Singapore GDP Annual Growth Rate 1976-2015 | Data | Chart | Calendar

The Gross Domestic Product (GDP) in Singapore expanded 1.80 percent in the second quarter of 2015 over the same quarter of the previous year. GDP Annual Growth Rate in Singapore averaged 6.76 percent from 1976 until 2015, reaching an all time high of 19.80 percent in the second quarter of 2010 and a record low of -8.90 percent in the first quarter of 2009. GDP Annual Growth Rate in Singapore is reported by the Statistics Singapore.

Singapore GDP Annual Growth Rate
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Actual Previous Highest Lowest Dates Unit Frequency
1.80 2.80 19.80 -8.90 1976 - 2015 percent Quarterly
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. Content for - Singapore GDP Annual Growth Rate - was last refreshed on Saturday, August 29, 2015.


Calendar GMT Reference Actual Previous Consensus Forecast (i)
2015-05-26 01:00 AM Q1 2.6% 2.1% 2.2% 2.1%
2015-07-14 01:00 AM Q2 1.7% 2.8%(R) 2.4% 1.85%
2015-08-11 01:00 AM Q2 1.8% 2.8% 1.5% 1.7%
2015-10-14 01:00 AM Q3 1.8% 1.21%
2015-11-25 12:00 AM Q3 1.8%


Singapore GDP Growth Slows in Q2


The Singapore's economy expanded by 1.8 percent year-on-year in the second quarter of 2015, down from a 2.8 percent growth in the preceding quarter but slightly above advance estimates. It is the slowest growth since the third quarter of 2012, mainly due to a further contraction in the manufacturing, the accommodation & food services and the transportation & storage sectors while most other sectors in the economy slowed.

Year-on-year, the manufacturing sector contracted by 4.9 percent from a year earlier, extending a 2.4 percent decline in the previous quarter, due to a fall in the output of biomedical manufacturing and transport engineering quarters.
 
The accommodation & food services sector declined by 0.6 percent, as compared to a 0.1 percent fall in the March quarter, largely due to a sluggish performance in the food & beverage segment.
 
The transportation & storage contracted by 0.9 percent, in contrast to a 1.4 percent growth in the previous three months, largely due to a contraction in the water transport segment on the back of a decline in sea cargo handled.

The construction sector, which expanded by 2.5 percent, after registering a 1.1 percent growth in the March quarter, mainly due to a pickup in public sector construction works.
 
The wholesale & retail trade sector advanced by 5.0 percent, slightly lower than a 5.3 percent expansion in the preceding quarter, mainly driven by both the wholesale trade and retail trade segments, with the latter being supported in turn by robust motor vehicles.owth
 
The information & communications sector grew by 4.5 percent, moderating from a 4.9 percent expansion in the preceding quarter, mainly due to the IT & information services segment.
 
The finance & insurance sector expanded by 7.1 percent, following a 7.8 percent growth in the previous quarter, largely underpinned by the fund management segment.
 
The business sector advanced by 2.0 percent, slowing from a 3.2 percent growth in the previous quarter, mainly due to the rental & leasing and other administrative & support services segments.
 
The "other services industries" grew by 1.6 percent, slowing from a 1.8 percent growth in the previous quarter, mainly supported by the public administration & defence and education, health & social services segments.
 
For 2015, the Singapore economy is expected to grow between 2.0 to 2.5 percent from an earlier forecast of 2.0 to 4.0 percent.
 
On a quarter-on-quarter seasonally-adjusted annualised basis, the economy contracted by 4.0 percent, following a revised 4.1 percent expansion in the preceding quarter quarter. It is the deepest contraction since the third quarter of 2012. A contraction were seen for: the manufacturing sector (-18.3 percent from a 1.7 percent growth in the previous quarter), the transportation & storage sector (-10.3 percent from  a 6.5 percent), the  business services sector (- 3.6 percent from a 3.1 percent growth), the wholesale & retail trade sector (-1.7 percent from a 20.5 percent growth) and the accommodation & food services (-1.4 percent from a 6.5 percent contraction). In contrast, growth were seen for: the construction sector (+2.9 percent from +4.2 percent), the information & communications (+4.9 percent from +1.1 percent), the finance & insurance sector (+2.5 percent from -12.8 percent) and the "other services sector" (+4.4 percent from -0.7 percent).
 

