In contrast, manufacturing output fell further (-2.3% vs -0.7%). 1960-2019 Data | 2020-2022 Forecast | Historical | Chart | News. The GDP value of Singapore represents 0.31 percent of the world economy. Online tool for visualization and analysis. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds. Singapore’s gross domestic product shrank 4.7 percent quarter-on-quarter in the three months to March of 2020, the most since the third quarter of 2010, after expanding 0.6 percent in the previous period and compared with a preliminary estimate of a 10.6 percent decline. The gross domestic product (GDP) is equal to the total expenditures for all final goods and services produced within the country in a stipulated period of time. World Bank national accounts data, and OECD National Accounts data files. For 2020, the government lowered economic growth forecast to -0.5 to 1.5%, opening up the possibility of a recession this year, on the back of the ongoing coronavirus outbreak. Since then, Singapore’s external demand outlook has weakened slightly. Selected Countries and Economies. GDP growth (annual %) - Singapore from The World Bank: Data. The country is a leading foreign direct investment recipient due to its status of one of the freest, most competitive and most business-friendly economies in the world. Singapore is also an important financial center. Singapore Q3 Jobless Rate Highest Since 2004, Singapore Bank Lending Smallest in 17 Months, Singapore Producer Prices Drop the Most in 4 Months, Singapore Manufacturing Growth Accelerates Sharply, Singapore Consumer Prices Unexpectedly Flat, Singapore Q3 Private Home Prices Rise at Faster Pace, Singapore Exports Rise Less than Expected, Singapore Keeps Monetary Policy Unchanged, Singapore Q3 GDP Contracts Slightly More than Expected, European Stocks Post Worst Week Since March, French Shares Book Worst Month since March, Dow and S&P on Track for 2nd Month of Losses, Colombia Jobless Rate Jumps to 15.8% in September, Colombia Exports Continue to Drop in September, Canada Government Budget Deficit Widens Sharply in August. Download historical data for 20 million indicators using your browser. Thematic data tables from WDI. International Comparison Program & Purchasing Power Parity, International Household Survey Network (IHSN), Trust Fund for Statistical Capacity Building. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds. For the whole of 2019, the Singapore economy expanded by 0.7%, slower than the 3.4% growth recorded in 2018. This statistic displays the gross domestic product (GDP) growth rates in Singapore in 2019, by industry. This page provides - Singapore GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Learn how the World Bank Group is helping countries with COVID-19 (coronavirus). The gross domestic product (GDP) measures of national income and output for a given country's economy. Since gaining independence in 1963, Singaporean economy has been growing rapidly and as a result the country has now one of the highest GDP per capita in the world. Direct access to our calendar releases and historical data. The Trading Economics Application Programming Interface (API) provides direct access to our data. … Direct access to our calendar releases and historical data. This site uses cookies to optimize functionality and give you the best possible experience. Find Out, Online tool for visualization and analysis. Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices. The Singaporean economy advanced 1% yoy in Q4 2019, compared to the advance estimate of a 0.8% growth and after a 0.7% expansion in Q3. Country. Download historical data for 20 million indicators using your browser. The economy depends heavily on foreign trade; both from port activities and from exports of electronic components and refined oil. The Gross Domestic Product (GDP) in Singapore was worth 372.06 billion US dollars in 2019, according to official data from the World Bank and projections from Trading Economics. The Singapore economy grew by 1% in the fourth quarter of last year and 0.7% for the whole of 2019, the ministry said. Singapore Q3 Jobless Rate Highest Since 2004, Singapore Bank Lending Smallest in 17 Months, Singapore Producer Prices Drop the Most in 4 Months, Singapore Manufacturing Growth Accelerates Sharply, Singapore Consumer Prices Unexpectedly Flat, Singapore Q3 Private Home Prices Rise at Faster Pace, Singapore Exports Rise Less than Expected, Singapore Keeps Monetary Policy Unchanged, Singapore Q3 GDP Contracts Slightly More than Expected, Kenya October Inflation Rate at 5-Month High of 4.84%, European Stocks Post Worst Week Since March, French Shares Book Worst Month since March, Dow and S&P on Track for 2nd Month of Losses, Colombia Jobless Rate Jumps to 15.8% in September, Colombia Exports Continue to Drop in September, Canada Government Budget Deficit Widens Sharply in August. 1975-2020 Data | 2021-2022 Forecast | Calendar. Publish your articles and forecasts in our website. CSV XML EXCEL. WDI Tables. Singapore GDP (Gross Domestic Product) was INT$494.04billion for 2019 in PPP terms. DataBank. In May, MTI downgraded Singapore’s GDP growth forecast for 2020 to “-7.0 to -4.0 per cent” due to the expected economic impact of the CB measures, and the sharp deterioration in the growth outlook of major economies that were grappling with the COVID-19 pandemic. This was the highest growth rate since Q1 2019, led by construction sector (4.3% vs 3.1 in Q3), transportation & storage (0.8% vs flat reading), accommodation & food services (2.5% vs 1.9%), information & communications (4.5% vs 4.4%), finance & insurance (4% vs 4.1%) business services (1.7% vs 1.1%) and other services (3.3% vs 2.4%). Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices. To learn more about cookies, click here. ... 1961 - 2019 GDP (constant 2010 ... GDP per capita growth (annual %) Download. Publish your articles and forecasts in our website. Singapore's economy is now expected to contract by between 4 percent and 7 percent, according to the Ministry of Trade and Industry. The Trading Economics Application Programming Interface (API) provides direct access to our data. On an annualised quarterly basis, the economy grew 0.6%, after a downwardly revised 2.2% growth. GDP Growth Rate in Singapore averaged 1.51 percent from 1975 until 2020, reaching an all time high of 7.90 percent in the third quarter of 2020 and a record low of -13.20 percent in the second quarter of 2020. If you continue to navigate this website beyond this page, cookies will be placed on your browser. Singapore cut its 2020 gross domestic product forecast for the third time on Tuesday, after its economy contracted in the first quarter of 2020.
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