Singapore GDP Annual Growth Rate 1976-2014 | Data | Chart | Calendar

The Gross Domestic Product (GDP) in Singapore expanded 2.40 percent in the third quarter of 2014 over the same quarter of the previous year. GDP Annual Growth Rate in Singapore averaged 6.86 Percent from 1976 until 2014, 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.

   
  Forecast  

Singapore GDP Annual Growth Rate


Actual Previous Highest Lowest Dates Unit Frequency
2.40 2.40 19.80 -8.90 1976 - 2014 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, November 23, 2014.


Singapore GDP Grows 2.4% in Q3


Advance estimates showed the Singapore economy advanced 2.4 percent year-on-year in the third quarter of 2014, the same pace as in the previous three months, as expansion in service sector and stable manufacturing output were able to offset a sharp slowdown in construction sector.

On a year-on-year basis, the manufacturing sector grew by 1.4 percent in the third quarter, similar to 1.5 percent expansion in the previous quarter. Growth in this sector was supported primarily by the biomedical manufacturing and electronic clusters.

The construction sector grew by 1.4 percent,  significantly  slowing from a 4.1 percent growth in the second quarter, mainly due to weaker private sector construction activities.

The services producing industries grew by 2.9 percent, slightly higher than 2.8 percent growth in the preceding quarter. The expansion was supported primarily by the finance and insurance and business services sectors.

On a quarter-on-quarter seasonally adjusted annualized basis, the GDP expanded by 1.2 percent, a reversal from 0.1 percent contraction in the previous quarter.

Ministry of Trade and Industry l Rida l rida@tradingeconomics.com
10/14/2014 11:55:46 AM


Recent Releases

Singapore GDP Growth Slows to 2.4% in Q2
Singapore’s economy expanded 2.4 percent year-on-year in the second quarter of 2014 after growing a revised 4.8 percent in the previous three month period due to a broad slowdown across all sectors of the economy. Published on 2014-08-12

Singapore GDP Growth Slows in Q2
Advance estimates showed the Singaporean economy rose at the slowest pace in five quarters. The GDP advanced 2.1 percent in the second quarter of 2014, lower than the 4.7 percent growth in the previous three months, as production in all main sectors of the economy slowed. Published on 2014-07-14


Calendar GMT Event Actual Previous Consensus Forecast (i)
2014-07-14 01:00 AM
GDP Growth Rate YoY Adv  Q2 2014
2.1% 4.7% (R) 3.1% 6.08%
2014-08-12 01:00 AM
GDP Growth Rate YoY Final  Q2 2014
2.4% 4.8% (R) 2.4% 2.1%
2014-10-14 01:00 AM
GDP Growth Rate YoY Adv  Q3 2014
2.4% 2.4% 2.8% 2.29%
2014-11-25 12:00 AM
GDP Growth Rate YoY Final  Q3 2014
2.4% 2.5%


Singapore GDP Last Previous Highest Lowest Unit
GDP 297.94 286.91 297.94 0.70 USD Billion [+]
GDP Growth Rate 1.20 -0.10 36.40 -13.00 percent [+]
GDP Annual Growth Rate 2.40 2.40 19.80 -8.90 percent [+]
GDP Constant Prices 93173.70 93156.80 93173.70 6346.60 SGD Million [+]
Gross National Product 363827.20 350029.70 363827.20 2195.90 SGD Million [+]
GDP per capita 36897.87 36110.13 36897.87 2529.86 USD [+]
Gross Fixed Capital Formation 22809.80 23254.80 23254.80 1637.70 SGD Million [+]
GDP per capita PPP 76236.79 74609.19 76236.79 34202.17 USD [+]