Statistics Singapore l Rida Husna l rida@tradingeconomics.com
8/11/2015 3:30:09 AM


Recent Releases

Singapore GDP Growth at 3-Year Low
The Singapore's economy expanded by 1.7 percent year-on-year in the second quarter of 2015, lower than an upwardly revised 2.8 percent expansion in the preceding quarter and missing market forecasts. It is the slowest growth since the first quarter of 2012, as an expansion in the construction and the services sectors were unable to offset a decline in the manufacturing sector.
Published on 2015-07-14

Singapore GDP Revised Up to 2.6% in Q1
The Singapore's economy expanded by 2.6 percent on a year-on-year basis in the first quarter of 2015, up from a 2.1 percent growth in the preceding quarter and a preliminary estimate, as an expansion in the wholesale & retail trade and construction sector offset a decline in the manufacturing and a slowdown in the finance & insurance sector.
Published on 2015-05-26

Singapore Economy Grows at Steady Pace in Q1
The Singapore's economy expanded by 2.1 percent on a year-on-year basis in the first quarter of 2015, the same pace as in the preceding three month period as an expansion in the construction and the services sector offset a decline in the manufacturing.
Published on 2015-04-14

Singapore Economic Growth At Almost 2-Year Low
The Singapore economy expanded by 2.1 percent on a year-on-year basis in the fourth quarter of 2014, easing from the 2.8 percent rise in the preceding quarter as stronger growth in services was not enough to offset a decline in manufacturing.
Published on 2015-02-17


Singapore GDP Last Previous Highest Lowest Unit
GDP 307.87 302.25 307.87 0.70 USD Billion [+]
GDP Growth Rate -4.00 4.20 36.40 -13.00 percent [+]
GDP Annual Growth Rate 1.80 2.80 19.80 -8.90 percent [+]
GDP Constant Prices 96269.80 97267.30 97267.30 7052.10 SGD Million [+]
Gross National Product 378329.70 366618.40 378329.70 2195.90 SGD Million [+]
GDP per capita 38087.89 36897.87 38087.89 2529.86 USD [+]
Gross Fixed Capital Formation 24246.90 23846.00 25202.50 1860.50 SGD Million [+]
GDP per capita PPP 78958.09 76236.79 78958.09 34202.17 USD [+]
Gdp From Construction 4651.40 4618.40 4651.40 508.90 SGD Million [+]
Gdp From Manufacturing 17350.80 18252.10 18700.50 1303.30 SGD Million [+]
Gdp From Mining 148004.00 136523.00 151247.00 6309.34 [+]
Gdp From Services 1760.00 1766.20 1796.10 236.50 SGD Million [+]
Gdp From Transport 7298.90 7499.70 7499.70 543.10 SGD Million [+]
Gdp From Utilities 1331.50 1323.80 1331.50 130.20 SGD Million [+]


GDP Annual Growth Rate Reference Previous Highest Lowest Unit
Australia 2.30 Mar/15 2.50 9.00 -3.40 percent [+]
Brazil -2.60 Jun/15 -1.60 10.10 -3.15 percent [+]
Canada 2.06 Mar/15 2.63 8.80 -3.70 percent [+]
China 7.00 Jun/15 7.00 14.20 3.80 percent [+]
Euro Area 1.20 Jun/15 1.00 5.00 -5.60 percent [+]
France 1.00 Jun/15 0.82 12.50 -3.95 percent [+]
Germany 1.60 Jun/15 1.20 6.00 -7.90 percent [+]
India 7.50 Mar/15 6.60 11.40 -5.20 percent [+]
Indonesia 4.67 Jun/15 4.71 7.16 1.56 percent [+]
Italy 0.50 Jun/15 0.10 10.30 -6.90 percent [+]
Japan 0.70 Jun/15 -1.00 9.40 -9.40 percent [+]
Mexico 2.20 Jun/15 2.50 8.50 -8.10 percent [+]
Netherlands 1.60 Jun/15 2.50 5.80 -4.40 percent [+]
Russia -4.60 Jun/15 -2.20 12.10 -11.20 percent [+]
South Korea 2.20 Jun/15 2.50 18.20 -7.30 percent [+]
Spain 3.10 Jun/15 2.70 5.60 -4.30 percent [+]
Switzerland 1.20 Jun/15 1.20 5.40 -3.60 percent [+]
Turkey 2.30 Mar/15 2.60 12.60 -14.70 percent [+]
United Kingdom 2.60 Jun/15 2.90 9.80 -5.80 percent [+]
United States 2.70 Jun/15 2.90 13.40 -4.10 percent [+]