In 2023, the gross domestic product (GDP) of the finance and insurance industry in Singapore amounted to approximately ***** billion Singapore dollars. In that year, the GDP from services producing industries amounted to around ****** billion Singapore dollars.

Singapore (DC)GDP: 1995p: SPI: Financial Services data was reported at 4,994.300 SGD mn in Sep 2005. This records a decrease from the previous number of 5,107.000 SGD mn for Jun 2005. Singapore (DC)GDP: 1995p: SPI: Financial Services data is updated quarterly, averaging 1,930.400 SGD mn from Mar 1975 (Median) to Sep 2005, with 123 observations. The data reached an all-time high of 5,107.000 SGD mn in Jun 2005 and a record low of 313.500 SGD mn in Jun 1975. Singapore (DC)GDP: 1995p: SPI: Financial Services data remains active status in CEIC and is reported by Ministry of Trade and Industry. The data is categorized under Global Database’s Singapore – Table SG.A048: GDP by Industry: SSIC 2000: 1995 Price.

In the second quarter of 2023, Singapore's gross domestic product (GDP) stood at around *** billion Singapore dollars. Singapore is one of Asia-Pacific's most advanced free-market economies and its main economic sectors include manufacturing, wholesale trade, and banking and financial services.

In 2023, the finance and insurance sector in Singapore posted the largest growth rate out of all economic sectors in the country, at 5.4 percent. Overall, Singapore's GDP grew by 2.2 percent in that year.

In financial year 2025, the health expenditure as a share of the gross domestic product (GDP) in Singapore was estimated to reach 2.7 percent. Healthcare spending as share of the GDP had increased in Singapore since 2016 due to a myriad of factors, including improving infrastructure and increasing spending to meet the healthcare demands of an aging population.

Key information about Singapore Foreign Direct Investment: % of GDP

• Singapore Foreign Direct Investment (FDI) registered a growth equal to 24.4 % of the country's Nominal GDP in Sep 2025, compared with a growth equal to 31.2 % in the previous quarter.
• Singapore Foreign Direct Investment: % of Nominal GDP data is updated quarterly, available from Mar 1995 to Sep 2025.
• The data reached an all-time high of 43.3 % in Mar 1999 and a record low -11.1 % in Jun 2003.

CEIC calculates Foreign Direct Investment as % of Nominal GDP from quarterly Foreign Direct Investment and quarterly Nominal GDP. The Singapore Department of Statistics provides Foreign Direct Investment in local currency and Nominal GDP in local currency.


Related information about Singapore Foreign Direct Investment: % of GDP

• In the latest reports of Singapore, Current Account recorded a surplus of 26.0 USD bn in Sep 2025.
• Foreign Direct Investment (FDI) increased by 35.8 USD bn in Sep 2025.
• Singapore Direct Investment Abroad expanded by 17.8 USD bn in Sep 2025.
• Its Foreign Portfolio Investment increased by 3.9 USD bn in Sep 2025.
• The country's Nominal GDP was reported at 147.8 USD bn in Sep 2025.

The average for 2023 based on 9 countries was 27.54 percent. The highest value was in India: 33.36 percent and the lowest value was in Singapore: 21.24 percent. The indicator is available from 1960 to 2024. Below is a chart for all countries where data are available.

In 2024, the gross domestic product (GDP) of Hong Kong amounted to around 407 billion U.S. dollars at current prices, equivalent to around 3.18 trillion Hong Kong dollars. The city’s GDP grew by 2.5 percent that year. Hong Kong’s GDP in comparison The GDP measures the total value of all goods and services produced in an economy over a certain period. Together with unemployment and inflation, it is one of the most observed economic indicators. While GDP figures in the local currency are sometimes more useful for analyzing internal economic developments, values in international currencies are important for regional comparison.Among economies in Asia-Pacific, Hong Kong’s nominal GDP is comparatively small. However, as an advanced economy and a global financial hub, the city’s per capita GDP is one of the highest in the region, only second to Singapore and Australia. Hong Kong’s economic development As an important international hub for finance and trade, Hong Kong’s economy is dominated by the service sector. Financial services contributed more than 20 percent to the city’s GDP and displayed one of the highest sectoral growth rates over the last decade. Hong Kong’s economic growth suffered severely during the COVID-19 pandemic but returned to sustained growth in 2023.

