Singapore GDP Annual Growth Rate  1976-2016 | Data | Chart | Calendar

Singapore's gross domestic product expanded 2.1 percent year-on-year in the second quarter of 2016, unchanged from the first quarter and missing advanced estimate of 2.2 percent, final figures showed. Manufacturing was the main driver of growth while services and construction sectors slowed. On a quarter-on-quarter seasonally-adjusted annualized basis, the economy grew by 0.3 percent, compared to a 0.1 percent expansion in the March quarter but much lower than first estimate of a 0.8 percent growth. Meanwhile, Singapore's Ministry of Trade and Industry cut its economic growth forecast for 2016 amid uncertainties about Brexit, rising corporate credit levels in China and slowing global demand, GDP Annual Growth Rate in Singapore averaged 6.76 percent from 1976 until 2016, reaching an all time high of 18.90 percent in the second quarter of 2010 and a record low of -8.80 percent in the first quarter of 2009. GDP Annual Growth Rate in Singapore is reported by the Statistics Singapore.

Singapore GDP Annual Growth Rate
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Actual Previous Highest Lowest Dates Unit Frequency
2.10 2.10 18.90 -8.80 1976 - 2016 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 Annual Growth Rate - actual data, historical chart and calendar of releases - was last updated on September of 2016.


Calendar GMT Reference Actual Previous Consensus Forecast (i)
2016-05-25 12:00 AM Q1 1.8% 1.8% 1.8% 1.8%
2016-07-14 12:00 AM Q2 2.2% 2.1% 2.2% 2.0%
2016-08-11 12:00 AM Q2 2.1% 2.1% 2.2% 2.2%
2016-10-14 12:00 AM Q3 2.1% 1.6%
2016-11-25 12:00 AM Q3 2.1%

Singapore GDP Growth Revised Down to 2.1% YoY in Q2


The Singaporean economy grew by 2.1 percent year-on-year in the second quarter of 2016, the same pace as in the previous three months but slightly lower than a preliminary estimates of a 2.2 percent growth, final figures showed. On a quarter-on-quarter seasonally-adjusted annualized basis, the economy grew by 0.3 percent, much lower than a 0.8 percent expansion estimated earlier but slightly faster than a 0.1 percent expansion in the first quarter 2016.

In the June quarter, the manufacturing sector advanced 1.1 percent year-on-year, a reversal from a 0.5 percent decline in the previous quarter, mainly supported by the electronics and biomedical manufacturing clusters. 

Growth in the construction sector slowed to 3.3 percent, following a 4.0 percent increase in the previous period, due to a decline in private sector construction works.

The services producing industries grew by 1.4 percent, lower than an earlier estimates of a 1.7 percent increase. The wholesale & retail trade sector expanded by 2.2 percent (from a 2.9 percent growth in the March quarter, driven by motor vehicle sales). The transportation & storage rose 2.9 percent, following a 0.1 percent contraction in the prior quarter, mostly supported by the water transport segment, which expanded on the back of an increase in sea cargo handled. The accommodation & food services sector posted a 1.6 percent growth, compared to a 1.7 percent expansion in the previous three months, contributed by the accommodation segment, while the performance of the food & beverage segment remained sluggish. The information & communication sector grew by 1.2 percent, following a 3.1 percent expansion in the March quarter. Growth was weighed down by the weak performance of the publishing and broadcasting industries. The finance & insurance sector expanded 0.8 percent, slowing from a 2.7 percent increase, underpinned by the forex trading and insurance segments. The business services sector recorded a 1.2 percent decline, compared to a 0.1 percent growth in the first quarter, mainly due to a decline in real estate segment. Growth in the "other services industries" stood at 1.6 percent, faster than a 0.8 percent rise in the preceding quarter, largely supported by the public administration & defence and education, health  & social services. 

