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.

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.

The Gross Domestic Product (GDP) in Singapore was worth 547.39 billion US dollars in 2024, according to official data from the World Bank. The GDP value of Singapore represents 0.52 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.

GDP from Services in Singapore increased to 21175.70 SGD Million in the first quarter of 2025 from 21149.90 SGD Million in the fourth quarter of 2024. This dataset provides - Singapore Gdp From Services- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Exports of goods and services (% of GDP) in Singapore was reported at 179 % in 2024, according to the World Bank collection of development indicators, compiled from officially recognized sources. Singapore - Exports of goods and services (% of GDP) - actual values, historical data, forecasts and projections were sourced from the World Bank on July of 2025.

In 2024, the gross domestic product (GDP) of food and beverage services in Singapore amounted to approximately **** billion Singapore dollars, indicating an increase from the previous year. The food and beverages service sector has improved since the outbreak of the COVID-19 pandemic, and has reached around pre-pandemic levels. Food and beverages services in Singapore The COVID-19 pandemic impacted the food and beverage services sector, which saw a decline in sales due to coronavirus pandemic restrictions. Although the retail sales index value of food and alcohol had significantly plummeted during the financial year 2020 and 2021, by 2022, the food and beverage industry sales had increased from pandemic lows. In 2022, all food and beverage services saw a significant year-on-year change in the sales index nationwide. Sales for food caterers increased by *** percent compared to the previous year. Restaurants also experienced more than ** percent sales in June 2022. Dining out as a Singaporean past time As Singaporeans frequently dine out, food and beverage services had been integral to Singapore’s economy and lifestyle. A survey of December 2022 revealed that ** percent of Singaporeans preferred to dine out several times a week. Out of all mealtimes eaten out-of-home, ** percent of Singaporeans chose to dine out for dinner.

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.

In 2023, the external trade in goods and services as a share of gross domestic product in Singapore stood at ****** percent. Between 1960 and 2023, the figure dropped by ***** percentage points, though the decline followed an uneven course rather than a steady trajectory.

GDP from Mining in Singapore increased to 93314.60 SGD Million in the first quarter of 2025 from 92877.40 SGD Million in the fourth quarter of 2024. This dataset provides - Singapore Gdp From Mining- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Imports of goods and services (% of GDP) in Singapore was reported at 144 % in 2024, according to the World Bank collection of development indicators, compiled from officially recognized sources. Singapore - Imports of goods and services (% of GDP) - actual values, historical data, forecasts and projections were sourced from the World Bank on August of 2025.

Singapore GDP: Net Exports of Goods and Services data was reported at 63,745.400 SGD mn in Dec 2024. This records a decrease from the previous number of 65,566.800 SGD mn for Sep 2024. Singapore GDP: Net Exports of Goods and Services data is updated quarterly, averaging 6,488.650 SGD mn from Mar 1975 (Median) to Dec 2024, with 200 observations. The data reached an all-time high of 78,120.300 SGD mn in Jun 2022 and a record low of -931.700 SGD mn in Mar 1982. Singapore GDP: Net Exports of Goods and Services data remains active status in CEIC and is reported by Singapore Department of Statistics. The data is categorized under Global Database’s Singapore – Table SG.A007: GDP by Expenditure: Current Price .

Singapore: Exports of goods and services as percent of GDP: The latest value from 2024 is 178.78 percent, a decline from 181.56 percent in 2023. In comparison, the world average is 44.58 percent, based on data from 134 countries. Historically, the average for Singapore from 1960 to 2024 is 169.4 percent. The minimum value, 106.74 percent, was reached in 1972 while the maximum of 228.99 percent was recorded in 2008.

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.

The gross domestic product (GDP) in current prices in Singapore stood at about 547.39 billion U.S. dollars in 2024. Between 1980 and 2024, the GDP rose by approximately 535.31 billion U.S. dollars, though the increase followed an uneven trajectory rather than a consistent upward trend. The GDP will steadily rise by around 150.68 billion U.S. dollars over the period from 2024 to 2030, reflecting a clear 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.

In 2024, the ratio of government expenditure to GDP in Singapore amounted to about 14.51 percent. Between 1990 and 2024, the figure dropped by approximately 0.55 percentage points, though the decline followed an uneven course rather than a steady trajectory. From 2024 to 2030, the ratio will rise by around 3.04 percentage points, showing an overall upward trend with periodic ups and downs.Shown here is the general government expenditure as a share of the national gross domestic product. As defined by the International Monetary Fund, the general government expenditure consists of total expense and the net acquisition of nonfinancial assets. The gross domestic product represents the total value of final goods and services produced during a year.

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

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, Singapore’s construction sector contributed around ***** billion Singapore dollars to the country’s gross domestic product (GDP). This was a noticeable increase after the construction sector had been especially affected by the COVID-19 pandemic. Robust private and public sector demand in 2019 The construction sector in Singapore experienced three consecutive years of negative growth until 2019. This increase was fueled in part by the unexpected higher demand from the private sector, especially by the construction of new petrochemical facilities by global giants Linde and ExxonMobil. Public construction demand, meanwhile, has been growing steadily since 2015, supported by major civil engineering projects such as the expansion of the MRT lines and housing development. In that year, the value of contracts awarded for both private and public sector construction amounted to around ** billion Singapore dollars. Impact of COVID-19 on the construction sector However, the COVID-19 pandemic has already negatively impacted the construction industry. Singapore experienced its worst recession since independence, and in Q1 2020, the construction sector contracted by **** percent. Social distancing measures and the stopping of non-essential work meant that many construction projects were put on hold. Furthermore, Singapore’s construction sector is facing a two-fold labor crisis. This industry is heavily reliant on migrant workers from foreign countries. The global restrictions in travel meant that hardly any new labor was available. Adding to this challenge, the migrant workers in Singapore had been badly hit by COVID-19, making up the largest share of COVID-19 infections in the country.

In 2020, the share of services sector in the GDP in the ASEAN region was the highest in Singapore, amounting to around **** percent. Additionally, in 2020, the Philippines accounted for approximately **** percent share of services sector in the GDP in the ASEAN region.

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.