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.

The Gross Domestic Product (GDP) in Singapore was worth 501.43 billion US dollars in 2023, according to official data from the World Bank. The GDP value of Singapore represents 0.48 percent of the world economy. This dataset provides the latest reported value for - Singapore GDP - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

In 2023, the wholesale trade sector contributed 22.3 percent to Singapore's nominal gross value added (GVA). Singapore's economy posted growth across as sectors, indicating a recovery from the impact of the COVID-19 pandemic.

GDP from Manufacturing in Singapore decreased to 28628.30 SGD Million in the first quarter of 2025 from 30406.90 SGD Million in the fourth quarter of 2024. This dataset provides - Singapore Gdp From Manufacturing- actual values, historical data, forecast, chart, statistics, economic calendar and news.

This statistic shows the distribution of the gross domestic product (GDP) across economic sectors in Singapore from 2013 to 2023. In 2023, agriculture contributed around 0.03 percent to the GDP of Singapore, 22.4 percent came from the industry and 72.45 percent from the services sector.

The Gross Domestic Product (GDP) in Singapore contracted 0.60 percent in the first quarter of 2025 over the previous quarter. This dataset provides - Singapore GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Key information about Singapore Real GDP Growth

• The Gross Domestic Product (GDP) in Singapore expanded 0.4 % YoY in Mar 2023, following a growth of 2.1 % in the previous quarter.
• Real GDP Growth YoY data in Singapore is updated quarterly, available from Mar 1976 to Mar 2023, with an average rate of 6.6 %.
• The data reached an all-time high of 18.6 % in Jun 2010 and a record low of -11.9 % in Jun 2020.

• In the latest reports, Nominal GDP of Singapore reached 120.6 USD bn in Mar 2023.
• Its GDP deflator (implicit price deflator) fell 0.0 % in Mar 2023.
• GDP Per Capita in Singapore reached 82,794.0 USD in Dec 2022.
• Its Gross Savings Rate was measured at 49.2 % in Dec 2022.
• For Nominal GDP contributions, Investment accounted for 21.9 % in Dec 2022.
• Public Consumption accounted for 10.0 % in Dec 2022.
• Private Consumption accounted for 29.8 % in Dec 2022.

Singapore SG: GDP: % of Manufacturing: Chemicals data was reported at 23.229 % in 2014. This records a decrease from the previous number of 23.786 % for 2013. Singapore SG: GDP: % of Manufacturing: Chemicals data is updated yearly, averaging 9.188 % from Dec 1963 (Median) to 2014, with 52 observations. The data reached an all-time high of 31.646 % in 2007 and a record low of 3.482 % in 1963. Singapore SG: GDP: % of Manufacturing: Chemicals 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.WDI: Gross Domestic Product: Share of GDP. Value added in manufacturing is the sum of gross output less the value of intermediate inputs used in production for industries classified in ISIC major division D. Chemicals correspond to ISIC division 24.; ; United Nations Industrial Development Organization, International Yearbook of Industrial Statistics.; ;

This statistic shows the gross domestic product (GDP) in current prices in Singapore which amounts to approximately 564.77 billion U.S. dollars in 2025.Fluctuating rise between 1980 and 2025A comparison to the earliest shown observation from 1980 reveals a total increase by approximately 552.69 billion U.S. dollars. The trajectory from 1980 to 2025 shows however that this increase did not happen continuously.Continuous rise between 2025 and 2030In 2030 the GDP will be about 698.07 billion U.S. dollars, according to forecasts. From 2025 onwards, there is an overall increase by approximately 133.30 billion U.S. dollars. This growth reflects a steady upward trend.This indicator describes the gross domestic product at current prices. The values are based upon the GDP in national currency converted to U.S. dollars using market exchange rates (yearly average). The GDP represents the total value of final goods and services produced during a year.

Singapore GDP Deflator: Services Producing Industries (SPI) data was reported at 107.000 2010=100 in Sep 2018. This records an increase from the previous number of 105.100 2010=100 for Jun 2018. Singapore GDP Deflator: Services Producing Industries (SPI) data is updated quarterly, averaging 81.400 2010=100 from Mar 1975 (Median) to Sep 2018, with 175 observations. The data reached an all-time high of 107.800 2010=100 in Dec 2017 and a record low of 48.800 2010=100 in Jun 1975. Singapore GDP Deflator: Services Producing Industries (SPI) 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.

GDP from Transport in Singapore increased to 9206.10 SGD Million in the first quarter of 2025 from 8956.30 SGD Million in the fourth quarter of 2024. This dataset provides - Singapore Gdp From Transport- actual values, historical data, forecast, chart, statistics, economic calendar and news.

