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

The economy of Singapore expanded 4.3 percent year-on-year in the first quarter of 2018, according to advanced data, gaining steam from a 3.6 percent climb and matching consensus expectations. It was the second fastest growth rate in thirteen quarters. Manufacturing and wholesale & retail trade grew faster 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.

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Singapore GDP Growth Climbs to 4.3% in Q1

The economy of Singapore expanded 4.3 percent year-on-year in the first quarter of 2018, according to advanced data, gaining steam from a 3.6 percent climb and matching consensus expectations. It was the second fastest growth rate in thirteen quarters. Manufacturing and wholesale & retail trade grew faster while construction continued to contract.

Within the goods producing industries, manufacturing output grew at a much faster pace of 10.1 percent, following a 4.8 percent jump in the fourth quarter of 2017, with all the clusters expanding in Q1, led by electronics and precision engineering and contributing the most to the sector’s growth. On the other hand, construction output shrank by 4.4 percent after a 5.0 percent contraction in the previous quarters, explained by weakness in both private and public construction works.

The services producing industries also gained steam, expanding 3.8 percent in the first quarter after growing by 3.5 percent in the previous three months. Growth was mainly supported by wholesale & retail trade and finance & insurance.

On a quarter-on-quarter seasonally-adjusted annualized basis, the GDP rose by 1.4 percent, below the 2.1 percent expansion of the previous quarter but above market expectations of a 1.0 percent climb.

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.

Mario | mario@tradingeconomics.com
4/13/2018 10:15:39 AM

Recent Releases

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.
Published on 2018-02-14

Singapore GDP Annual Growth Beats Forecasts in Q4
The economy of Singapore expanded 3.1 percent year-on-year in the last three months of 2017, below an upwardly revised 5.4 percent rise in the previous quarter which was the highest growth rate in nearly four years. Figures came above market expectations of 2.7 percent, according to advance estimates. Considering full 2017, the GDP advanced 3.5 percent, higher than 2 percent in 2016 and the fastest expansion since 2014.
Published on 2018-01-02

Singapore GDP Growth Revised Up in Q3
The Singaporean economy grew 5.2 percent year-on-year in the third quarter of 2017, higher than an initial estimate of 4.6 percent and 2.9 percent in the prior quarter. It is the biggest expansion since the last quarter of 2013, led by a sharp acceleration in manufacturing.
Published on 2017-11-23

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.
Published on 2017-10-13

Calendar	GMT		Actual	Previous	Consensus	TEForecast
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	4.3%	3.6%	4.3%	4.1%
2018-05-25	12:00 AM	GDP Growth Rate YoY Final		3.6%		4.4%
2018-07-13	12:00 AM	GDP Growth Rate YoY Adv				3.7%
2018-08-10	12:00 AM	GDP Growth Rate YoY Final

Singapore GDP	Last	Previous	Highest	Lowest	Unit
GDP Growth Rate	1.40	2.10	36.60	-13.50	percent	[+]
GDP Annual Growth Rate	4.30	3.60	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 April of 2018.

	Actual	Previous	Highest	Lowest	Dates	Unit	Frequency
	4.30	3.60	19.00	-8.80	1976 - 2018	percent	Quarterly

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GDP annual growth rate by Country

Country	Last		Previous	Highest	Lowest
Turkey	7.30	Dec/17	11.3	11.7	-14.4	%	Quarterly
India	7.20	Dec/17	6.5	11.4	-5.2	%	Quarterly
China	6.80	Mar/18	6.8	15.4	3.8	%	Quarterly
Indonesia	5.19	Dec/17	5.06	7.16	1.56	%	Quarterly
Spain	3.10	Dec/17	3.1	5.6	-4.3	%	Quarterly
Canada	2.90	Dec/17	3	8.8	-4.1	%	Quarterly
Germany	2.90	Dec/17	2.7	7.2	-6.8	%	Quarterly
Netherlands	2.90	Dec/17	3	6.1	-4.9	%	Quarterly
South Korea	2.80	Dec/17	3.8	20.8	-7.3	%	Quarterly
Euro Area	2.70	Dec/17	2.7	5	-5.5	%	Quarterly
United States	2.60	Dec/17	2.3	13.4	-4.1	%	Quarterly
France	2.50	Dec/17	2.3	12.5	-3.8	%	Quarterly
Australia	2.40	Dec/17	2.9	9	-3.5	%	Quarterly
Brazil	2.10	Dec/17	1.4	10.1	-5.6	%	Quarterly
Japan	2.00	Dec/17	1.9	9.4	-8.8	%	Quarterly
Switzerland	1.90	Dec/17	1.2	5.8	-3.4	%	Quarterly
Italy	1.60	Dec/17	1.7	10.3	-7.2	%	Quarterly
Mexico	1.50	Dec/17	1.6	9	-9.1	%	Quarterly
United Kingdom	1.40	Dec/17	1.8	9.7	-5.9	%	Quarterly
Russia	0.90	Dec/17	2.2	12.1	-11.2	%	Quarterly