Singapore GDP Annual Growth Rate  1976-2018 | Data | Chart | Calendar

The economy of Singapore expanded 3.6 percent year-on-year in the fourth quarter of 2017, slowing down from a 4-year high of 5.5 percent in the previous period but above the preliminary estimate of 3.1 percent. Manufacturing and wholesale & retail trade growth eased while construction continued to contract. GDP Annual Growth Rate in Singapore averaged 6.68 percent from 1976 until 2017, reaching an all time high of 19 percent in the second quarter of 2010 and a record low of -8.80 percent in the first quarter of 2009.

Singapore GDP Annual Growth Rate
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Singapore Q4 GDP Growth Eases to 3.6%


The economy of Singapore expanded 3.6 percent year-on-year in the fourth quarter of 2017, slowing down from a 4-year high of 5.5 percent in the previous period but above the preliminary estimate of 3.1 percent. Manufacturing and wholesale & retail trade growth eased while construction continued to contract.

Within the goods producing industries, manufacturing output grew at a softer 4.8 percent, following a 19.1 percent jump in Q3, as the transport engineering and biomedical sectors contracted on account of the poor performance of the marine & offshore engineering segment as well as lower production of active pharmaceutical ingredients and biological products, respectively. On the other hand, the electronics and precision engineering clusters continued to grow supported by healthy global demand for semiconductors, semiconductor equipment, as well as optical products. Construction output, however, shrank by 5 percent after a 9.3 percent contraction in Q3, primarly due to weakness in private sector construction works.

Within the services producing industries, output growth moderated for: finance & insurance (6.3 percent vs 7.1 percent in Q3), amid robust growth in the fund management segment; wholesale & retail trade (3 percent vs 3.3 percent), largely due to improved sales in petroleum & petroleum-related products, telecommunications & computers, and electronic components; and business services (0.4 percent vs 0.5 percent), supported by both the professional services and other segments. At the same time, output expanded faster for: transportation & storage (5.3 percent vs 5.2 percent), driven by water and air transport; accommodation & food services (2.9 percent vs 1.3 percent); information & communications (6 percent vs 5.1 percent), supported by the IT & information services segment; and other services industries (2.7 percent vs 2 percent).

On a quarter-on-quarter seasonally-adjusted annualised basis, the GDP rose by 2.1 percent, below the preliminary estimate of 2.8 percent and compared with 11.2 percent in the previous period.

Considering full 2017, the Singapore economy grew by 3.6 percent, faster than 2.4 percent in 2016. The manufacturing sector expanded by 10.1 percent (vs 3.7 percent in 2016), driven by the electronics and precision engineering clusters; and the services producing industries advanced by 2.8 percent, higher than the 1.4 percent growth in 2016, supported by the finance & insurance, wholesale & retail trade, and transportation & storage sectors.

The Ministry of Trade and Industry expects GDP growth for 2018 to come in slightly above the middle of the forecast range of 1.5 to 3.5 percent. 


MTI | Mario | mario@tradingeconomics.com
2/14/2018 2:08:06 PM



Calendar GMT Actual Previous Consensus TEForecast
2017-11-23 12:00 AM GDP Growth Rate YoY Final 5.2% 2.9% 4.6% 4.6%
2018-01-02 12:00 AM GDP Growth Rate YoY Adv 3.1% 5.4% 2.9% 2.8%
2018-02-14 12:00 AM GDP Growth Rate YoY Final 3.6% 5.5% 3.1% 3.1%
2018-04-13 12:00 AM GDP Growth Rate YoY Adv 3.6% 2.5%
2018-05-25 12:00 AM GDP Growth Rate YoY Final 3.6%
2018-07-13 12:00 AM GDP Growth Rate YoY Adv 2.3%


Singapore GDP Last Previous Highest Lowest Unit
GDP Growth Rate 2.10 11.20 36.60 -13.50 percent [+]
GDP Annual Growth Rate 3.60 5.50 19.00 -8.80 percent [+]
GDP 296.98 296.84 308.14 0.70 USD Billion [+]
GDP Constant Prices 107657.70 107086.80 107657.70 7052.30 SGD Million [+]
Gross National Product 410271.90 408096.00 410271.90 2195.90 SGD Million [+]
Gross Fixed Capital Formation 28242.70 26135.80 28684.50 1874.00 SGD Million [+]
GDP per capita 52600.60 52244.60 52600.60 3389.60 USD [+]
GDP per capita PPP 81443.40 80892.10 81443.40 34339.70 USD [+]
GDP From Construction 4488.20 4339.10 4847.60 508.90 SGD Million [+]
GDP From Manufacturing 20059.10 20815.00 20815.00 1303.30 SGD Million [+]
GDP From Mining 69545.40 68992.10 69545.40 4133.60 SGD Million [+]
GDP From Services 20107.10 18936.40 20107.10 1333.10 SGD Million [+]
GDP From Transport 8297.20 8132.60 8297.20 543.10 SGD Million [+]
GDP From Utilities 1358.60 1361.50 1364.60 130.20 SGD Million [+]


Singapore GDP Annual Growth Rate

In Singapore, services are the biggest sector of the economy and account for 72 percent of GDP. Within services the most important segments are: wholesale and retail trade (18 percent of total GDP); business services (16 percent); finance and insurance (13 percent), transport and storage (10 percent) and information and communications (5 percent). Industry contributes the remaining 28 percent total output. Manufacturing (21 percent) and construction (5 percent) are the most important industry segments. This page provides - Singapore GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Singapore GDP Annual Growth Rate - actual data, historical chart and calendar of releases - was last updated on February of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
3.60 5.50 19.00 -8.80 1976 - 2017 percent Quarterly




GDP annual growth rate by Country
Country Last
Turkey 11.10 Sep/17
China 6.80 Dec/17
India 6.30 Sep/17
Indonesia 5.19 Dec/17
Spain 3.10 Dec/17
Canada 3.00 Sep/17
South Korea 3.00 Dec/17
Germany 2.90 Dec/17
Netherlands 2.90 Dec/17
Australia 2.80 Sep/17
Euro Area 2.70 Dec/17
United States 2.50 Dec/17
France 2.40 Dec/17
Russia 1.80 Sep/17
Italy 1.60 Dec/17
Japan 1.50 Dec/17
Mexico 1.50 Dec/17
Brazil 1.40 Sep/17
United Kingdom 1.40 Dec/17
Switzerland 1.20 Sep/17


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