Dataset from Singapore Department of Statistics. For more information, visit https://data.gov.sg/datasets/d_c718a41412670c78793b8b7864a957c0/view

Net acquisition of financial assets (% of GDP) in Singapore was reported at 14.84 % in 2023, according to the World Bank collection of development indicators, compiled from officially recognized sources. Singapore - Net acquisition of financial assets (% of GDP) - actual values, historical data, forecasts and projections were sourced from the World Bank on November of 2025.

Domestic credit provided by financial sector (% of GDP) in Singapore was reported at 137 % in 2018, according to the World Bank collection of development indicators, compiled from officially recognized sources. Singapore - Domestic credit provided by banking sector (% of GDP) - actual values, historical data, forecasts and projections were sourced from the World Bank on November of 2025.

The foreign direct investment (FDI) as a share of gross domestic product (GDP) in Singapore amounted to 34.95 percent in 2023. Between 1970 and 2023, the share rose by 30.11 percentage points, though the increase followed an uneven trajectory rather than a consistent upward trend.

Abstract

The Global Findex 2025 reveals how mobile technology is equipping more adults around the world to own and use financial accounts to save formally, access credit, make and receive digital payments, and pursue opportunities. Including the inaugural Global Findex Digital Connectivity Tracker, this fifth edition of Global Findex presents new insights on the interactions among mobile phone ownership, internet use, and financial inclusion.

The Global Findex is the world’s most comprehensive database on digital and financial inclusion. It is also the only global source of comparable demand-side data, allowing cross-country analysis of how adults access and use mobile phones, the internet, and financial accounts to reach digital information and resources, save, borrow, make payments, and manage their financial health. Data for the Global Findex 2025 were collected from nationally representative surveys of about 145,000 adults in 141 economies. The latest edition follows the 2011, 2014, 2017, and 2021 editions and includes new series measuring mobile phone ownership and internet use, digital safety, and frequency of transactions using financial services.

The Global Findex 2025 is an indispensable resource for policy makers in the fields of digital connectivity and financial inclusion, as well as for practitioners, researchers, and development professionals.

Geographic coverage

National Coverage

Analysis unit

Individual

Kind of data

Observation data/ratings [obs]

Sampling procedure

In most low- and middle-income economies, Global Findex data were collected through face-to-face interviews. In these economies, an area frame design was used for interviewing. In most high-income economies, telephone surveys were used. In 2024, face-to-face interviews were again conducted in 22 economies after phone-based surveys had been employed in 2021 as a result of mobility restrictions related to COVID-19. In addition, an abridged form of the questionnaire was administered by phone to survey participants in Algeria, China, the Islamic Republic of Iran, Libya, Mauritius, and Ukraine because of economy-specific restrictions. In just one economy, Singapore, did the interviewing mode change from face to face in 2021 to phone based in 2024.

In economies in which face-to-face surveys were conducted, the first stage of sampling was the identification of primary sampling units. These units were then stratified by population size, geography, or both and clustered through one or more stages of sampling. Where population information was available, sample selection was based on probabilities proportional to population size; otherwise, simple random sampling was used. Random route procedures were used to select sampled households. Unless an outright refusal occurred, interviewers made up to three attempts to survey each sampled household. To increase the probability of contact and completion, attempts were made at different times of the day and, where possible, on different days. If an interview could not be completed at a household that was initially part of the sample, a simple substitution method was used to select a replacement household for inclusion.

Respondents were randomly selected within sampled households. Each eligible household member (that is, all those ages 15 or older) was listed, and a handheld survey device randomly selected the household member to be interviewed. For paper surveys, the Kish grid method was used to select the respondent. In economies in which cultural restrictions dictated gender matching, respondents were randomly selected from among all eligible adults of the interviewer’s gender.

In economies in which Global Findex surveys have traditionally been phone based, respondent selection followed the same procedure as in previous years, using random digit dialing or a nationally representative list of phone numbers. In most economies in which mobile phone and landline penetration is high, a dual sampling frame was used.

