Singapore | Economic Forecasts | 2016-2020 Outlook

Overview Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
GDP Growth Rate 9.10 0.3 0.1 0.8 3.9 3.7 percent [+]
Unemployment Rate 2.10 2.2 2.1 2.2 2.2 2.6 percent [+]
Inflation Rate 0.00 0.4 0.7 0.7 1.1 2.7 percent [+]
Interest Rate 0.46 0.5 0.65 0.75 0.75 1.5 percent [+]
Balance of Trade 6120.70 4186 5180 3739 4281 5547 Million SGD [+]
Government Debt to GDP 104.70 104 104 104 104 106 percent [+]
MARKETS Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Currency 1.42 1.48 1.49 1.51 1.52 1.74 [+]
Stock Market 3000.22 2840 2810 2780 2750 2320 points [+]
Government Bond 10Y 2.29 2.44 2.46 2.49 2.25 2.87 percent [+]
GDP Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
GDP Growth Rate 9.10 0.3 0.1 0.8 3.9 3.7 percent [+]
GDP Annual Growth Rate 1.80 1.6 1.5 1.8 1.6 1.8 percent [+]
GDP 292.74 312 312 312 312 330 USD Billion [+]
GDP Constant Prices 98684.20 107987 108095 108959 113209 142000 SGD Million [+]
Gross National Product 378329.70 392935 392935 392935 392935 435207 SGD Million [+]
Gross Fixed Capital Formation 23538.70 23281 24485 24353 24607 25400 SGD Million [+]
GDP per capita 51855.08 53066 53019 53100 53126 56242 USD [+]
GDP per capita PPP 80191.54 81305 81389 81300 81357 85504 USD [+]
GDP From Construction 4743.80 4730 4697 4990 4684 5260 SGD Million [+]
GDP From Manufacturing 17391.00 17703 17533 17600 17632 18200 SGD Million [+]
GDP From Services 18509.50 19038 19217 19400 19527 20800 SGD Million [+]
GDP From Transport 7535.40 7740 7762 7600 7791 8130 SGD Million [+]
GDP From Utilities 1341.90 1390 1336 1386 1334 1450 SGD Million [+]
LABOUR Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Unemployment Rate 2.10 2.2 2.1 2.2 2.2 2.6 percent [+]
Employed Persons 3655.60 3820 3820 3820 3820 4151 Thousand [+]
Unemployed Persons 94.60 99 99 99 99 104 Thousand [+]
Average Weekly Hours 45.60 45.2 45.2 45.2 45.2 44.5 [+]
Labor Force Participation Rate 68.30 68.7 68.7 68.7 68.7 71.5 percent [+]
Labour Costs 110.90 125 112 110 120 122 Index Points [+]
Productivity 110.90 126 112 111 120 124 Index Points [+]
Job Vacancies 53800.00 48925 46734 45734 49641 58817 [+]
Wages 4646.00 5700 5000 4800 5500 6200 SGD/Month [+]
Wages in Manufacturing 4220.00 5450 4900 4700 5400 6100 SGD/Month [+]
Population 5.54 5.63 5.63 5.63 5.63 5.9 Million [+]
Retirement Age Women 62.00 62 62 62 62 62 [+]
Retirement Age Men 62.00 62 62 62 62 62 [+]
Employment Change -3.30 4.1 -2.18 -3 5 12.2 Thousands Person [+]
PRICES Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Inflation Rate 0.00 0.4 0.7 0.7 1.1 2.7 percent [+]
Inflation Rate Mom 0.30 0 0.6 0.1 0.3 0.4 percent [+]
Consumer Price Index CPI 99.20 99.3 99.6 99.9 100 110 Index Points [+]
Core Consumer Prices 101.80 101 101 103 103 118 Index Points [+]
Core Inflation Rate 1.30 1.5 1.6 1.6 1.7 3 percent [+]
GDP Deflator 100.12 102 103 103 104 116 Index Points [+]
Producer Prices 76.80 74.5 76.4 77.4 78.9 87.1 Index Points [+]
Export Prices 85.90 83.5 85 85.8 87 94.4 Index Points [+]
Import Prices 80.90 79.7 79.1 79.1 82 90 Index Points [+]
Food Inflation 2.00 2.5 2.8 3.1 2.9 2.9 percent [+]
Producer Prices Change 0.26 3.5 2.8 3.6 3.8 2.7 percent [+]
Cpi Transportation 97.48 97.8 98.2 98.5 99 102 Index Points [+]
MONEY Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Interest Rate 0.46 0.5 0.65 0.75 0.75 1.5 percent [+]
Interbank Rate 0.88 0.88 0.88 1 1 1.75 percent [+]
Money Supply M0 37410.70 38119 38735 39353 39969 47250 SGD Million [+]
Money Supply M1 172498.90 175535 177790 180003 182180 205779 SGD Million [+]
Money Supply M2 559575.50 568386 574879 581316 587698 660088 SGD Million [+]
Money Supply M3 571452.40 580752 587675 594524 601301 677282 SGD Million [+]
Foreign Exchange Reserves 356253.90 359821 362657 365433 368197 400462 SGD Million [+]
Banks Balance Sheet 1145314.40 1110000 1130000 1170000 1190000 1410000 SGD Million [+]