In 2023, the GDP of the Singaporean manufacturing industry amounted to approximately 118.83 billion Singapore dollars. Singapore's manufacturing industry is the largest of its goods producing industries; however, the services producing industry was almost 3.5 times larger than the goods producing industries in that year.

Singapore SG: GDP: % of Manufacturing: Other Manufacturing data was reported at 17.595 % in 2014. This records an increase from the previous number of 15.618 % for 2013. Singapore SG: GDP: % of Manufacturing: Other Manufacturing data is updated yearly, averaging 55.023 % from Dec 1963 (Median) to 2014, with 52 observations. The data reached an all-time high of 66.139 % in 1987 and a record low of 15.618 % in 2013. Singapore SG: GDP: % of Manufacturing: Other Manufacturing 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.WDI: Gross Domestic Product: Share of GDP. Value added in manufacturing is the sum of gross output less the value of intermediate inputs used in production for industries classified in ISIC major division D. Other manufacturing, a residual, covers wood and related products (ISIC division 20), paper and related products (ISIC divisions 21 and 22), petroleum and related products (ISIC division 23), basic metals and mineral products (ISIC division27), fabricated metal products and professional goods (ISIC division 28), and other industries (ISIC divisions 25, 26, 31, 33, 36, and 37). Includes unallocated data. When data for textiles, machinery, or chemicals are shown as not available, they are included in other manufacturing.; ; United Nations Industrial Development Organization, International Yearbook of Industrial Statistics.; ;

Industry (including construction), value added (% of GDP) in Singapore was reported at 22.4 % in 2023, according to the World Bank collection of development indicators, compiled from officially recognized sources. Singapore - Industry, value added (% of GDP) - actual values, historical data, forecasts and projections were sourced from the World Bank on June of 2025.

Singapore SG: GDP: % of Manufacturing: Medium and High Tech Industry data was reported at 80.379 % in 2015. This records a decrease from the previous number of 84.582 % for 2014. Singapore SG: GDP: % of Manufacturing: Medium and High Tech Industry data is updated yearly, averaging 80.435 % from Dec 1990 (Median) to 2015, with 26 observations. The data reached an all-time high of 88.037 % in 2008 and a record low of 64.759 % in 1990. Singapore SG: GDP: % of Manufacturing: Medium and High Tech Industry 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.WDI: Gross Domestic Product: Share of GDP. The proportion of medium and high-tech industry value added in total value added of manufacturing; ; United Nations Industrial Development Organization (UNIDO), Competitive Industrial Performance (CIP) database; ;

Singapore posted a gross domestic product (GDP) growth rate of 1.35 percent in 2019, after adjusting for inflation. While up from the previous two years, this number is expected to decline in 2023, settling around 2.5 percent in the future.

What is GDP?

GDP is a measure of a country’s income, and most economists agree that slow but steady GDP growth is best for a developed economy. GDP measures the total value of all goods and services produced within a country during a certain time period. With the highest GDP per capita in ASEAN, Singapore certainly qualifies as developed, meaning that it should target GDP growth around 2 to 3 percent.

Singapore’s context

Singapore is a small, open economy. As such, it has little influence on, and high exposure to, international trends. For example, a shift in the exchange rate with a major trading partner can have significant effects on the economy. For Singapore, who relies heavily on exports, these kinds of shocks can affect the entire economy. For example, a weaker Singapore dollar would increase GDP by raising net exports, but this would also lead to higher inflation. As a result, policymakers in Singapore have to follow many factors if they want to continue enjoying healthy GDP growth.

GDP (current US$) in Singapore was reported at 501427500080 USD in 2023, according to the World Bank collection of development indicators, compiled from officially recognized sources. Singapore - GDP - actual values, historical data, forecasts and projections were sourced from the World Bank on June of 2025.

GDP from Construction in Singapore decreased to 5022 SGD Million in the first quarter of 2025 from 5093.20 SGD Million in the fourth quarter of 2024. This dataset provides - Singapore Gdp From Construction- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Government expenditure on education, total (% of GDP) in Singapore was reported at 2.1879 % in 2023, according to the World Bank collection of development indicators, compiled from officially recognized sources. Singapore - Public spending on education, total (% of GDP) - actual values, historical data, forecasts and projections were sourced from the World Bank on May of 2025.

Forecast: Contribution to GDP of Manufacturing in Singapore 2024 - 2028 Discover more data with ReportLinker!