The same procedure for respondent selection was applied to economies in which phone-based interviews were being conducted for the first time. Dual-frame (landline and mobile phone) random digit dialing was used where landline presence and use are 20 percent or higher based on historical Gallup estimates. Mobile phone random digit dialing was used in economies with limited or no landline presence (less than 20 percent). For landline respondents in economies in which mobile phone or landline penetration is 80 percent or higher, respondents were selected randomly by using either the next-birthday method or the household enumeration method, which involves listing all eligible household members and randomly selecting one to participate. For mobile phone respondents in these economies or in economies in which mobile phone or landline penetration is less than 80 percent, no further selection was performed. At least three attempts were made to reach the randomly selected person in each household, spread over different days and times of day.

Research instrument

The English version of the questionnaire is provided for download.

Sampling error estimates

Estimates of standard errors (which account for sampling error) vary by country and indicator. For country-specific margins of error, please refer to the Methodology section and corresponding table in: Klapper, Leora, Dorothe Singer, Laura Starita, and Alexandra Norris. 2025. The Global Findex Database 2025: Connectivity and Financial Inclusion in the Digital Economy. Washington, DC: World Bank. https://doi.org/10.1596/978-1-4648-2204-9.

Singapore GDP Deflator: SPI: Finance & Insurance data was reported at 104.500 2010=100 in Jun 2018. This records an increase from the previous number of 104.000 2010=100 for Mar 2018. Singapore GDP Deflator: SPI: Finance & Insurance data is updated quarterly, averaging 96.150 2010=100 from Mar 1975 (Median) to Jun 2018, with 174 observations. The data reached an all-time high of 121.300 2010=100 in Sep 1998 and a record low of 71.700 2010=100 in Sep 1976. Singapore GDP Deflator: SPI: Finance & Insurance data remains active status in CEIC and is reported by Department of Statistics. The data is categorized under Global Database’s Singapore – Table SG.A064: GDP Deflator.

Key information about Singapore Investment: % of GDP

• Singapore Investment accounted for 22.2 % of its Nominal GDP in Dec 2024, compared with a ratio of 21.2 % in the previous year.
• Singapore investment share of Nominal GDP data is updated yearly, available from Dec 1960 to Dec 2024, with an average ratio of 35.5 %.
• The data reached an all-time high of 46.9 % in Dec 1984 and a record low of 11.3 % in Dec 1960.

CEIC calculates Investment as % of Nominal GDP from annual Nominal Gross Capital Formation and annual Nominal GDP. Gross Capital Formation is calculated as the sum of Gross Fixed Capital Formation and Changes in Inventories. The Singapore Department of Statistics provides Nominal Gross Capital Formation in local currency and Nominal GDP in local currency.


Related information about Singapore Investment: % of GDP

• In the latest reports, Singapore GDP expanded 4.2 % YoY in Sep 2025.
• Singapore Nominal GDP reached 147.8 USD bn in Sep 2025.
• Its GDP deflator (implicit price deflator) fell 0.7 % in Sep 2025.
• Singapore GDP Per Capita reached 90,689.0 USD in Dec 2024.
• Its Gross Savings Rate was measured at 47.5 % in Dec 2024.

Dataset from Singapore Department of Statistics. For more information, visit https://data.gov.sg/datasets/d_3844a22c30957a2f57f2473080e8b922/view

Abstract

The Global Findex 2025 reveals how mobile technology is equipping more adults around the world to own and use financial accounts to save formally, access credit, make and receive digital payments, and pursue opportunities. Including the inaugural Global Findex Digital Connectivity Tracker, this fifth edition of Global Findex presents new insights on the interactions among mobile phone ownership, internet use, and financial inclusion.

The Global Findex is the world’s most comprehensive database on digital and financial inclusion. It is also the only global source of comparable demand-side data, allowing cross-country analysis of how adults access and use mobile phones, the internet, and financial accounts to reach digital information and resources, save, borrow, make payments, and manage their financial health. Data for the Global Findex 2025 were collected from nationally representative surveys of about 145,000 adults in 141 economies. The latest edition follows the 2011, 2014, 2017, and 2021 editions and includes new series measuring mobile phone ownership and internet use, digital safety, and frequency of transactions using financial services.

The Global Findex 2025 is an indispensable resource for policy makers in the fields of digital connectivity and financial inclusion, as well as for practitioners, researchers, and development professionals.

