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

The Singaporean economy grew 5.2 percent year-on-year in the third quarter of 2017, following an initial estimate of 4.6 percent and up from 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. On a quarterly basis, the final estimate showed that the GDP grew an annualized 8.8 percent in Q3 (vs a preliminary 6.3 percent), sharply surpassing the downwardly revised 2.2 percent growth of the previous quarter. The Ministry of Trade and Industry announced that the Singapore economy is expected to grow by 3.0-3.5 percent in 2017 and by 1.5-3.5 percent in 2018. 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 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.

Year-on-year, the manufacturing sector went up 18.4 percent, above a preliminary of 15.5 percent and 8.4 percent in the previous quarter. All clusters withing manufacturing increased with the exception of the transport engineering one which continued to register a decline in output on the back of sustained weakness in the marine and offshore engineering segment. 

The services sector went up 3 percent, above 2.6 percent in early figures and 2.5 percent in the previous quarter. All sectors rose at a faster pace with the exception of accomodation and food services which fell more (-2.1 percent compared to -2 percent in Q2).

On the other hand, construction shrank 7.6 percent, more than an initial estimate of a 6.3 percent fall and extending the 9.1 percent drop in the previous quarter.

On a quarterly basis, the final estimate showed the GDP grew an annualized 8.8 percent, above a preliminary 6.3 percent and sharply surpassing the downwardly revised 2.2 percent growth of the previous quarter. 

The Ministry of Trade and Industry announced that the Singapore economy is expected to grow by 3.0-3.5 percent in 2017 and by 1.5-3.5 percent in 2018. 

MTI | Joana Taborda | joana.taborda@tradingeconomics.com
11/23/2017 12:04:43 PM



Calendar GMT Actual Previous Consensus TEForecast
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% 5.0% 4%
2017-11-23 12:00 AM GDP Growth Rate YoY Final 5.2% 2.9% 4.6% 4.6%
2018-01-03 12:00 AM GDP Growth Rate YoY Adv 5.2% 5.1%
2018-02-16 12:00 AM GDP Growth Rate YoY Final 5.2%
2018-04-13 12:00 AM GDP Growth Rate YoY Adv


Singapore GDP Last Previous Highest Lowest Unit
GDP Growth Rate 8.80 2.20 37.20 -13.50 percent [+]
GDP Annual Growth Rate 5.20 2.90 19.00 -8.80 percent [+]
GDP 296.97 296.84 308.14 0.70 USD Billion [+]
GDP Constant Prices 104973.20 102778.90 104973.20 7052.10 SGD Million [+]
Gross National Product 410271.90 408096.00 410271.90 2195.90 SGD Million [+]
Gross Fixed Capital Formation 23085.80 23359.80 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 4339.10 4399.10 4847.60 508.90 SGD Million [+]
GDP From Manufacturing 20815.00 19323.40 20815.00 1303.30 SGD Million [+]
GDP From Mining 69545.40 68992.10 69545.40 4133.60 SGD Million [+]
GDP From Services 18936.40 18836.10 18936.40 1333.10 SGD Million [+]
GDP From Transport 8132.60 8038.70 8132.60 543.10 SGD Million [+]
GDP From Utilities 1361.50 1339.50 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 December of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
5.20 2.90 19.00 -8.80 1976 - 2017 percent Quarterly




GDP annual growth rate by Country
Country Last
Turkey 11.10 Sep/17
China 6.80 Sep/17
India 6.30 Sep/17
Indonesia 5.06 Sep/17
South Korea 3.80 Sep/17
Spain 3.10 Sep/17
Canada 3.00 Sep/17
Netherlands 3.00 Sep/17
Australia 2.80 Sep/17
Germany 2.80 Sep/17
Euro Area 2.60 Sep/17
United States 2.30 Sep/17
France 2.20 Sep/17
Japan 2.10 Sep/17
Russia 1.80 Sep/17
Italy 1.70 Sep/17
Mexico 1.50 Sep/17
United Kingdom 1.50 Sep/17
Brazil 1.40 Sep/17
Switzerland 1.20 Sep/17