1 dataset found
  1. Gross domestic product (GDP) growth rate in Singapore 2030*

    • statista.com
    Updated May 20, 2025
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    Statista (2025). Gross domestic product (GDP) growth rate in Singapore 2030* [Dataset]. https://www.statista.com/statistics/378630/gross-domestic-product-gdp-growth-rate-in-singapore/
    Explore at:
    Dataset updated
    May 20, 2025
    Dataset authored and provided by
    Statistahttp://statista.com/
    Area covered
    Singapore
    Description

    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.

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Share
FacebookFacebook
TwitterTwitter
Email
Click to copy link
Link copied
Close
Cite
Statista (2025). Gross domestic product (GDP) growth rate in Singapore 2030* [Dataset]. https://www.statista.com/statistics/378630/gross-domestic-product-gdp-growth-rate-in-singapore/
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Gross domestic product (GDP) growth rate in Singapore 2030*

Explore at:
Dataset updated
May 20, 2025
Dataset authored and provided by
Statistahttp://statista.com/
Area covered
Singapore
Description

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.

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