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

The Gross Domestic Product (GDP) in Singapore expanded 1.50 percent in the fourth quarter of 2014 over the same quarter of the previous year. GDP Annual Growth Rate in Singapore averaged 6.80 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
1.50 2.80 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 Monday, January 26, 2015.


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.

Year on year, the manufacturing sector contracted by 2 percent, a reversal from the 1.7 percent expansion in Q3. The drop was mainly due to a decline in the output of the transport engineering, electronics and general manufacturing clusters. The construction sector grew by 0.8 percent, moderating from the 1.3 percent growth in Q3 supported mainly by public sector construction activities. The services grew by 2.6 percent, easing from 3.4 percent growth in Q3 and driven primarily by the finance & insurance and business services sectors.

On a quarter on quarter seasonally adjusted annualised basis, the economy expanded by 1.6 percent slower than the 3.1 percent in the previous period. The manufacturing sector contracted by 5.8 percent, reversing 3 percent growth registered in Q3. The construction sector expanded 8 percent, an improvement from the 0.1 percent expansion in Q3 and the services sector grew by 3.8 percent, similar to the 3.6 percent expansion in Q3.

For the whole of 2014, the economy is estimated to have grown by 2.8 percent in line with earlier announced growth forecast of around 3 percent.

The advance GDP estimates are computed largely from data in the first two months of the quarter and are subject to revision when more comprehensive data becomes available.

Statistics Singapore | anna@tradingeconomics.com
1/2/2015 12:36:58 AM


Recent Releases

Singapore GDP Growth Revised UP
Singapore's GDP advanced 2.8 percent year-on-year in the third quarter of 2014, up from a revised 2.3 percent expansion in the preceding quarter and a preliminary estimate of 2.4 percent. The figure came above expectations, mainly driven by manufacturing. Published on 2014-11-25

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. Published on 2014-10-14


Calendar GMT Event Actual Previous Consensus Forecast (i)
2014-10-14 01:00 AM
GDP Growth Rate YoY Adv  Q3
2.4% 2.4% 2.8% 2.29%
2014-11-25 12:00 AM
GDP Growth Rate YoY Final  Q3
2.8% 2.3% (R) 2.5%
2015-01-02 12:00 AM
GDP Growth Rate YoY Adv  Q4
1.5% 2.8% 2.0% 1.82%
2015-02-25 12:00 AM
GDP Growth Rate YoY Final  Q4
2.8%
2015-04-14 01:00 AM
GDP Growth Rate YoY-Adv  Q1
0.91%
2015-05-25 01:00 AM
GDP Growth Rate YoY-Final  Q1


Singapore GDP Last Previous Highest Lowest Unit
GDP 297.94 286.91 297.94 0.70 USD Billion [+]
GDP Growth Rate 1.60 3.10 36.40 -13.00 percent [+]
GDP Annual Growth Rate 1.50 2.80 19.80 -8.90 percent [+]
GDP Constant Prices 93824.90 93115.30 93824.90 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 23287.30 22666.00 23287.30 1637.70 SGD Million [+]
GDP per capita PPP 76236.79 74609.19 76236.79 34202.17 USD [+]


GDP Annual Growth Rate Reference Previous Highest Lowest Unit
Australia 2.70 Aug/14 2.70 9.00 -3.40 percent [+]
Brazil -0.20 Aug/14 -0.90 10.10 -3.15 percent [+]
Canada 2.59 Aug/14 2.54 8.80 -3.70 percent [+]
China 7.30 Nov/14 7.30 14.20 3.80 percent [+]
Euro Area 0.80 Aug/14 0.80 5.00 -5.50 percent [+]
France 0.40 Aug/14 0.00 4.90 -4.30 percent [+]
Germany 1.20 Aug/14 1.00 5.20 -6.80 percent [+]
India 5.30 Aug/14 5.70 11.40 -5.20 percent [+]
Indonesia 4.90 Nov/14 5.01 7.16 1.56 percent [+]
Italy -0.50 Aug/14 -0.30 10.30 -6.90 percent [+]
Japan -1.20 Aug/14 -0.20 9.40 -9.40 percent [+]
Mexico 2.20 Aug/14 1.60 8.50 -8.10 percent [+]
Netherlands 1.00 Aug/14 1.10 5.80 -4.40 percent [+]
Russia 0.70 Aug/14 0.80 12.10 -11.20 percent [+]
South Korea 2.70 Nov/14 3.20 18.20 -7.30 percent [+]
Spain 1.60 Aug/14 1.30 5.80 -4.40 percent [+]
Switzerland 1.90 Aug/14 1.60 7.30 -3.70 percent [+]
Turkey 1.70 Aug/14 2.20 12.60 -14.70 percent [+]
United Kingdom 2.60 Aug/14 2.60 9.80 -5.80 percent [+]
United States 2.70 Aug/14 2.60 13.40 -4.10 percent [+]