Singapore GDP Annual Growth Rate  1976-2017 | Data | Chart | Calendar

The Singaporean economy expanded 2.9 percent year-on-year in the last three months of 2016, higher than 1.2 percent in the previous period and above initial estimates of a 1.8 percent growth. It is the highest expansion since the fourth quarter of 2014, mainly boosted by manufacturing, final figures showed. For the whole of 2016, the economy advanced 2 percent, above 1.9 percent in 2015 and higher than 1.8 percent initially estimated. GDP Annual Growth Rate in Singapore averaged 6.72 percent from 1976 until 2016, 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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Calendar GMT Reference Actual Previous Consensus Forecast (i)
2016-11-24 12:00 AM Q3 1.1% 2.0% 1% 0.7%
2017-01-03 12:00 AM Q4 1.8% 1.2% 0.6% 0.9%
2017-02-17 12:00 AM Q4 2.9% 1.2% 2.5% 2.2%
2017-04-14 12:00 AM Q1 2.9% 1.6%
2017-05-26 12:00 AM Q1 2.9% 1.6%
2017-07-14 12:00 AM Q2 1.5%




Singapore GDP Growth Revised Up To 2.9% In Q4


The Singaporean economy expanded 2.9 percent year-on-year in the last three months of 2016, higher than 1.2 percent in the previous period and above initial estimates of a 1.8 percent growth. It is the highest expansion since the fourth quarter of 2014, mainly boosted by manufacturing, final figures showed.

Year-on-year, the manufacturing sector grew 11.5 percent, higher than 1.8 percent in the previous quarter and above initial estimates of 6.5 percent. Electronics and biomedical sectors drove the expansion, namely semiconductors, pharmaceuticals and medical technology. The services producing industries advanced 1 percent, compared to a 0.4 percent growth in the September quarter and initial estimates of 0.6 percent. Contributions came from wholesale and retail trade, transportation and storage, accomodation, finance and insurance and other services.
 
In contrast, the construction sector contracted by 2.8 percent, extending the 2.2 percent decline in the third quarter, and in line with earlier figures due to a sharper drop in private sector construction activities.
 
On a quarterly basis, the GDP advanced an annualized 12.3 percent, recovering from a 0.4 percent contraction in the previous quarter and above earlier estimates of 9.1 percent. It is the strongest growth rate since the first quarter of 2011, mainly due to a rebound in manufacturing (+39.8 percent from -5 percent in Q3).
 
For the whole of 2016, the economy advanced 2 percent, above 1.9 percent in 2015 and higher than 1.8 percent initially estimated. For 2017, the GDP is expected to expand between 1 to 3 percent.

Statistics Singapore l Joana Taborda | joana.taborda@tradingeconomics.com
2/17/2017 11:46:19 AM



Singapore GDP Last Previous Highest Lowest Unit
GDP Growth Rate 12.30 -0.40 37.20 -13.50 percent [+]
GDP Annual Growth Rate 2.90 1.20 19.00 -8.80 percent [+]
GDP 292.74 306.34 306.34 0.70 USD Billion [+]
GDP Constant Prices 102738.20 99803.50 102738.20 7052.10 SGD Million [+]
Gross National Product 378329.70 366618.40 378329.70 2195.90 SGD Million [+]
Gross Fixed Capital Formation 24489.00 24138.70 26351.80 1860.50 SGD Million [+]
GDP per capita 51855.08 51440.82 51855.08 3389.56 USD [+]
GDP per capita PPP 80191.54 79550.90 80191.54 34298.03 USD [+]
GDP From Construction 4696.90 4687.50 4847.60 508.90 SGD Million [+]
GDP From Manufacturing 19121.20 17584.70 19121.20 1303.30 SGD Million [+]
GDP From Mining 68867.80 67494.10 68867.80 4133.60 SGD Million [+]
GDP From Services 18632.20 18530.90 18632.20 1333.10 SGD Million [+]
GDP From Transport 7996.20 7765.90 7996.20 543.10 SGD Million [+]
GDP From Utilities 1363.40 1344.20 1363.40 130.20 SGD Million [+]



Singapore GDP Annual Growth Rate Notes

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 March of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
2.90 1.20 19.00 -8.80 1976 - 2016 percent Quarterly



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