The Gross Domestic Product (GDP) in Singapore contracted 0.20 percent in the second quarter of 2022 over the previous quarter. source: Statistics Singapore

GDP Growth Rate in Singapore averaged 1.52 percent from 1975 until 2022, reaching an all time high of 9 percent in the third quarter of 2020 and a record low of -13.20 percent in the second quarter of 2020. This page provides - Singapore GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Singapore GDP Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on September of 2022.

GDP Growth Rate in Singapore is expected to be 1.30 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Singapore GDP Growth Rate is projected to trend around 1.10 percent in 2023 and 1.50 percent in 2024, according to our econometric models.

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Singapore GDP Growth Rate

Calendar GMT Actual Previous Consensus TEForecast
2022-07-14 12:00 AM QoQ Adv Q2 0.0% 0.9% 0.6%
2022-08-11 12:00 AM QoQ Final Q2 -0.2% 0.8% 0.0% 0.0%
2022-10-14 12:00 AM QoQ Adv Q3

Related Last Previous Unit Reference
GDP Growth Rate -0.20 0.80 percent Jun 2022
GDP Annual Growth Rate 4.40 3.80 percent Jun 2022
GDP Constant Prices 127484.70 127705.40 SGD Million Jun 2022
Gross National Product 469088.30 411756.60 SGD Million Dec 2021
Gross Fixed Capital Formation 30233.30 30412.90 SGD Million Jun 2022
Full Year GDP Growth 7.61 -4.14 percent Dec 2021
GDP Growth Annualized 0.10 1.40 percent Jun 2022
GDP from Utilities 1546.40 1549.00 SGD Million Jun 2022
GDP from Transport 7202.80 7200.60 SGD Million Jun 2022
GDP from Services 17974.50 17880.10 SGD Million Jun 2022
GDP from Manufacturing 29193.90 29524.80 SGD Million Jun 2022
GDP from Construction 3737.20 3694.60 SGD Million Jun 2022
GDP from Mining 80716.80 79378.30 SGD Million Mar 2022

Singapore GDP Growth Rate
Since gaining independence in 1963, Singaporean economy has been growing rapidly and as a result the country has now one of the highest GDP per capita in the world. The economy depends heavily on foreign trade; both from port activities and from exports of electronic components and refined oil. The country is a leading foreign direct investment recipient due to its status of one of the freest, most competitive and most business-friendly economies in the world. Singapore is also an important financial center.
Actual Previous Highest Lowest Dates Unit Frequency
-0.20 0.80 9.00 -13.20 1975 - 2022 percent Quarterly