The Singapore Data Center Market is segmented by Hotspot (East Singapore, West Singapore), by Data Center Size (Large, Massive, Medium, Mega, Small), by Tier Type (Tier 1 and 2, Tier 3, Tier 4) and by Absorption (Non-Utilized, Utilized). Market Volume in Megawatt (MW) is presented. Key Data Points observed include IT load capacity for existing and upcoming data centers, current and upcoming hotspots, average mobile data consumption, volume of fiber cable connectivity in KM, existing and upcoming submarine cables, rack space utilization, and number of data centers by tier.

In 2019, the average inflation rate in Singapore amounted to about 0.57 percent compared to the previous year, and it seemed to recover from sliding into the red throughout 2015 and 2016. For 2028, Singapore’s inflation is expected to level off at around 1.99 percent.

Singapore’s economy in short

Singapore is a prospering, highly developed economy, relying heavily on its role as an intermediary port for transport and storage of goods and merchandise. The lion’s share of its GDP is generated by the services sector, mainly by financial services, oil-refining, and manufacturing. Tourism is also an important contributor. It is one of the leading economies in Asia with one of the highest GDPs in the ASEAN region.

The great slump of 2015 to 2016

As dramatic as it looks, there was no definite reason for Singapore’s inflation rate to drop below zero in 2015 and 2016. A slump in economic growth and oil prices, as well as a low consumer price index were most likely responsible for inflation taking a hit in those years. Singapore has since recovered and continues its success story as one of the leading economies in the East.

Gold Reserves in Singapore decreased to 230.02 Tonnes in the fourth quarter of 2023 from 230.26 Tonnes in the third quarter of 2023. This dataset provides - Singapore Gold Reserves - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Government Spending in Singapore decreased to 14593.30 SGD Million in the fourth quarter of 2023 from 14780.40 SGD Million in the third quarter of 2023. This dataset provides - Singapore Government Spending - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Terms of Trade in Singapore increased to 102.16 points in February from 99.80 points in January of 2024. This dataset provides - Singapore Terms of Trade - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Key information about Singapore Public Consumption: % of GDP

• Singapore Public Consumption accounted for 10.2 % of its Nominal GDP in Dec 2023, compared with a share of 9.4 % in the previous year.
• Singapore Public Consumption share of Nominal GDP ratio is updated yearly, available from Dec 1960 to Dec 2023, with an average number of 10.2 %.
• The data reached an all-time high of 13.4 % in Dec 1985 and a record low of 7.5 % in Dec 1960.

CEIC calculates Government Consumption as % of Nominal GDP from annual Government Consumption Expenditure and annual Nominal GDP. The Singapore Department of Statistics provides Government Consumption Expenditure in local currency and Nominal GDP in local currency.


Related information about Singapore Public Consumption: % of GDP

• In the latest reports, Singapore GDP expanded 0.4 % YoY in Mar 2023.
• Singapore Nominal GDP reached 120.6 USD bn in Mar 2023.
• Its GDP deflator (implicit price deflator) fell 0.0 % in Mar 2023.
• Singapore GDP Per Capita reached 84,714.0 USD in Dec 2023.
• Its Gross Savings Rate was measured at 48.6 % in Dec 2023.
• For Nominal GDP contributions, Investment accounted for 21.0 % in Dec 2023.
• Private Consumption accounted for 31.3 % in Dec 2023.

Graph and download economic data for Capital Stock at Constant National Prices for Singapore (RKNANPSGA666NRUG) from 1960 to 2019 about Singapore, stocks, capital, and price.

Singapore: Economic globalization index (0-100): For that indicator, we provide data for Singapore from 1970 to 2021. The average value for Singapore during that period was 86.32 points with a minimum of 66.5 points in 1970 and a maximum of 95.29 points in 2007. The latest value from 2021 is 94 points. For comparison, the world average in 2021 based on 184 countries is 58.31 points.

Key information about Singapore Foreign Direct Investment: % of GDP

• Singapore Foreign Direct Investment (FDI) registered a growth equal to 42.9 % of the country's Nominal GDP in Dec 2023, compared with a growth equal to 26.5 % in the previous quarter.
• Singapore Foreign Direct Investment: % of Nominal GDP data is updated quarterly, available from Mar 1995 to Dec 2023.
• 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 25.5 USD bn in Dec 2023.
• Foreign Direct Investment (FDI) increased by 56.1 USD bn in Dec 2023.
• Singapore Direct Investment Abroad expanded by 21.5 USD bn in Dec 2023.
• Its Foreign Portfolio Investment increased by 12.6 USD bn in Dec 2023.
• The country's Nominal GDP was reported at 120.6 USD bn in Mar 2023.

Key information about Singapore Domestic Credit Growth

• Singapore Domestic Credit shrunk by 1.1 % YoY in Feb 2024, compared with a decrease of 1.4 % YoY in the previous month
• Singapore Domestic Credit Growth YoY data is updated monthly
• It averaged 8.8 %, available from Mar 2005 to Feb 2024
• The data reached an all-time high of 39.0 % in Sep 2007 and a record low of -6.0 % in Jul 2021

CEIC calculates Domestic Credit Growth from monthly Domestic Credit. Domestic Credit is calculated as Gross Domestic Credit less Government Deposits. The Monetary Authority of Singapore provides Domestic Credit in local currency. Domestic Credit prior to July 2021 covers transactions from Domestic Banking Units and Asian Currency Units.


