3059 3029 3000 2941
Government Bond 10Y (%) 1.66 1.77 1.8 1.83 1.87 1.93
Overview Actual Q4 Q1 Q2 Q3 2020
GDP Growth Rate (%) 0.60 0.5 0.5 1 -2.5 1.7
GDP Annual Growth Rate (%) 0.10 0.5 1.5 1.9 2 1.8
Unemployment Rate (%) 2.20 2.1 2.3 2.4 2.5 2.4
Inflation Rate (%) 0.50 1.2 1.4 1.6 1.5 1.7
Inflation Rate Mom (%) 0.50 0.4 0.2 0.5 0.5 0.5
Interest Rate (%) 1.72 2.1 2 2 1.9 1.5
Balance of Trade (Million SGD) 3787.85 3400 5000 5000 1800 6800
Current Account (SGD Million) 21497.50 16500 21500 22500 23000 18000
Current Account to GDP (%) 17.70 17.7 18 18 18 18
Government Debt to GDP (%) 112.20 106 108 108 108 108
Government Budget (% of GDP) 0.40 -0.6 0.4 0.4 0.4 0.4
Business Confidence (Index Points) -11.00 6 12 5 6 7
Manufacturing PMI 49.50 49.9 50.6 50.1 50.8 50.2
Retail Sales MoM (%) -1.30 -1.2 2.3 1.5 2.2 -0.5
Corporate Tax Rate (%) 17.00 17 17 17 17 17
Personal Income Tax Rate (%) 22.00 22 22 22 23 23
GDP Actual Q4 Q1 Q2 Q3 2020
GDP Growth Rate (%) 0.60 0.5 0.5 1 -2.5 1.7
GDP Annual Growth Rate (%) 0.10 0.5 1.5 1.9 2 1.8
GDP (USD Billion) 364.16 382 394 394 394 394
GDP Constant Prices (SGD Million) 116676.80 117152 119425 118894 119010 119261
Gross National Product (SGD Million) 454012.90 456283 460823 462639 463093 464496
Gross Fixed Capital Formation (SGD Million) 30337.30 29965 30046 30914 30944 30505
GDP per capita (USD) 58247.90 55900 56240 56240 56240 56240
GDP per capita PPP (USD) 90091.40 87000 90000 90000 90000 90000
GDP From Construction (SGD Million) 4408.80 4352 4539 4493 4497 4431
GDP From Manufacturing (SGD Million) 22870.10 23571 23416 23305 23328 23995
GDP From Services (SGD Million) 16345.70 16642 16938 16656 16673 16942
GDP From Transport (SGD Million) 8203.10 8159 8197 8359 8367 8306
GDP From Utilities (SGD Million) 1474.40 1476 1520 1502 1504 1503
Labour Actual Q4 Q1 Q2 Q3 2020
Unemployment Rate (%) 2.20 2.1 2.3 2.4 2.5 2.4
Unemployed Persons (Thousand ) 100.20 111 113 113 113 113
Average Weekly Hours 44.80 44.8 44.8 44.8 44.8 44.8
Labor Force Participation Rate (%) 67.70 67.9 68 67.8 67.8 68
Labour Costs (Index Points) 99.50 120 120 120 120 122
Productivity (Index Points) 99.50 108 112 97 96 110
Wages (SGD/Month) 5225.00 5760 6010 5600 5400 5920
Population (Million) 5.64 5.68 5.72 5.72 5.72 5.72
Retirement Age Women 62.00 62 62 62 62 62
Retirement Age Men 62.00 62 62 62 62 62
Employment Change (Thousands Person) 5.50 2.4 2.5 5 3 12.2
Prices Actual Q4 Q1 Q2 Q3 2020
Inflation Rate (%) 0.50 1.2 1.4 1.6 1.5 1.7
Inflation Rate Mom (%) 0.50 0.4 0.2 0.5 0.5 0.5
Consumer Price Index CPI (Index Points) 100.70 101 102 102 102 103
Core Consumer Prices (Index Points) 104.70 106 107 106 107 109
Core Inflation Rate (%) 0.80 1.2 1.5 2 2 2.2
Producer Prices (Index Points) 97.20 103 104 101 97.62 114
Food Inflation (%) 1.60 1.6 1.5 1.3 1.3 1.7
Producer Prices Change (%) -6.10 1.5 2 1.9 2.2 2
CPI Housing Utilities (Index Points) 88.70 90.57 90.45 90.25 89.81 92.11
CPI Transportation (Index Points) 99.30 98.27 99.17 99.37 100 99.94
