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

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 and surpassing consensus expectations and the advanced estimate of 4.3 percent. It was the fastest growth rate in sixteen quarters. Manufacturing and wholesale & retail trade grew faster while construction continued to contract. On a quarterly basis, the economy expanded 1.7 percent. GDP Annual Growth Rate in Singapore averaged 6.67 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.

Singapore GDP Annual Growth Rate
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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.

Within the goods producing industries, manufacturing output grew at a much faster pace of 9.8 percent (vs 10.1 percent in advanced data), 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 5.0 percent after a 5.0 percent contraction in the previous quarters (and vs a 4.4 percent fall in advanced estimate), explained by weakness in both private and public construction works.

The services producing industries also gained steam, expanding 4.1 percent in the first quarter after growing by 3.5 percent in the previous three months and above 3.8 percent in the preliminary figures. Growth was mainly supported by finance & insurance (9.1 percent vs 6.3 percent in Q4) and information & communications (5.7 percent vs 6 percent in Q4).

On a quarter-on-quarter seasonally-adjusted annualized basis, the GDP rose by 1.7 percent, below the 2.1 percent expansion and compared to 1.4 percent in advanced data.

The Ministry of Trade and Industry expects GDP growth for 2018 between 2.5 to 3.5 percent.


Mario | mario@tradingeconomics.com
5/24/2018 4:02:41 PM



Calendar GMT Actual Previous Consensus TEForecast
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%
2018-05-24 12:00 AM GDP Growth Rate YoY Final 4.4% 3.6% 4.3% 3.9%
2018-07-13 12:00 AM GDP Growth Rate YoY Adv 4.4% 3.7%
2018-08-10 12:00 AM GDP Growth Rate YoY Final 4.4%
2018-10-12 12:00 AM GDP Growth Rate YoY Adv 2.2%


Singapore GDP Last Previous Highest Lowest Unit
GDP Growth Rate 1.70 2.10 36.60 -13.50 percent [+]
GDP Annual Growth Rate 4.40 3.60 19.00 -8.80 percent [+]
GDP 296.98 296.84 308.14 0.70 USD Billion [+]
GDP Constant Prices 108120.00 107657.70 108120.00 7052.30 SGD Million [+]
Gross National Product 431376.50 405836.50 431376.50 2195.90 SGD Million [+]
Gross Fixed Capital Formation 26138.90 28242.70 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 4507.10 4488.20 4847.60 508.90 SGD Million [+]
GDP From Manufacturing 21085.30 20059.10 21085.30 1303.30 SGD Million [+]
GDP From Mining 72280.80 72486.50 72486.50 4133.60 SGD Million [+]
GDP From Services 19518.70 20107.10 20107.10 1333.10 SGD Million [+]
GDP From Transport 8214.20 8297.20 8297.20 543.10 SGD Million [+]
GDP From Utilities 1344.70 1358.60 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 June of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
4.40 3.60 19.00 -8.80 1976 - 2018 percent Quarterly




GDP annual growth rate by Country
Country Last
India 7.70 Mar/18
Turkey 7.40 Mar/18
China 6.80 Mar/18
Indonesia 5.06 Mar/18
Australia 3.10 Mar/18
Spain 3.00 Mar/18
Netherlands 2.80 Mar/18
South Korea 2.80 Mar/18
United States 2.80 Mar/18
Euro Area 2.50 Mar/18
Canada 2.30 Mar/18
Germany 2.30 Mar/18
France 2.20 Mar/18
Switzerland 2.20 Mar/18
Italy 1.40 Mar/18
Mexico 1.30 Mar/18
Russia 1.30 Mar/18
Brazil 1.20 Mar/18
United Kingdom 1.20 Mar/18
Japan 1.10 Mar/18


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