Singapore GDP Annual Growth Rate

The Gross Domestic Product (GDP) in Singapore expanded 2.10 percent in the second 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.

   
 
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Singapore GDP Annual Growth Rate


Actual Previous Highest Lowest Dates Unit Frequency
2.10 4.70 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.


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.

On a year-on-year basis, the manufacturing sector grew by 0.2 percent in the second quarter, moderating from the 9.9 percent expansion in the previous quarter. The deceleration in growth was largely due to a contraction in electronics output and slower growth in transport engineering output.

The construction sector grew by 5.0 percent, compared to 6.4 percent in the preceding quarter, due to a slowdown in private sector construction activities.

The services producing industries grew by 2.8 percent, following the 3.9 percent growth in the previous quarter. The moderation in growth was largely due to slower expansion in the wholesale and retail trade and transportation and storage sectors.

On a quarter-on-quarter seasonally adjusted basis, the GDP contracted for the first time in seven quarters by an annualized 0.8 percent.

MTI | Joana Taborda | joana.taborda@tradingeconomics.com
7/14/2014 9:13:58 AM


Recent Releases

Singapore GDP Advances 4.9% YoY in Q1
Singapore’s economy expanded 4.9 percent year-on-year in the first quarter of 2014 after growing a revised 4.9 percent in the previous three months. The final figure comes slightly below the advance estimate of a 5.1 percent expansion. Published on 2014-05-20

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. Published on 2014-04-14


Calendar GMT Country Event Reference Actual Previous Consensus Forecast
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%
2014-05-20 01:00 AM Singapore
GDP Growth Rate YoY-Final
Q1 2014 4.9% 4.9% (R) 5.5% 5.1%
2014-07-14 01:00 AM Singapore
GDP Growth Rate YoY Adv
Q2 2014 2.1% 4.7% (R) 3.1% 6.08%
2014-08-22 01:00 AM Singapore
GDP Growth Rate YoY Final
Q2 2014 4.7% 2.1% 2.1%


GDP Last Previous Highest Lowest Unit
GDP 297.94 286.91 297.94 0.70 USD Billion [+]
GDP Growth Rate -0.80 1.60 36.40 -13.00 Percent [+]
GDP Annual Growth Rate 2.10 4.70 19.80 -8.90 Percent [+]
GDP Constant Prices 93283.20 92745.00 93283.20 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 23296.20 22951.30 23296.20 1637.70 SGD Million [+]
GDP per capita PPP 53266.08 53877.93 53877.93 15115.98 USD [+]





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