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

The economy of Singapore grew an annual 2.6 percent in the third quarter of 2018, slightly above market expectations of a 2.5 percent expansion but well below the 4.1 percent final growth rate for the previous quarter, advanced data showed. Moderate growth was mainly explained by manufacturing, which expanded 4.5 percent after a 10.6 percent expansion in the previous quarter, with growth mainly nudged by output expansions in the electronics, biomedical manufacturing and transport engineering clusters. Meantime, services grew at a 2.9 percent pace for the second quarter. In contrast, construction extended its contraction, shrinking 3.1 percent after falling 4.2 percent in Q2. GDP Annual Growth Rate in Singapore averaged 6.63 percent from 1976 until 2018, 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 Economy Expands 2.6% YoY in Q3

The economy of Singapore grew an annual 2.6 percent in the third quarter of 2018, slightly above market expectations of a 2.5 percent expansion but well below the 4.1 percent final growth rate for the previous quarter, advanced data showed.

Moderate growth was mainly explained by manufacturing, which expanded 4.5 percent after a 10.6 percent expansion in the previous quarter, with growth mainly nudged by output expansions in the electronics, biomedical manufacturing and transport engineering clusters. Meantime, services grew at a 2.9 percent pace for the second straight quarter, mainly supported by growth in finance & insurance, business services and wholesale & retail trade sectors. In contrast, construction extended its contraction, shrinking 3.1 percent after falling 4.2 percent in Q2, as weakness in public construction activities persisted.

On a quarter-on-quarter seasonally-adjusted annualized basis, GDP expanded 4.7 percent quarter-on-quarter in the third quarter of 2018, well above the 1.2 percent final growth for the previous quarter but missing expectations of a 4.9 percent increase. It was the fastest expansion in four quarters, mainly nudged by further growth in manufacturing (7.6 percent vs 2.9 percent in Q2) and services (6.3 percent vs 0.7 percent), and a rebound in construction (1.7 percent vs -14.5 percent).

Mario | mario@tradingeconomics.com
10/12/2018 12:40:31 AM

Recent Releases

Singapore Q2 GDP Growth Revised Slightly Higher to 3.9%
The economy of Singapore grew an annual 3.9 percent in the June quarter of 2018, slightly above the advance estimate of a 3.8 percent growth but less than market consensus of a 4.1 percent rise. It followed an upwardly revised 4.5 percent expansion in the March quarter, with manufacturing sector expanding more than initially thought.
Published on 2018-08-13

Singapore GDP Growth Slows to 3.8% YoY in Q2
The economy of Singapore advanced 3.8 percent year-on-year in the second quarter of 2018, according to advance data, losing steam from a downwardly revised 4.3 percent climb in Q1 and below consensus expectations of a 4 percent expansion. Manufacturing and services lost steam, whereas construction contracted at a slower pace.
Published on 2018-07-13

Singapore GDP Growth Revised Higher to 4.4% in Q1
The economy of Singapore expanded 4.4 percent year-on-year in the first quarter of 2018, according to final data, gaining steam from a 3.6 percent climb in the previous period and surpassing expectations and the advanced estimate of 4.3 percent. It was the fastest growth rate in sixteen quarters.
Published on 2018-05-24

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.
Published on 2018-04-13

Calendar	GMT		Actual	Previous	Consensus	TEForecast
2018-07-13	12:00 AM	GDP Growth Rate YoY Adv	3.8%	4.3%	4%	3.7%
2018-08-13	12:00 AM	GDP Growth Rate YoY Final	3.9%	4.5%	4.3%	3.9%
2018-10-12	12:00 AM	GDP Growth Rate YoY Adv	2.6%	3.9%	2.5%	2.6%
2018-11-23	12:00 AM	GDP Growth Rate YoY Final		3.9%	2.6%	2.6%

Singapore GDP	Last	Previous	Highest	Lowest	Unit
GDP Growth Rate	4.70	1.20	36.60	-13.50	percent	[+]
GDP Annual Growth Rate	2.60	4.10	19.00	-8.80	percent	[+]
GDP	323.91	309.76	323.91	0.70	USD Billion	[+]
GDP Constant Prices	108395.10	108120.00	108395.10	7052.30	SGD Million	[+]
Gross National Product	431376.50	405836.50	431376.50	2195.90	SGD Million	[+]
Gross Fixed Capital Formation	28187.50	26138.90	28684.50	1874.00	SGD Million	[+]
GDP per capita	55235.51	53353.80	55235.51	3389.60	USD	[+]
GDP per capita PPP	85535.38	82621.50	85535.38	34344.70	USD	[+]
GDP From Construction	4312.90	4507.10	4847.60	508.90	SGD Million	[+]
GDP From Manufacturing	21356.60	21085.30	21356.60	1303.30	SGD Million	[+]
GDP From Mining	72280.80	72486.50	72486.50	4133.60	SGD Million	[+]
GDP From Services	19683.70	19518.70	20107.10	1333.10	SGD Million	[+]
GDP From Transport	8151.60	8214.20	8297.20	543.10	SGD Million	[+]
GDP From Utilities	1359.50	1344.70	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 October of 2018.

	Actual	Previous	Highest	Lowest	Dates	Unit	Frequency
	2.60	4.10	19.00	-8.80	1976 - 2018	percent	Quarterly

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GDP annual growth rate by Country

Country	Last		Previous	Highest	Lowest
India	8.20	Jun/18	7.7	11.4	-5.2	%	Quarterly
China	6.50	Sep/18	6.7	15.4	3.8	%	Quarterly
Indonesia	5.27	Jun/18	5.06	7.16	1.56	%	Quarterly
Turkey	5.20	Jun/18	7.3	11.7	-14.4	%	Quarterly
Australia	3.40	Jun/18	3.2	9	-3.4	%	Quarterly
Switzerland	3.40	Jun/18	2.9	5.8	-3.7	%	Quarterly
Netherlands	3.10	Jun/18	2.8	6.1	-4.6	%	Quarterly
United States	2.90	Jun/18	2.6	13.4	-3.9	%	Quarterly
South Korea	2.80	Jun/18	2.8	19.6	-7.4	%	Quarterly
Mexico	2.60	Jun/18	1.4	9	-9.1	%	Quarterly
Singapore	2.60	Sep/18	4.1	19	-8.8	%	Quarterly
Spain	2.50	Jun/18	2.8	5.6	-4.3	%	Quarterly
Euro Area	2.10	Jun/18	2.4	5	-5.5	%	Quarterly
Germany	2.00	Jun/18	2.1	7.2	-6.8	%	Quarterly
Canada	1.90	Jun/18	2.3	9.3	-4.1	%	Quarterly
Russia	1.90	Jun/18	1.3	12.1	-11.2	%	Quarterly
France	1.70	Jun/18	2.2	12.6	-3.8	%	Quarterly
Saudi Arabia	1.61	Jun/18	1.15	24.2	-20.7	%	Quarterly
Italy	1.20	Jun/18	1.4	10.3	-7.2	%	Quarterly
United Kingdom	1.20	Jun/18	1.1	9.7	-6.1	%	Quarterly
Brazil	1.00	Jun/18	1.2	10.1	-5.6	%	Quarterly
Japan	1.00	Jun/18	1	9.4	-8.8	%	Quarterly
South Africa	0.40	Jun/18	0.8	7.1	-2.6	%	Quarterly
Argentina	-4.20	Jun/18	3.9	16.2	-16.3	%	Quarterly