Further information about Singapore Domestic Credit Growth

• In the latest reports, Singapore Domestic Credit reached 841.9 USD bn in Feb 2024
• Money Supply M2 in Singapore increased to 943.1 USD bn YoY in Feb 2024
• Singapore Foreign Exchange Reserves was measured at 343.1 USD bn in Feb 2024
• The Foreign Exchange Reserves equaled 10.2 Months of Import in Feb 2024
• The country's Non Performing Loans Ratio stood at 1.3 % in Dec 2019, compared with the ratio of 1.4 % in the previous quarter
• Household Debt of Singapore reached 54.1 % in Dec 2023, accounting for 54.1 % of the country's Nominal GDP

Singapore: Economic growth: the rate of change of real GDP: For that indicator, we provide data for Singapore from 1961 to 2022. The average value for Singapore during that period was 7.02 percent with a minimum of -3.9 percent in 2020 and a maximum of 14.52 percent in 2010. The latest value from 2022 is 3.65 percent. For comparison, the world average in 2022 based on 183 countries is 4.38 percent.

Singapore: Exports of goods and services, billion USD: For that indicator, we provide data for Singapore from 1960 to 2022. The average value for Singapore during that period was 199.33 billion U.S. dollars with a minimum of 1.09 billion U.S. dollars in 1961 and a maximum of 870.81 billion U.S. dollars in 2022. The latest value from 2022 is 870.81 billion U.S. dollars. For comparison, the world average in 2022 based on 148 countries is 179.74 billion U.S. dollars.

Singapore: Foreign Direct Investment, percent of GDP: For that indicator, we provide data for Singapore from 1970 to 2022. The average value for Singapore during that period was 14.19 percent with a minimum of 3.65 percent in 1976 and a maximum of 32.69 percent in 2021. The latest value from 2022 is 30.17 percent. For comparison, the world average in 2022 based on 176 countries is 1.68 percent.

Key information about Singapore Gross National Product (GNP)

• Singapore Gross National Product (GNP) was reported at 420.571 USD bn in Dec 2023.
• This records an increase from the previous number of 402.879 USD bn for Dec 2022.
• Singapore Gross National Product (GNP) data is updated yearly, averaging 48.469 USD bn from Dec 1960 to 2023, with 64 observations.
• The data reached an all-time high of 420.571 USD bn in 2023 and a record low of 717.600 USD mn in 1960.

Related information about Singapore Gross National Product (GNP) data

• Singapore Gross National Product (GNP) data remains active status in CEIC and is reported by CEIC Data.
• The SIngapore Department of Statistics provides annual Gross National Product in USD.

Key information about Singapore Labour Productivity Growth

• Singapore Labour Productivity improved by 0.80 % YoY in Dec 2023, compared with a drop of 3.10 % in the previous quarter
• Singapore Labour Productivity Growth data is updated quarterly, available from Mar 1986 to Dec 2023, averaging at 2.20 %
• The data reached an all-time high of 20.10 % in Jun 2021 and a record low of -13.00 % in Mar 2009

CEIC extends history for quarterly Labour Productivity Growth. The Singapore Department of Statistics provides Labour Productivity Growth at 2015 prices. Labour Productivity Growth prior to Q1 1992 is based on 1995 prices. Employment includes members of the Singapore Armed Forces

Singapore Number of Fire Occurrences: Total data was reported at 3,871.000 Number in 2017. This records a decrease from the previous number of 4,114.000 Number for 2016. Singapore Number of Fire Occurrences: Total data is updated yearly, averaging 4,856.000 Number from Dec 1968 to 2017, with 50 observations. The data reached an all-time high of 6,802.000 Number in 1983 and a record low of 1,395.000 Number in 1969. Singapore Number of Fire Occurrences: Total data remains active status in CEIC and is reported by Department of Statistics. The data is categorized under Global Database’s Singapore – Table SG.G077: Public Safety.

Graph and download economic data for Ratio of GNP to GDP for Singapore (GNPGDPSGA156NUPN) from 1960 to 2010 about Singapore, GNP, ratio, and GDP.

Singapore: Freedom from corruption index (0-100): For that indicator, we provide data for Singapore from 1995 to 2024. The average value for Singapore during that period was 91 points with a minimum of 84 points in 2016 and a maximum of 95 points in 2019. The latest value from 2024 is 88 points. For comparison, the world average in 2024 based on 180 countries is 44 points.

Singapore Airlines: Annual: Number of Destination Cities data was reported at 62.000 Unit in 2018. This records an increase from the previous number of 61.000 Unit for 2017. Singapore Airlines: Annual: Number of Destination Cities data is updated yearly, averaging 63.500 Unit from Mar 1987 to 2018, with 32 observations. The data reached an all-time high of 110.000 Unit in 1999 and a record low of 51.000 Unit in 1987. Singapore Airlines: Annual: Number of Destination Cities data remains active status in CEIC and is reported by Singapore Airlines. The data is categorized under Global Database’s Singapore – Table SG.TA013: Singapore Airlines Statistics.