The Gross Domestic Product (GDP) in Singapore expanded 7.90 percent on quarter in the third quarter of 2020, the advance estimate showed. It is the strongest growth ever, after a record 13.2 percent plunge in the previous period due to the coronavirus crisis. The improvement came on the back of the phased re-opening of the economy following the Circuit Breaker that was implemented between 7 April and 1 June 2020.
GDP Growth Rate in Singapore averaged 1.51 percent from 1975 until 2020, reaching an all time high of 7.90 percent in the third quarter of 2020 and a record low of -13.20 percent in the second quarter of 2020. This page provides - Singapore GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Singapore GDP Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on October of 2020. source: Statistics Singapore
GDP Growth Rate in Singapore is expected to be 1.70 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Growth Rate in Singapore to stand at 10.00 in 12 months time. In the long-term, the Singapore GDP Growth Rate is projected to trend around 3.00 percent in 2021 and 2.00 percent in 2022, according to our econometric models.