Loans to Private Sector 610619.30 604000 607000 605000 608000 619000 SGD Million [+]
Deposit Interest Rate 0.20 0.1 0.1 0.1 0.1 1 percent [+]
Central Bank Balance Sheet 365037.90 358000 363000 370000 379000 420000 SGD Million [+]
TRADE Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Balance of Trade 6120.70 4186 5180 3739 4281 5547 Million SGD [+]
Exports 41948.60 34861 38893 36177 37204 42326 Million SGD [+]
Imports 35827.90 30675 33713 32437 32922 36778 Million SGD [+]
Current Account 24666.70 19000 20200 21000 21000 24000 SGD Million [+]
Current Account to GDP 19.70 20.5 20.5 20.5 20.5 17 percent [+]
External Debt 0.00 0 0 0 0 0 SGD Million [+]
Terms of Trade 106.18 105 108 108 106 105 Index Points [+]
Capital Flows 19451.10 27000 16000 23000 19700 24000 SGD Million [+]
Tourist Arrivals 1234029.00 1568420 1383341 1288232 1692874 2210118 [+]
Gold Reserves 127.40 127 127 127 127 127 Tonnes [+]
Terrorism Index 0.00 0.5 0.5 0.5 0.5 0.2 [+]
Weapons Sales 48.00 28.58 27.95 27.33 29.66 37.43 USD Million [+]
Foreign Direct Investment 23377.20 22167 26489 27000 19703 27753 SGD Million [+]
GOVERNMENT Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Government Debt to GDP 104.70 104 104 104 104 106 percent [+]
Government Budget -1.20 -0.7 -0.7 -0.8 -0.88 -0.17 percent of GDP [+]
Government Budget Value 1765.80 1131 1165 1188 1195 1196 SGD Million [+]
Government Spending 9439.60 10112 11017 10448 10294 11198 SGD Million [+]
Government Revenues 1508.40 892 819 883 896 906 SGD Million [+]
Fiscal Expenditure -257.40 -298 -362 -357 -355 -356 SGD Million [+]
Military Expenditure 10213.20 10201 10370 10540 10601 11225 USD Million [+]
Government Debt 446329.30 454413 460835 465140 471415 516382 SGD Million [+]
BUSINESS Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Business Confidence 4.00 1 3 5 2 7 [+]
Manufacturing PMI 50.60 51.2 51 50.5 50 50.2 [+]
Industrial Production 11.90 1.8 1.4 -1.1 -1.5 3.1 percent [+]
Industrial Production Mom 6.10 -2.1 -1.3 2.2 0.8 0.7 percent [+]
Changes in Inventories -1754.60 1053 156 -89.27 -183 530 SGD Million [+]
Bankruptcies 123.00 156 180 170 190 180 Companies [+]
Car Registrations 9726.00 12347 12394 12794 13000 20000 Cars [+]
Leading Economic Index 103.20 104 104 105 106 109 Index Points [+]
Competitiveness Index 5.72 5.7 5.7 5.7 5.7 5.78 Points [+]
Competitiveness Rank 2.00 2 2 2 2 1 [+]
Composite Pmi 52.00 52.4 51.4 50.8 50.5 53.1 [+]
Ease of Doing Business 2.00 1.74 1.71 1 1.64 1.59 [+]
Corruption Index 85.00 86 86 86 86 89 Points [+]
Corruption Rank 8.00 7 7 7 7 4 [+]
CONSUMER Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Retail Sales MoM 0.50 0.4 -0.9 0.9 -1.1 -0.5 percent [+]
Retail Sales YoY 1.10 2.1 4 2.9 3.3 2.65 percent [+]
Consumer Spending 34250.50 34636 34930 36087 35432 37931 SGD Million [+]
Private Sector Credit 540987.90 547606 552219 556665 560975 603637 SGD Million [+]
Bank Lending Rate 5.35 5.35 5 5 4.75 3.25 percent [+]
Households Debt To Gdp 61.10 60.3 60.4 60.8 60.7 63 percent of GDP [+]
Gasoline Prices 1.40 1.42 1.39 1.38 1.37 1.32 USD/Liter [+]
HOUSING Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Housing Index 137.30 139 139 140 -0.4 153 Index Points [+]
New Home Sales 860.00 910 570 400 320 400 Units [+]
Home Ownership Rate 90.80 91 91 91 91.2 91.7 percent [+]
TAXES Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Corporate Tax Rate 17.00 17 17 17 17 19 percent [+]
Personal Income Tax Rate 22.00 20 20 22 22 22 percent [+]
Sales Tax Rate 7.00 7 7 7 7 8 percent [+]
Social Security Rate 37.00 37 37 37 37 36 percent [+]
Social Security Rate For Companies 17.00 17 17 17 17 16 percent [+]
Social Security Rate For Employees 20.00 20 20 20 20 20 percent [+]





Economic Forecasts for Singapore including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Singapore economy. 1/18/2017