Geographic coverage

National Coverage

Analysis unit

Individual

Kind of data

Observation data/ratings [obs]

Sampling procedure

In most low- and middle-income economies, Global Findex data were collected through face-to-face interviews. In these economies, an area frame design was used for interviewing. In most high-income economies, telephone surveys were used. In 2024, face-to-face interviews were again conducted in 22 economies after phone-based surveys had been employed in 2021 as a result of mobility restrictions related to COVID-19. In addition, an abridged form of the questionnaire was administered by phone to survey participants in Algeria, China, the Islamic Republic of Iran, Libya, Mauritius, and Ukraine because of economy-specific restrictions. In just one economy, Singapore, did the interviewing mode change from face to face in 2021 to phone based in 2024.

In economies in which face-to-face surveys were conducted, the first stage of sampling was the identification of primary sampling units. These units were then stratified by population size, geography, or both and clustered through one or more stages of sampling. Where population information was available, sample selection was based on probabilities proportional to population size; otherwise, simple random sampling was used. Random route procedures were used to select sampled households. Unless an outright refusal occurred, interviewers made up to three attempts to survey each sampled household. To increase the probability of contact and completion, attempts were made at different times of the day and, where possible, on different days. If an interview could not be completed at a household that was initially part of the sample, a simple substitution method was used to select a replacement household for inclusion.

Respondents were randomly selected within sampled households. Each eligible household member (that is, all those ages 15 or older) was listed, and a handheld survey device randomly selected the household member to be interviewed. For paper surveys, the Kish grid method was used to select the respondent. In economies in which cultural restrictions dictated gender matching, respondents were randomly selected from among all eligible adults of the interviewer’s gender.

In economies in which Global Findex surveys have traditionally been phone based, respondent selection followed the same procedure as in previous years, using random digit dialing or a nationally representative list of phone numbers. In most economies in which mobile phone and landline penetration is high, a dual sampling frame was used.

The same procedure for respondent selection was applied to economies in which phone-based interviews were being conducted for the first time. Dual-frame (landline and mobile phone) random digit dialing was used where landline presence and use are 20 percent or higher based on historical Gallup estimates. Mobile phone random digit dialing was used in economies with limited or no landline presence (less than 20 percent). For landline respondents in economies in which mobile phone or landline penetration is 80 percent or higher, respondents were selected randomly by using either the next-birthday method or the household enumeration method, which involves listing all eligible household members and randomly selecting one to participate. For mobile phone respondents in these economies or in economies in which mobile phone or landline penetration is less than 80 percent, no further selection was performed. At least three attempts were made to reach the randomly selected person in each household, spread over different days and times of day.

Research instrument

The English version of the questionnaire is provided for download.

Sampling error estimates

Estimates of standard errors (which account for sampling error) vary by country and indicator. For country-specific margins of error, please refer to the Methodology section and corresponding table in: Klapper, Leora, Dorothe Singer, Laura Starita, and Alexandra Norris. 2025. The Global Findex Database 2025: Connectivity and Financial Inclusion in the Digital Economy. Washington, DC: World Bank. https://doi.org/10.1596/978-1-4648-2204-9.

Dataset from Singapore Department of Statistics. For more information, visit https://data.gov.sg/datasets/d_4ff2c13303e4a79c28c60b086cece0a8/view

Dataset from Singapore Department of Statistics. For more information, visit https://data.gov.sg/datasets/d_69afec14756eae81499f9864abb33da7/view

Singapore SG: Net Investment in Nonfinancial Assets: % of GDP data was reported at -1.045 % in 2017. This records an increase from the previous number of -2.154 % for 2016. Singapore SG: Net Investment in Nonfinancial Assets: % of GDP data is updated yearly, averaging -0.067 % from Mar 1973 (Median) to 2017, with 45 observations. The data reached an all-time high of 5.726 % in 1985 and a record low of -7.037 % in 1998. Singapore SG: Net Investment in Nonfinancial Assets: % of GDP data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Singapore – Table SG.World Bank: Government Revenue, Expenditure and Finance. Net investment in government nonfinancial assets includes fixed assets, inventories, valuables, and nonproduced assets. Nonfinancial assets are stores of value and provide benefits either through their use in the production of goods and services or in the form of property income and holding gains. Net investment in nonfinancial assets also includes consumption of fixed capital.; ; International Monetary Fund, Government Finance Statistics Yearbook and data files.; Weighted Average;