The Gross Domestic Product (GDP) in Singapore expanded 3.90 percent in the first 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.

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.

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.

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.

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 (current US$) in Singapore was reported at 547386645892 USD in 2024, 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 July of 2025.

Economic growth, quarterly in Singapore, March, 2025 The most recent value is -0.6 percent as of Q1 2025, a decline compared to the previous value of 0.5 percent. Historically, the average for Singapore from Q2 1975 to Q1 2025 is 1.5 percent. The minimum of -12.1 percent was recorded in Q2 2020, while the maximum of 9.1 percent was reached in Q3 2020. | TheGlobalEconomy.com

GDP Growth Annualized in Singapore decreased to -2.60 percent in the first quarter of 2025 from 2 percent in the fourth quarter of 2024. This dataset provides - Singapore Gdp Growth Annualized- actual values, historical data, forecast, chart, statistics, economic calendar and news.

In 2024, the real gross domestic product (GDP) in Vietnam grew by approximately **** percent, marking the highest growth rate in Southeast Asia. In comparison, Myanmar's real GDP growth rate dropped by **** percent. Southeast Asia, a tapestry of economic and cultural complexity Historically a critical component of global trade, Southeast Asia is a diverse region with heterogeneous economies. The region comprises ** countries in total. While Singapore is a highly developed country economy and Brunei has a relatively high GDP per capita, the rest of the Southeast Asian countries are characterized by lower GDPs per capita and have yet to overcome the middle-income trap. Malaysia is one of these countries, having reached the middle-income level for many decades but yet to grow incomes proportionally to its economic development. Nevertheless, Southeast Asia’s young population will further drive economic growth across the region’s markets. ASEAN’s economic significance Aiming to promote economic growth, social progress, cultural development, and regional stability, all Southeast Asian countries except for Timor-Leste are part of the political and economic union Association of Southeast Asian Nations (ASEAN). Even though many concerns surround the union, ASEAN has avoided trade conflicts and is one of the largest and most dynamic trade zones globally. Factors such as the growing young population, high GDP growth, a largely positive trade balance, and exemplary regional integration hold great potential for future economic development in Southeast Asia.

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

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.

The gross domestic product (GDP) per capita in Singapore was about 90.67 thousand U.S. dollars in 2024. Between 1980 and 2024, the GDP per capita rose by approximately 85.67 thousand U.S. dollars, though the increase followed an uneven trajectory rather than a consistent upward trend. The GDP per capita will steadily rise by around 19.89 thousand U.S. dollars over the period from 2024 to 2030, reflecting a clear upward trend.This indicator describes the gross domestic product per capita at current prices. Thereby, the gross domestic product was first converted from national currency to U.S. dollars at current exchange rates and then divided by the total population. The gross domestic product is a measure of a country's productivity. It refers to the total value of goods and service produced during a given time period (here a year).

In 2023, the estimated total GDP of all ASEAN states amounted to approximately 3.8 trillion U.S. dollars, a significant increase from the previous years. In fact, the GDP of the ASEAN region has been skyrocketing for a few years now, reflecting the region’s thriving economy. Power in the EastThe Association of Southeast Asian Nations (ASEAN) comprises Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam. It was established in 1967 among five of these countries (Indonesia, Malaysia, Thailand, Singapore, and the Philippines) to facilitate trade and economic growth, as well as promote cultural development and social structures in the region. To date, they have been joined by another five nations. The ASEAN marketThe founding of the ASEAN organization provides the collaborating nations with more autonomy and influence on the global economy than they would have had by themselves. Additionally, struggling participating countries, such as Laos, are given an opportunity to grow on an ASEAN single market.

The latest data from show economic growth of 3.9 pour cent, which is a decrease from the rate of growth of 5 pour cent in the previous quarter and
an increase compared to the growth rate of 3.2 pour cent in the same quarter last year. The economic growth time series for Singapour cover the period...

The Gross Domestic Product per capita in Singapore was last recorded at 67706.83 US dollars in 2024. The GDP per Capita in Singapore is equivalent to 536 percent of the world's average. This dataset provides - Singapore GDP per capita - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Consumption growth in Singapore, March, 2025 The most recent value is 4.43 percent as of Q1 2025, a decline compared to the previous value of 4.84 percent. Historically, the average for Singapore from Q1 1976 to Q1 2025 is 7.21 percent. The minimum of -29.94 percent was recorded in Q2 2020, while the maximum of 27.94 percent was reached in Q2 2021. | TheGlobalEconomy.com

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.

Investment growth in Singapore, March, 2025 The most recent value is 8.42 percent as of Q1 2025, an increase compared to the previous value of 7.94 percent. Historically, the average for Singapore from Q1 1976 to Q1 2025 is 8.27 percent. The minimum of -29.48 percent was recorded in Q2 2020, while the maximum of 54.72 percent was reached in Q1 1980. | TheGlobalEconomy.com

Key information about Singapore M2 Growth

• Singapore Money Supply M2 increased 6.7 % YoY in Jan 2025, compared with a growth of 6.7 % in the previous month
• Singapore Money Supply M2 growth data is updated monthly, available from Mar 2005 to Jan 2025
• The data reached an all-time high of 23.0 % in Mar 2007 and a record low of 1.0 % in Feb 2016

CEIC calculates M2 Growth Rate from monthly M2. The Monetary Authority of Singapore provides M2 in local currency. Money Supply M2 prior to July 2021 covers transactions from Domestic Banking Units and Asian Currency Units.


Further information about Singapore M2 Growth

• In the latest reports, Singapore Foreign Exchange Reserves was measured at 363.3 USD bn in Jan 2025
• The Foreign Exchange Reserves equaled 9.0 Months of Import in Jan 2025
• Singapore Domestic Credit reached 887.0 USD bn in Jan 2025, representing an increased of 6.1 % YoY
• 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 278.8 USD bn in Jan 2025, accounting for 52.0 % of the country's Nominal GDP

Key information about Singapore Domestic Credit Growth

• Singapore Domestic Credit increased 6.1 % YoY in Jan 2025, compared with an increase of 6.3 % YoY in the previous month
• Singapore Domestic Credit Growth YoY data is updated monthly
• It averaged 8.2 %, available from Mar 2005 to Jan 2025
• 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 887.0 USD bn in Jan 2025
• Money Supply M2 in Singapore increased to 994.1 USD bn YoY in Jan 2025
• Singapore Foreign Exchange Reserves was measured at 363.3 USD bn in Jan 2025
• The Foreign Exchange Reserves equaled 9.0 Months of Import in Jan 2025
• 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 52.0 % in Sep 2024, accounting for 52.0 % of the country's Nominal GDP