Money Actual Q4 Q1 Q2 Q3 2020
Interest Rate (%) 1.72 2.1 2 2 1.9 1.5
Interbank Rate (%) 1.87 2.09 1.99 2.13 2.13 1.99
Money Supply M2 (SGD Million) 624278.20 614000 614000 614000 614000 625000
Foreign Exchange Reserves (SGD Million) 376475.60 390000 399000 402500 404700 409000
Banks Balance Sheet (SGD Million) 1339286.30 1335000 1345000 1360000 1360000 1410000
Loans to Private Sector (SGD Million) 684880.40 675094 686242 700136 682904 687246
Deposit Interest Rate (%) 0.20 0.7 0.56 0.46 0.46 1
Central Bank Balance Sheet (SGD Million) 385336.10 395000 400000 410000 405000 412000
Trade Actual Q4 Q1 Q2 Q3 2020
Balance of Trade (Million SGD) 3787.85 3400 5000 5000 1800 6800
Current Account (SGD Million) 21497.50 16500 21500 22500 23000 18000
Current Account to GDP (%) 17.70 17.7 18 18 18 18
Imports (Million SGD) 40360.18 40500 39500 40800 41500 42000
Exports (Million SGD) 44148.04 43900 42500 42600 44900 45300
External Debt (SGD Million) 2080866.80 2550000 2056222 2074553 2082728 2735000
Tourist Arrivals 1734903.00 1620000 1590000 1600000 1450000 1660000
Foreign Direct Investment (SGD Million) 39895.40 26000 26000 28000 26000 27700
Government Actual Q4 Q1 Q2 Q3 2020
Government Debt to GDP (%) 112.20 106 108 108 108 108
Government Budget (% of GDP) 0.40 -0.6 0.4 0.4 0.4 0.4
Government Spending (SGD Million) 12496.60 12373 12616 12734 12747 12596
Government Debt (SGD Million) 570683.40 580000 590000 595000 595000 605000
Taxes Actual Q4 Q1 Q2 Q3 2020
Corporate Tax Rate (%) 17.00 17 17 17 17 17
Personal Income Tax Rate (%) 22.00 22 22 22 23 23
Sales Tax Rate (%) 7.00 7 7 7 7 7
Social Security Rate For Companies (%) 17.00 17 17 17 17 17
Social Security Rate For Employees (%) 20.00 20 20 20 20 20
Business Actual Q4 Q1 Q2 Q3 2020
Business Confidence (Index Points) -11.00 6 12 5 6 7
Manufacturing PMI 49.50 49.9 50.6 50.1 50.8 50.2
Industrial Production (%) -8.00 1.5 3.5 3 0.8 4
Industrial Production Mom (%) -7.50 1.4 0.5 -0.5 0.2 1.6
Changes in Inventories (SGD Million) 2462.80 2090 2090 2090 2090 1920
Car Registrations 8135.00 12500 10700 11000 12000 13000
Leading Economic Index (Index Points) 108.10 107 108 105 104 109
Composite Pmi 48.30 52.2 51.5 50.5 52.3 53.1
Consumer Actual Q4 Q1 Q2 Q3 2020
Retail Sales MoM (%) -1.30 -1.2 2.3 1.5 2.2 -0.5
Retail Sales YoY (%) -4.10 4.1 2.4 1.5 2.5 3
Consumer Spending (SGD Million) 44258.10 43866 44998 45099 45143 44655
Private Sector Credit (SGD Million) 608126.70 612000 612000 612000 613000 634000
Bank Lending Rate (%) 5.25 5.47 5.37 5.51 5.51 5.37
Households Debt To GDP (% of GDP) 53.60 54.6 55.5 56.5 58 59
Gasoline Prices (USD/Liter) 1.63 1.5 1.46 1.38 1.34 1.46
Housing Actual Q4 Q1 Q2 Q3 2020
Housing Index (Index Points) 152.20 151 153 154 155 156
New Home Sales (Units) 1178.00 590 700 750 650 560
Home Ownership Rate (%) 91.00 91.5 91.7 91 91 91.7


This page has economic forecasts for Singapore including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Singapore economy.