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

The Gross Domestic Product (GDP) in Singapore expanded 2.10 percent in the fourth quarter of 2014 over the same quarter of the previous year. GDP Annual Growth Rate in Singapore averaged 6.81 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
2.10 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 Tuesday, March 3, 2015.


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.

The manufacturing sector contracted by 1.3 percent year-on-year, reversing the 1.7 percent growth in the previous quarter. Growth in the sector was weighed down primarily by the transport engineering and electronics clusters.

Growth in the construction sector eased to 0.7 percent year-on-year, from 1.1 per cent in the previous quarter, due to weaker private sector construction activities. 

The wholesale & retail trade sector grew by 0.6 percent year-on-year, moderating from the 2.1 percent growth in the preceding quarter. 

The transportation & storage sector contracted by 0.4 percent year-on-year, compared to the 0.1 percent growth in the previous quarter. Growth was weighed down mainly by the water transport, and storage & other support services segments. 

Growth in the finance & insurance sector accelerated to 10.3 percent year-on year, from 9.9 percent in the previous quarter supported mainly by the fund management activities and insurance segments. 

The information & communications sector grew by 4.4 percent year-on-year, higher than the 4.0 percent growth in the previous quarter.

The business services sector expanded at a slightly faster pace of 2.9 percent year-on-year, compared to 2.6 percent in the previous quarter supported mainly by the rental & leasing, and other professional, scientific & technical activities segments. 

Growth in the accommodation & food services sector picked up to 1.3 percent year-on-year, from 1.0 percent in the previous quarter. 

On a quarter-on-quarter seasonally-adjusted annualised basis, the economy expanded at a faster pace of 4.9 percent, compared to 2.6 percent in the previous quarter.

For the whole of 2014, the Singapore economy expanded by 2.9 percent, slower than the 4.4 percent in 2013. Growth in the manufacturing sector improved from 1.7 percent in 2013 to 2.6 percent in 2014, supported by the biomedical manufacturing and chemicals clusters. On the other hand, growth in the construction sector moderated to 3.0 percent from 6.3 percent in 2013, weighed down by private sector construction activities.The services producing industries grew by 3.2 percent in 2014, easing from the 6.1 percent growth in 2013. Growth was supported mainly by the finance & insurance and business services sectors, which recorded growth rates of 7.7 percent and 2.9 percent respectively. The wholesale & retail trade, transportation & storage, and information & communications sectors expanded by 1.7 percent, 1.7 percent and 3.6 percent respectively

Singstat | anna@tradingeconomics.com
2/17/2015 12:33:16 AM


Recent Releases

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 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


Calendar GMT Event Actual Previous Consensus Forecast (i)
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%
2015-02-17 12:00 AM
GDP Growth Rate YoY Final  Q4
2.1% 2.8% 1.7% 1.5%
2015-04-14 01:00 AM
GDP Growth Rate YoY Adv  Q1
2.1% 0.91%
2015-05-25 01:00 AM
GDP Growth Rate YoY Final  Q1
2.1%
2015-07-14 01:00 AM
GDP Growth Rate YoY Adv  Q2
0.77%


Singapore GDP Last Previous Highest Lowest Unit
GDP 297.94 286.91 297.94 0.70 USD Billion [+]
GDP Growth Rate 4.90 2.60 36.40 -13.00 percent [+]
GDP Annual Growth Rate 2.10 2.80 19.80 -8.90 percent [+]
GDP Constant Prices 96289.00 95142.00 96289.00 7052.10 SGD Million [+]
Gross National Product 378329.70 366618.40 378329.70 2195.90 SGD Million [+]
GDP per capita 36897.87 36110.13 36897.87 2529.86 USD [+]
Gross Fixed Capital Formation 24332.20 23818.10 25202.50 1860.50 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 0.90 Nov/14 0.80 5.00 -5.50 percent [+]
France 0.22 Nov/14 0.41 12.50 -3.92 percent [+]
Germany 1.60 Nov/14 1.20 5.20 -6.80 percent [+]
India 7.50 Nov/14 8.20 11.40 -5.20 percent [+]
Indonesia 5.01 Nov/14 4.92 7.16 1.56 percent [+]
Italy -0.30 Nov/14 -0.40 10.30 -6.90 percent [+]
Japan -0.50 Nov/14 -1.40 9.40 -9.40 percent [+]
Mexico 2.60 Nov/14 2.20 8.50 -8.10 percent [+]
Netherlands 1.00 Nov/14 1.00 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 2.00 Nov/14 1.60 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 2.70 Nov/14 2.60 9.80 -5.80 percent [+]
United States 2.40 Nov/14 2.70 13.40 -4.10 percent [+]