Singapore | Economic Forecasts | 2016-2020 Outlook

Overview Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
GDP Growth Rate 12.30 0.3 0.1 0.8 3.9 3.7 percent [+]
Unemployment Rate 2.20 2.2 2.1 2.2 2.2 2.6 percent [+]
Inflation Rate 0.70 0.8 0.8 1 1.1 2.7 percent [+]
Interest Rate 0.22 0.5 0.65 0.75 0.75 1.5 percent [+]
Balance of Trade 7752.90 1888 3134 2771 4438 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 1.40 1.42 1.44 1.45 1.48 1.69 [+]
Stock Market 3142.90 3090 3060 3030 2970 2500 points [+]
Government Bond 10Y 2.24 2.33 2.36 2.38 2.4 2.77 percent [+]
GDP Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
GDP Growth Rate 12.30 0.3 0.1 0.8 3.9 3.7 percent [+]
GDP Annual Growth Rate 2.90 1.6 1.5 1.8 1.6 1.8 percent [+]
GDP 292.74 312 312 312 312 330 USD Billion [+]
GDP Constant Prices 102738.20 107987 108095 108959 113209 142000 SGD Million [+]
Gross National Product 378329.70 392935 392935 392935 392935 435207 SGD Million [+]
Gross Fixed Capital Formation 24489.00 24981 26054 25253 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 4696.90 4658 4608 4990 4580 5260 SGD Million [+]
GDP From Manufacturing 19121.20 18974 18747 17600 17632 18200 SGD Million [+]
GDP From Services 18632.20 19038 19217 19400 19527 20800 SGD Million [+]
GDP From Transport 7996.20 8046 8077 7900 8291 8640 SGD Million [+]
GDP From Utilities 1363.40 1390 1378 1386 1392 1450 SGD Million [+]
LABOUR Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Unemployment Rate 2.20 2.2 2.1 2.2 2.2 2.6 percent [+]
Employed Persons 3672.60 3820 3820 3820 3820 4151 Thousand [+]
Unemployed Persons 102.80 111 111 111 111 133 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 118.80 125 110 110 120 122 Index Points [+]
Productivity 118.80 124 110 111 120 124 Index Points [+]
Job Vacancies 44500.00 48925 46734 45734 49641 58817 [+]
Wages 5379.00 5700 5000 4800 5500 6200 SGD/Month [+]
Wages in Manufacturing 4220.00 5450 4900 4700 5400 6100 SGD/Month [+]
Population 5.60 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 1.90 -2.18 -3 5 6.7 12.2 Thousands Person [+]
PRICES Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Inflation Rate 0.70 0.8 0.8 1 1.1 2.7 percent [+]
Inflation Rate Mom 0.00 0 0.6 0.1 0.3 0.4 percent [+]
Consumer Price Index CPI 99.52 99.3 99.6 99.9 100 110 Index Points [+]
Core Consumer Prices 102.30 103 104 104 106 118 Index Points [+]
Core Inflation Rate 1.20 1.5 1.6 1.6 1.7 3 percent [+]
GDP Deflator 103.49 102 103 103 104 116 Index Points [+]
Producer Prices 81.70 82.1 83.5 82.7 83.3 96 Index Points [+]
Export Prices 89.00 88.8 89 89.7 91 105 Index Points [+]
Import Prices 84.70 84.8 84.6 85.1 87 107 Index Points [+]
Food Inflation 1.30 2.5 2.8 3.1 2.9 2.9 percent [+]
Producer Prices Change 14.50 14 11.9 10.7 3.8 2.7 percent [+]
Cpi Transportation 98.30 99.2 101 102 103 117 Index Points [+]
MONEY Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Interest Rate 0.22 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 40513.20 40607 41549 42412 43271 53401 SGD Million [+]
Money Supply M1 173881.80 175344 177576 179765 181919 205243 SGD Million [+]
Money Supply M2 564199.40 568588 575105 581566 587971 660662 SGD Million [+]
Money Supply M3 575899.80 580546 587423 594233 600973 676526 SGD Million [+]
Foreign Exchange Reserves 354240.40 354957 357150 359564 361965 389709 SGD Million [+]
Banks Balance Sheet 1144447.10 1160000 1180000 1190000 1200000 1410000 SGD Million [+]
Loans to Private Sector 617091.50 618000 620000 621000 623000 654000 SGD Million [+]
Deposit Interest Rate 0.20 0.1 0.1 0.1 0.1 1 percent [+]
Central Bank Balance Sheet 365979.10 358000 363000 370000 379000 420000 SGD Million [+]
TRADE Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Balance of Trade 7752.90 1888 3134 2771 4438 5547 Million SGD [+]
Exports 43285.90 39413 40302 39192 39568 42326 Million SGD [+]
Imports 35533.00 37525 37168 36421 35130 40778 Million SGD [+]
Current Account 18129.90 17300 21000 19900 20000 24000 SGD Million [+]
Current Account to GDP 19.80 20.5 20.5 20.5 20.5 17 percent [+]
External Debt 0.00 0 0 0 0 0 SGD Million [+]
Terms of Trade 105.08 105 108 108 106 105 Index Points [+]
Capital Flows 22727.00 27000 16000 23000 19700 24000 SGD Million [+]
Tourist Arrivals 1505299.00 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 24859.90 22685 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 1.30 0.4 0.4 0.4 0.4 0.9 percent of GDP [+]
Government Budget Value 674.00 832 714 874 888 899 SGD Million [+]
Government Spending 10442.90 10365 11017 10448 10646 11662 SGD Million [+]
Government Revenues 674.00 751 699 828 877 899 SGD Million [+]
Fiscal Expenditure -488.50 -292 -408 -410 -404 -405 SGD Million [+]
Military Expenditure 10213.20 10201 10370 10540 10601 11225 USD Million [+]
Government Debt 463165.60 472056 478339 489009 498315 573161 SGD Million [+]
BUSINESS Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Business Confidence -14.00 1 3 5 2 7 [+]
Manufacturing PMI 50.90 51.2 51 50.5 50 50.2 [+]
Industrial Production 12.60 0.4 1.4 -1.1 -1.5 3.1 percent [+]
Industrial Production Mom -3.70 2.1 -1.3 2.2 0.8 0.7 percent [+]
Changes in Inventories 3389.00 1633 895 -136 1802 1178 SGD Million [+]
Bankruptcies 124.00 156 180 170 190 180 Companies [+]
Car Registrations 8251.00 11490 14114 12327 13105 20000 Cars [+]
Leading Economic Index 105.20 104 104 105 106 109 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 51.40 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 84.00 86 86 86 86 89 Points [+]
Corruption Rank 7.00 7 7 7 7 4 [+]
CONSUMER Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Retail Sales MoM -1.50 0.4 -0.5 0.3 -1.1 -0.5 percent [+]
Retail Sales YoY 2.00 2.1 4 2.9 3.3 2.65 percent [+]
Consumer Spending 34316.00 34535 34755 36087 35174 37610 SGD Million [+]
Private Sector Credit 547466.20 551487 556982 562250 567365 618791 SGD Million [+]
Bank Lending Rate 5.28 5.23 5 5 4.75 3.25 percent [+]
Households Debt To Gdp 62.10 60.3 60.4 60.8 60.7 63 percent of GDP [+]
Gasoline Prices 1.47 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 137.20 137 137 138 139 150 Index Points [+]
New Home Sales 977.00 750 482 463 481 540 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. 3/24/2017