On a quarter-on-quarter seasonally-adjusted annualized basis, the economy advanced 0.3 percent, much lower than a 0.8 percent expansion estimated earlier but slightly faster than a 0.1 percent expansion in the first quarter 2016. A faster increase in the construction sector was unable to offset a decline in the services sector and a slowdown in manufacturing. The construction sector grew by 5.3 percent, accelerating from a 1.4 percent growth in the March quarter. The manufacturing sector grew by 1.0 percent, slowing from a 18.7 percent in Q1. In contrast, the services sector declined by 0.6 percent, mainly due to a 11.2 percent contraction in the finance and service sector, a 4.0 percent drop in the accommodation & food services and a 3.6 percent drop in the business services sector.

Meanwhile, amid uncertainties about Brexit,  the rising corporate credit levels in China and slowing global demand, the Ministry of Trade and Industry Singapore narrowed its economic growth forecast to 1 to 2 percent for 2016 from an earlier projection of 1 to 3 percent.

Statistics Singapore l Rida Husna | rida@tradingeconomics.com
8/11/2016 4:48:11 AM

Singapore GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.30 0.10 37.20 -13.50 percent [+]
GDP Annual Growth Rate 2.10 2.10 18.90 -8.80 percent [+]
GDP 292.74 306.34 306.34 0.70 USD Billion [+]
GDP Constant Prices 99245.30 99169.30 99245.30 7052.30 SGD Million [+]
Gross National Product 378329.70 366618.40 378329.70 2195.90 SGD Million [+]
Gross Fixed Capital Formation 25123.20 23478.50 26184.70 1860.50 SGD Million [+]
GDP per capita 51855.08 51440.82 51855.08 3389.56 USD [+]
GDP per capita PPP 80191.54 79550.90 80191.54 34298.03 USD [+]
GDP From Construction 4815.00 4752.70 4815.00 508.90 SGD Million [+]
GDP From Manufacturing 17755.10 17711.60 18606.30 1303.30 SGD Million [+]
GDP From Mining 66784.30 66879.70 67723.20 4133.60 SGD Million [+]
GDP From Services 18861.50 18693.60 18990.40 1333.10 SGD Million [+]
GDP From Transport 7649.60 7527.10 7649.60 543.10 SGD Million [+]
GDP From Utilities 1361.80 1359.40 1361.80 130.20 SGD Million [+]




