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

The Gross Domestic Product (GDP) in Singapore expanded 2.80 percent in the third quarter of 2014 over the same quarter of the previous year. GDP Annual Growth Rate in Singapore averaged 6.84 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
2.80 2.30 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 Wednesday, November 26, 2014.


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.

Year-on-year, the manufacturing sector expanded by 1.9 percent, a slight improvement from the 1.5 percent growth in the previous quarter. Growth in the sector was supported primarily by the biomedical manufacturing and chemicals clusters. On a

Growth in the construction sector moderated to 1.7 percent compared to 3.7 percent in the previous quarter. This was primarily due to  weaker private sector construction activities.

The wholesale & retail trade sector grew by 2.0 percent, faster than the 1.8 percent growth in the preceding quarter. The slight pickup in growth was due to a smaller drag from the retail trade segment, even as the wholesale trade segment grew at a similar pace as in the previous quarter. -

The transportation & storage sector expandedby 0.1 percent, moderating from the 2.1 percent growth in  the second quarter. Growth was weighed down by the
water and air transport segments.

Growth in the finance & insurance sector surged to 10.5 percent, from 5.5 percent in the previous quarter. The sector’s growth was supported mainly by the financial intermediation and insurance segments.

On a quarter-on-quarter seasonally-adjusted annualised basis, the economy expanded by 3.1 percent, a reversal from the 0.3 percent decline in the previous quarter.

The economy is expected to advance 3 percent in 2014, according to estimates from the Ministry of Trade and Industry.

Ministry of Trade and Industry l Joana Taborda | joana.taborda@tradingeconomics.com
11/25/2014 12:25:53 AM


Recent Releases

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

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


Calendar GMT Event Actual Previous Consensus Forecast (i)
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
2.8% 2.3% (R) 2.5%
2015-01-15 12:00 AM
GDP Growth Rate YoY - Adv  Q4 2014
2.8%
2015-02-25 12:00 AM
GDP Growth Rate QoQ - Final  Q4 2014
2.8%
2015-04-15 01:00 AM
GDP Growth Rate YoY - Adv  Q1 2015


Singapore GDP Last Previous Highest Lowest Unit
GDP 297.94 286.91 297.94 0.70 USD Billion [+]
GDP Growth Rate 3.10 -0.30 36.40 -13.00 percent [+]
GDP Annual Growth Rate 2.80 2.30 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 3.10 May/14 3.50 9.00 -3.40 percent [+]
Brazil -0.90 May/14 1.90 10.10 -3.15 percent [+]
Canada 2.45 May/14 2.14 8.80 -3.70 percent [+]
China 7.30 Aug/14 7.50 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 5.70 May/14 4.60 11.40 -5.20 percent [+]
Indonesia 5.01 Aug/14 5.12 7.16 1.56 percent [+]
Italy -0.40 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 1.10 Aug/14 1.10 5.80 -4.40 percent [+]
Russia 0.70 Aug/14 0.80 12.10 -11.20 percent [+]
South Korea 3.20 Aug/14 3.50 18.20 -7.30 percent [+]
Spain 1.60 Aug/14 1.30 5.80 -4.40 percent [+]
Switzerland 0.60 May/14 2.10 7.30 -3.70 percent [+]
Turkey 2.10 May/14 4.70 12.60 -14.70 percent [+]
United Kingdom 3.00 Aug/14 3.20 9.80 -5.80 percent [+]
United States 2.40 Aug/14 2.60 13.40 -4.10 percent [+]