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

The Singaporean economy advanced 1.1 percent year-on-year in the third quarter of 2016, lower than a 2 percent expansion in the previous period but above preliminary estimates of a 0.6 percent growth. Figures came better than market expectations of a 1 percent expansion as the manufacturing sector increased and services were flat while construction increased less than anticipated. GDP Annual Growth Rate in Singapore averaged 6.72 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.

Singapore GDP Annual Growth Rate
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Calendar GMT Reference Actual Previous Consensus Forecast (i)
2016-08-11 12:00 AM Q2 2.1% 2.1% 2.2% 2.2%
2016-10-14 12:00 AM Q3 0.6% 2.0% 1.7% 1.6%
2016-11-24 12:00 AM Q3 1.1% 2.0% 1% 0.7%
2017-01-04 12:00 AM Q4
2017-02-24 12:00 AM Q4
2017-04-14 12:00 AM Q1




Singapore Annual GDP Growth Revised Up to 1.1% in Q3


The Singaporean economy advanced 1.1 percent year-on-year in the third quarter of 2016, lower than a 2 percent expansion in the previous period but above preliminary estimates of a 0.6 percent growth. Figures came better than market expectations of a 1 percent expansion as the manufacturing sector increased and services were flat while construction increased less than anticipated.

Year-on-year, the manufacturing sector expanded by 1.3 percent, better than a 1.1 percent contraction in the preliminary estimates but slightly below 1.4 percent in the previous period. Higher external demand for semiconductors boosted the electronics and precision engineering sector. The services sector was flat, compared to a 0.1 percent decline in the preliminary estimates and following a 1.2 percent rise in the previous period. The construction sector rose at a slower 1.6 percent (2.5 percent in the preliminary estimates) and below 2 percent in the previous quarter.
 
On a quarter-on-quarter seasonally-adjusted annualized basis, the economy contracted at a slower 2 percent (-4.1 percent in the preliminary esimates), following a downwardly revised 0.1 percent expansion in the June quarter. Markets were expecting a 2.5 percent contraction.
 
For the rest of the year, the GDP is expected to remain modest. Government forecasts for this year were lowered to 1-1.5 percent from 1-2 percent. For 2017, the economy is expected to expand between 1 and 3 percent. 

Statistics Singapore l Joana Taborda | joana.taborda@tradingeconomics.com
11/24/2016 12:29:25 AM



Singapore GDP Last Previous Highest Lowest Unit
GDP Growth Rate -2.00 0.10 37.20 -13.50 percent [+]
GDP Annual Growth Rate 1.10 2.00 18.90 -8.80 percent [+]
GDP 292.74 306.34 306.34 0.70 USD Billion [+]
GDP Constant Prices 98684.20 99245.30 99245.30 7052.30 SGD Million [+]
Gross National Product 378329.70 366618.40 378329.70 2195.90 SGD Million [+]
Gross Fixed Capital Formation 23538.70 25123.20 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 4743.80 4815.00 4815.00 508.90 SGD Million [+]
GDP From Manufacturing 17391.00 17755.10 18606.30 1303.30 SGD Million [+]
GDP From Mining 66481.00 66784.30 67723.20 4133.60 SGD Million [+]
GDP From Services 18509.50 18861.50 18990.40 1333.10 SGD Million [+]
GDP From Transport 7535.40 7649.60 7649.60 543.10 SGD Million [+]
GDP From Utilities 1341.90 1361.80 1361.80 130.20 SGD Million [+]



Singapore GDP Annual Growth Rate Notes

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 December of 2016.

Actual Previous Highest Lowest Dates Unit Frequency
1.10 2.00 18.90 -8.80 1976 - 2016 percent Quarterly



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