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.

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 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 expanded 4.20 percent in the third quarter of 2025 over the same quarter of the previous year. This dataset provides - Singapore GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Historical dataset showing Singapore economic growth by year from 1960 to 2023.

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.

Historical dataset showing Singapore gdp growth rate by year from 1961 to 2023.

Monthly and long-term Singapore economic indicators data: historical series and analyst forecasts curated by FocusEconomics.

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.

Actual value and historical data chart for Singapore GDP Us Dollar

Full Year GDP Growth in Singapore increased to 4.40 percent in 2024 from 1.80 percent in 2023. This dataset includes a chart with historical data for Singapore Full Year GDP Growth.

Key information about Singapore GDP Deflator Growth

• Singapore GDP deflator (implicit price deflator) fell 0.7 % in Sep 2025, compared with a drop of 2.0 % in the previous quarter.
• Singapore GDP Deflator Growth data is updated quarterly, available from Mar 1976 to Sep 2025, with an average rate of 4.8 %.
• The data reached an all-time high of 20.3 % in Jun 2022 and a record low of -8.7 % in Jun 2023.

• In the latest reports, Singapore GDP expanded 4.2 % YoY in Sep 2025.
• Its Nominal GDP reached 147.8 USD bn 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.

Singapore recorded a real gross domestic product (GDP) growth rate of around 4.4 percent in 2024 compared to the previous year. While up from the previous year, this number is expected to decline in 2025, 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.

Historical dataset showing Singapore GDP per capita by year from 1960 to 2023.

Historical dataset showing Singapore trade to gdp ratio by year from 1960 to 2023.

Singapore GDP: USD: Seasonally Adjusted data was reported at 501.320 USD bn in 2023. This records an increase from the previous number of 498.434 USD bn for 2022. Singapore GDP: USD: Seasonally Adjusted data is updated yearly, averaging 127.645 USD bn from Dec 1987 (Median) to 2023, with 37 observations. The data reached an all-time high of 501.320 USD bn in 2023 and a record low of 21.616 USD bn in 1987. Singapore GDP: USD: Seasonally Adjusted 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.GEM: Gross Domestic Products: Nominal: Annual.

Key information about Singapore GDP Per Capita

• Singapore Gross Domestic Product (GDP) per Capita reached 90,689.000 USD in Dec 2024, compared with 85,392.000 USD in Dec 2023.
• Singapore GDP Per Capita data is updated yearly, available from Dec 1960 to Dec 2024, with an average number of 16,136.000 USD.
• The data reached an all-time high of 90,689.000 USD in Dec 2024 and a record low of 428.000 in Dec 1960.
• Mid-Year Population is used in the calculation of GDP per Capita.

• In the latest reports, Singapore GDP expanded 4.200 % YoY in Sep 2025.
• Singapore Nominal GDP reached 147.764 USD bn in Sep 2025.
• Its GDP deflator (implicit price deflator) fell 0.722 % in Sep 2025.
• Gross Savings Rate of Singapore was measured at 47.456 % in Dec 2024.

Singapore SG: GDP: % of Total Value Added: Industry data was reported at 22.400 % in 2023. This records a decrease from the previous number of 23.750 % for 2022. Singapore SG: GDP: % of Total Value Added: Industry data is updated yearly, averaging 29.225 % from Dec 1990 (Median) to 2023, with 34 observations. The data reached an all-time high of 32.620 % in 1991 and a record low of 22.400 % in 2023. Singapore SG: GDP: % of Total Value Added: Industry data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s Singapore – Table SG.OECD.GGI: Governance: Economic Environment and Growth: Non OECD Member: Annual.

Singapore: GDP per capita, current U.S. dollars: The latest value from 2024 is 90674.07 U.S. dollars, an increase from 85412.23 U.S. dollars in 2023. In comparison, the world average is 19439.19 U.S. dollars, based on data from 176 countries. Historically, the average for Singapore from 1960 to 2024 is 24455.24 U.S. dollars. The minimum value, 428.06 U.S. dollars, was reached in 1960 while the maximum of 90674.07 U.S. dollars was recorded in 2024.

Singapore SG: General Government: Expenditure: % of GDP data was reported at 20.072 % in 2023. This records an increase from the previous number of 19.929 % for 2022. Singapore SG: General Government: Expenditure: % of GDP data is updated yearly, averaging 17.649 % from Dec 1990 (Median) to 2023, with 34 observations. The data reached an all-time high of 21.579 % in 2001 and a record low of 13.593 % in 1994. Singapore SG: General Government: Expenditure: % of GDP data remains active status in CEIC and is reported by International Monetary Fund. The data is categorized under Global Database’s Singapore – Table SG.IMF.FM: Government Finance Statistics.