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

The Singaporean economy advanced 1.8 percent year-on-year in the fourth quarter of 2016 after growing by an upwardly revised 1.2 percent in the previous period and above market consensus of a 0.6 percent expansion, the advance estimate showed. Considering the full year, the economy advanced 1.8 percent, exceeding the government's previous forecast of 1.0-1.5 percent expansion, but still the lowest growth since 2009. GDP Annual Growth Rate in Singapore averaged 6.70 percent from 1976 until 2016, reaching an all time high of 18.90 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)
2016-10-14 12:00 AM Q3 0.6% 2.0% 1.7% 1.6%
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%
2017-02-24 12:00 AM Q4 1.2% 1.8% 1.8%
2017-04-14 12:00 AM Q1 1.6%
2017-05-26 12:00 AM Q1 1.6%




Singapore GDP Grows 1.8% YoY In Q4


The Singaporean economy advanced 1.8 percent year-on-year in the fourth quarter of 2016 after growing by an upwardly revised 1.2 percent in the previous period and above market consensus of a 0.6 percent expansion, the advance estimate showed. Considering the full year, the economy advanced 1.8 percent, exceeding the government's previous forecast of 1.0-1.5 percent expansion, but still the lowest growth since 2009.

Year-on-year, the manufacturing sector expanded by 6.5 percent, following a 1.7 percent growth in the previous three months, driven by the electronics and biomedical manufacturing clusters. The services producing industries advanced 0.6 percent, compared to a 0.3 percent growth in the September quarter, largely due to the other services industries, transportation and storage, and business service sectors.

By contrast, the construction sector contracted by 2.8 percent, extending the 0.2 percent decline in the third quarter, due to a sharper decline in private sector construction activities.

On a quarter-on-quarter seasonally-adjusted annualized basis, the economy grew firmly by 9.1 percent, following a downwardly revised 1.9 percent fall in the September quarter and better than market expectations of a 3.7 percent growth. It was the strongest growth rate since the second quarter of 2013, mainly due to a rebound in manufacturing (+14.6 percent from -8.1 percent in Q3) and services (+9.4 percent from -0.4 percent) while construction continued to fall (-4.7 percent from -14.8 percent).

For the whole of 2016, the economy advanced 1.8 percent from the previous year, exceeding the government's previous forecast of 1.0-1.5 percent expansion, but still the lowest growth since 2009. Manufacturing was the main driver of growth (+2.3 percent from -5.2 percent in 2015) while output rose at a slower pace for services (+0.9 percent from +3.4 percent) and construction (+1.3 percent from +2.5 percent).

Statistics Singapore l Joana Ferreira | joana.ferreira@tradingeconomics.com
1/3/2017 12:39:23 AM



Singapore GDP Last Previous Highest Lowest Unit
GDP Growth Rate 9.10 -1.90 37.20 -13.50 percent [+]
GDP Annual Growth Rate 1.80 1.20 18.90 -8.80 percent [+]
GDP 292.74 306.34 306.34 0.70 USD Billion [+]
GDP Constant Prices 98684.20 99180.30 99180.30 7052.30 SGD Million [+]
Gross National Product 378329.70 366618.40 378329.70 2195.90 SGD Million [+]
Gross Fixed Capital Formation 23538.70 25123.20 26184.70 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 4743.80 4815.00 4815.00 508.90 SGD Million [+]
GDP From Manufacturing 17391.00 17755.10 18606.30 1303.30 SGD Million [+]
GDP From Mining 66481.00 66784.30 67723.20 4133.60 SGD Million [+]
GDP From Services 18509.50 18861.50 18990.40 1333.10 SGD Million [+]
GDP From Transport 7535.40 7649.60 7649.60 543.10 SGD Million [+]
GDP From Utilities 1341.90 1361.80 1361.80 130.20 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 January of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
1.80 1.20 18.90 -8.80 1976 - 2016 percent Quarterly



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