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

The Gross Domestic Product (GDP) in Singapore expanded 1.70 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
1.70 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 Sunday, August 2, 2015.


Calendar GMT Reference Actual Previous Consensus Forecast (i)
2015-04-14 01:00 AM Q1 2.1% 2.1% 1.8% 1.9%
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%
2015-08-21 01:00 AM Q2 2.8% 1.7% 1.7%
2015-10-14 01:00 AM Q3 1.75%
2015-11-25 12:00 AM Q3


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.

According to advance estimates, the manufacturing sector contracted by 4.0 percent year-on-year in the June quarter, extending a 2.7 percent decline in the first quarter, largely due to a fall in output in the biomedical manufacturing and transport engineering clusters. 

The construction sector expanded by 2.7 percent year-on-year in the second quarter, improving from a 2.1 percent growth recorded in the previous quarter. Growth was supported by stronger expansion in public sector construction activities.

Growth in the services producing industries came in at 3.0 percent compared to the preceding year, easing from 4.2 percent in the previous quarter. The moderation in growth was largely due to slower expansion in the wholesale & retail trade and business services sectors, as well as a contraction in the transportation & storage sector. 

On a quarter-on-quarter seasonally-adjusted annualized basis, the economy contracted by 4.6 percent from an upwardly revised 4.2 percent growth in the preceding quarter. It is the steepest fall since the third quarter of 2012. All sectors in the economy declined. The manufacturing sector dropped the most by 14.0 percent, reversing from a 0.4 percent growth in the first quarter. The services sector contracted by 2.6 percent, following a 3.8 percent expansion in the previous quarter and  the construction sector contracted by 0.2 percent, after registering a 8.3 percent growth in the preceding quarter.

Statistics Singapore l Rida Husna l rida@tradingeconomics.com
7/14/2015 10:36:05 AM


Recent Releases

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 Economic Growth Slows in Q4
Singapore GDP expanded by 1.5 percent on a year on year basis in the fourth quarter of 2014, compared to 2.8 percent growth reported in the previous period, according to advance estimates. While expansion in construction and services moderated, manufacturing contracted.
Published on 2015-01-02


Singapore GDP Last Previous Highest Lowest Unit
GDP 307.87 302.25 307.87 0.70 USD Billion [+]
GDP Growth Rate -4.60 4.20 36.40 -13.00 percent [+]
GDP Annual Growth Rate 1.70 2.80 19.80 -8.90 percent [+]
GDP Constant Prices 97051.10 96289.00 97051.10 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 24614.90 24332.20 25202.50 1860.50 SGD Million [+]
GDP per capita PPP 78958.09 76236.79 78958.09 34202.17 USD [+]


GDP Annual Growth Rate Reference Previous Highest Lowest Unit
Australia 2.30 Mar/15 2.50 9.00 -3.40 percent [+]
Brazil -1.60 Mar/15 -0.20 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 1.00 Mar/15 0.90 5.00 -5.60 percent [+]
France 0.82 Mar/15 0.03 12.50 -3.95 percent [+]
Germany 1.10 Mar/15 1.60 5.20 -6.80 percent [+]
India 7.50 Mar/15 6.60 11.40 -5.20 percent [+]
Indonesia 4.71 Mar/15 5.01 7.16 1.56 percent [+]
Italy 0.10 Mar/15 -0.50 10.30 -6.90 percent [+]
Japan -0.90 Mar/15 -1.00 9.40 -9.40 percent [+]
Mexico 2.50 Mar/15 2.60 8.50 -8.10 percent [+]
Netherlands 2.50 Mar/15 1.60 5.80 -4.40 percent [+]
Russia -2.20 Mar/15 0.40 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 1.10 Mar/15 1.90 7.30 -3.70 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 2.30 Jun/15 2.40 13.40 -4.10 percent [+]