Singapore GDP Annual Growth Rate  1976-2017 | Data | Chart | Calendar

The Singaporean economy expanded 4.6 percent year-on-year in the third quarter of 2017, up from 2.9 percent in the prior quarter and stronger than market expectations of a 3.8 percent expansion, led by a sharp acceleration in manufacturing. On a quarterly basis, the advanced estimate showed that the GDP grew an annualized 6.3 percent in Q3, sharply surpassing the 2.4 percent growth of the previous quarter and the 3.2 percent expansion expected by consensus. GDP Annual Growth Rate in Singapore averaged 6.66 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 GDP Growth Surpasses Expectations in Q3


The Singaporean economy expanded 4.6 percent year-on-year in the third quarter of 2017, up from 2.9 percent in the prior quarter and stronger than market expectations of a 3.8 percent expansion, led by a sharp acceleration in manufacturing. On a quarterly basis, the advanced estimate showed that the GDP grew an annualized 6.3 percent in Q3, sharply surpassing the 2.4 percent growth of the previous quarter and the 3.2 percent expansion expected by consensus.

On an annualized basis, manufacturing was the main driver of faster-than-expected growth in the September quarter of 2017, as it expanded 15.5 percent after increasing by 8.2 percent in the previous three-month period. Robust expansion in electronics, biomedical manufacturing and precision engineering clusters drove growth.

The services producing industries advanced 2.6 percent, compared to an upwardly revised 2.5 percent rise in the prior quarter. Growth was mainly supported by finance & insurance services, wholesale & retail trade, and transportation & storage.

In sharp contrast, the construction sector plunged 6.3 percent, albeit the contraction was moderately smaller than the 6.8 fall of the previous quarter. The sector was mainly affected by persistent weakness in private sector construction activities.

On a quarterly basis, the GDP grew an annualized 6.3 percent in Q3 after an upwardly revised 2.4 percent expansion in Q2. Manufacturing was the trigger behind the sharp jump, expanding 23.1 percent after a 3.2 percent expansion in the previous quarter. In contrast, construction plummeted 9.2 percent after rebounding by 2.4 percent in Q2.

In 2016, the economy advanced 2 percent, slightly stronger than a 1.9 percent growth in the preceding year.

Mario | mario@tradingeconomics.com
10/13/2017 12:15:28 AM



Calendar GMT Actual Previous Consensus TEForecast
2017-07-14 12:00 AM GDP Growth Rate YoY Adv 2.5% 2.5% 2.8% 2.6%
2017-08-11 12:00 AM GDP Growth Rate YoY Final 2.9% 2.5% 2.6% 2.5%
2017-10-13 12:00 AM GDP Growth Rate YoY Adv 4.6% 2.9% 3.8% 4%
2017-11-24 12:00 AM GDP Growth Rate YoY Final 4.6%


Singapore GDP Last Previous Highest Lowest Unit
GDP Growth Rate 6.30 2.40 37.20 -13.50 percent [+]
GDP Annual Growth Rate 4.60 2.90 19.00 -8.80 percent [+]
GDP 296.97 296.84 308.14 0.70 USD Billion [+]
GDP Constant Prices 102755.90 102408.70 102755.90 7052.10 SGD Million [+]
Gross National Product 410271.90 408096.00 410271.90 2195.90 SGD Million [+]
Gross Fixed Capital Formation 23947.20 23497.80 26351.80 1860.50 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 4563.50 4746.80 4847.60 508.90 SGD Million [+]
GDP From Manufacturing 19273.60 19050.80 19273.60 1303.30 SGD Million [+]
GDP From Mining 68498.10 68867.80 68867.80 4133.60 SGD Million [+]
GDP From Services 18737.20 18519.90 18737.20 1333.10 SGD Million [+]
GDP From Transport 8044.70 7999.20 8044.70 543.10 SGD Million [+]
GDP From Utilities 1351.10 1365.10 1365.10 130.20 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 October of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
4.60 2.90 19.00 -8.80 1976 - 2017 percent Quarterly




gdp annual growth rate by Country

Last
China 6.80 Sep/17
India 5.70 Jun/17
Turkey 5.10 Jun/17
Indonesia 5.01 Jun/17
Canada 3.70 Jun/17
Netherlands 3.30 Jun/17
Spain 3.10 Jun/17
South Korea 2.70 Jun/17
Russia 2.50 Jun/17
Euro Area 2.30 Jun/17
United States 2.20 Jun/17
Germany 2.10 Jun/17
Australia 1.80 Jun/17
France 1.80 Jun/17
Mexico 1.80 Jun/17
Italy 1.50 Jun/17
United Kingdom 1.50 Jun/17
Japan 1.40 Jun/17
Brazil 0.30 Jun/17
Switzerland 0.30 Jun/17