Singapore GDP Annual Growth Rate

The Gross Domestic Product (GDP) in Singapore expanded 5.10 percent in the first quarter of 2014 over the same quarter of the previous year. GDP Annual Growth Rate in Singapore is reported by the Statistics Singapore. GDP Annual Growth Rate in Singapore averaged 6.90 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. 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. 2014-04-23

Actual Previous Highest Lowest Forecast Dates Unit Frequency
5.10 5.50 19.80 -8.90 5.19 | 2014/03 1976 - 2014 Percent Quarterly

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Singapore GDP Annual Growth Rate
LIST BY COUNTRY


CALENDAR GMT Country Event Reference Actual Previous Consensus Forecast
2013-11-21 12:00 AM Singapore
GDP Growth Rate YoY
Q3 2013 (F) 5.8% 4.4% (R) 5.3% 6.15%
2014-01-02 12:00 AM Singapore
GDP Growth Rate YoY-Adv
Q4 2013 4.4% 5.9% (R) 6.15%
2014-02-20 12:00 AM Singapore
GDP Growth Rate YoY
Q4 2013 5.5% 5.8% (R) 5.3% 2.49%
2014-04-14 01:00 AM Singapore
GDP Growth Rate YoY-Adv
Q1 2014 5.1% 5.5% 5.1% 5.19%
2014-05-23 12:00 AM Singapore
GDP Growth Rate YoY-Final
Q1 2014 5.5% 5.1% 5.1%
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GDP Last Previous Highest Lowest Forecast Unit
GDP Growth Rate 0.10 2014-03-31 6.10 36.40 -13.00 0.10 2014-03-31 Percent [+]
GDP Annual Growth Rate 5.10 2014-03-31 5.50 19.80 -8.90 5.19 2014-03-31 Percent [+]
GDP per capita 33988.51 2012-12-31 34378.92 34378.92 2296.12 33961.57 2014-06-30 USD [+]
GDP per capita PPP 53266.08 2012-12-31 53877.93 53877.93 15115.98 53223.86 2014-06-30 USD [+]
GDP Constant Prices 82767.50 2013-11-15 81548.30 82767.50 6346.60 86884.14 2014-06-30 SGD Million [+]
Gross Fixed Capital Formation 18940.50 2013-11-15 19975.90 20218.00 1637.70 19427.08 2014-03-31 SGD Million [+]
Gross National Product 341640.90 2012-06-29 331346.70 341640.90 2195.90 342835.80 2012-12-31 SGD Million [+]
GDP 274.70 2012-12-31 245.02 274.70 0.65 315.52 2014-06-30 USD Billion [+]
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Singapore GDP Growth Slows in Q1

The Singapore economy grew by 5.1 percent on a year-on-year basis in the first quarter of 2014, lower than the 5.5 percent growth in the previous quarter, according to advance estimates. While manufacturing and construction accelerated, the services sector slowed.

On a year-on-year basis, the manufacturing sector grew by 8.0 percent, following the 7.0 percent expansion in the previous quarter. The faster pace of expansion was largely due to a sharp rebound in biomedical manufacturing output and stronger growth in chemicals output. 

The construction sector expanded by 6.5 percent on a year-on-year basis in the first quarter, an improvement from the 4.8 percent growth recorded in the preceding quarter. This was largely due to stronger expansion in public sector construction activities. 

Services producing industries grew by 4.7 percent, lower than the 5.9 per cent growth in the previous quarter. The moderation in growth was largely due to slower expansion in the wholesale & retail trade and finance & insurance sectors.

On a quarter-on-quarter seasonally adjusted annualized basis, the economy expanded a meager 0.1 percent, following a 6.1 percent expansion in the last three months of 2013, hurt by a contraction in the services sector. 

MTI | Joana Taborda | joana.taborda@tradingeconomics.com
4/14/2014 10:27:34 AM

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Singapore’s Economy Expands 4.4% in Q4
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GDP Annual Growth Rate | Notes
The annual growth rate in Gross Domestic Product measures the increase in value of the goods and services produced by an economy over the period of a year. Therefore, unlike the commonly used quarterly GDP growth rate the annual GDP growth rate takes into account a full year of economic activity, thus avoiding the need to make any type of seasonal adjustment.


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