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Ethiopia 9.60 Dec/15
Ivory Coast 9.40 Mar/16
Papua New Guinea 9.00 Dec/15
Dominican Republic 8.70 Jun/16
Palestine 8.00 Mar/16
Uzbekistan 7.80 Jun/16
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Monaco 7.20 Dec/14
India 7.10 Jun/16
Bangladesh 7.05 Dec/16
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Myanmar 7.00 Dec/15
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Cambodia 6.90 Dec/15
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Tajikistan 6.50 Jun/16
Turkmenistan 6.50 Dec/15
Paraguay 6.20 Jun/16
Benin 6.10 Jun/16
Romania 6.00 Jun/16
Burkina Faso 5.90 Jun/16
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Senegal 5.70 Jun/16
Chad 5.60 Dec/15
Vietnam 5.55 Jun/16
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Mali 5.40 Mar/16
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Angola 4.90 Dec/15
Central African Republic 4.90 Dec/15
Ghana 4.90 Mar/16
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Niger 4.90 Dec/15
Sudan 4.90 Dec/15
Costa Rica 4.80 Mar/16
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Gambia 4.70 Dec/15
Luxembourg 4.40 Mar/16
Cuba 4.30 Dec/15
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Gabon 4.20 Dec/15
Ireland 4.10 Jun/16
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Cameroon 3.70 Mar/16
Iceland 3.70 Jun/16
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Peru 3.70 Jun/16
Slovakia 3.70 Jun/16
Brunei 3.60 Mar/16
Honduras 3.60 Dec/15
New Zealand 3.60 Jun/16
Namibia 3.50 Mar/16
Thailand 3.50 Jun/16
Lesotho 3.40 Dec/15
Sweden 3.40 Jun/16
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Australia 3.30 Jun/16
South Korea 3.30 Jun/16
Comoros 3.20 Dec/15
Spain 3.20 Jun/16
Germany 3.10 Jun/16
Mauritania 3.10 Dec/15
Poland 3.10 Jun/16
Turkey 3.10 Jun/16
Albania 3.00 Mar/16
Bulgaria 3.00 Jun/16
Georgia 3.00 Jun/16
Guyana 3.00 Dec/15
Madagascar 3.00 Dec/15
Malta 3.00 Jun/16
Israel 2.90 Jun/16
Malawi 2.90 Dec/15
Botswana 2.80 Mar/16
Croatia 2.80 Jun/16
Guatemala 2.80 Mar/16
Saudi Arabia 2.80 Jun/16
Cyprus 2.70 Jun/16
Slovenia 2.70 Jun/16
Czech Republic 2.60 Jun/16
Hungary 2.60 Jun/16
Somalia 2.60 Dec/14
Sri Lanka 2.60 Jun/16
Bahrain 2.50 Jun/16
El Salvador 2.50 Mar/16
Mexico 2.50 Jun/16
Norway 2.50 Jun/16
Cayman Islands 2.40 Mar/16
Iraq 2.40 Dec/15
Jordan 2.30 Mar/16
Netherlands 2.30 Jun/16
Macedonia 2.20 Jun/16
United Kingdom 2.20 Jun/16
Afghanistan 2.10 Dec/15
Bosnia and Herzegovina 2.10 Mar/16
Latvia 2.10 Jun/16
Singapore 2.10 Jun/16
Colombia 2.00 Jun/16
Serbia 2.00 Jun/16
Switzerland 2.00 Jun/16
Lithuania 1.90 Jun/16
European Union 1.80 Jun/16
Kuwait 1.80 Dec/15
Moldova 1.80 Jun/16
Haiti 1.70 Dec/15
Hong Kong 1.70 Jun/16
Swaziland 1.70 Dec/15
Euro Area 1.60 Jun/16
Armenia 1.50 Jun/16
Chile 1.50 Jun/16
Suriname 1.50 Dec/15
Zimbabwe 1.50 Dec/15
Belgium 1.40 Jun/16
Mongolia 1.40 Jun/16
Morocco 1.40 Jun/16
Tunisia 1.40 Jun/16
Ukraine 1.40 Jun/16
Uruguay 1.40 Jun/16
France 1.30 Jun/16
New Caledonia 1.30 Dec/14
Austria 1.20 Jun/16
Bahamas 1.20 Dec/15
Republic of the Congo 1.20 Dec/15
United States 1.20 Jun/16
Montenegro 1.10 Mar/16
Qatar 1.10 Mar/16
Lebanon 1.00 Dec/15
Barbados 0.90 Dec/15
Canada 0.90 Jun/16
Portugal 0.90 Jun/16
Estonia 0.80 Jun/16
Italy 0.80 Jun/16
Jamaica 0.80 Mar/16
Japan 0.80 Jun/16
Nepal 0.77 Dec/15
Taiwan 0.70 Jun/16
Iran 0.60 Mar/15
South Africa 0.60 Jun/16
Denmark 0.40 Jun/16
Finland 0.40 Jun/16
Eritrea 0.30 Dec/15
Liberia 0.30 Dec/15
Guinea 0.10 Dec/15
Kazakhstan 0.10 Jun/16
Greece -0.40 Jun/16
Puerto Rico -0.60 Dec/15
Russia -0.60 Jun/16
Liechtenstein -0.80 Dec/14
North Korea -1.10 Dec/15
Belarus -1.30 Jun/16
Uganda -1.30 Mar/16
Belize -1.60 Jun/16
Nigeria -2.06 Jun/16
Kyrgyzstan -2.30 Jun/16
Syria -2.30 Dec/11
Ecuador -3.00 Mar/16
Argentina -3.40 Jun/16
Azerbaijan -3.40 Jun/16
Brazil -3.80 Jun/16
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Venezuela -7.10 Sep/15
Equatorial Guinea -10.60 Dec/15
Oman -14.10 Dec/15
Sierra Leone -21.50 Dec/15
Yemen -28.10 Dec/15