The Gross Domestic Product (GDP) in Singapore expanded 4.30 percent in the second 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 gdp growth rate for 2023 was 1.08%, a 2.76% decline from 2022.

<ul style='margin-top:20px;'>

<li>Singapore gdp growth rate for 2022 was <strong>3.84%</strong>, a <strong>5.85% decline</strong> from 2021.</li>
<li>Singapore gdp growth rate for 2021 was <strong>9.69%</strong>, a <strong>13.56% increase</strong> from 2020.</li>
<li>Singapore gdp growth rate for 2020 was <strong>-3.87%</strong>, a <strong>5.21% decline</strong> from 2019.</li>
</ul>Annual percentage growth rate of GDP at market prices based on constant local currency. Aggregates are based on constant 2010 U.S. dollars. GDP is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources.

In the first quarter of 2024, the Singapore GDP grew by ***** percent compared to the same quarter the previous year. The GDP was forecast to grow by *** percent in the second quarter of 2024, compared to the corresponding quarter the previous 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.

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.

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 expanded 1.40 percent in the second 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.

Key information about Singapore Real GDP Growth

• The Gross Domestic Product (GDP) in Singapore expanded 0.4 % YoY in Mar 2023, following a growth of 2.1 % in the previous quarter.
• Real GDP Growth YoY data in Singapore is updated quarterly, available from Mar 1976 to Mar 2023, with an average rate of 6.6 %.
• The data reached an all-time high of 18.6 % in Jun 2010 and a record low of -11.9 % in Jun 2020.

The Singapore Department of Statistics provides Real GDP Growth at chain linked 2015 prices.


Related information about Singapore Real GDP Growth

• In the latest reports, Nominal GDP of Singapore reached 120.6 USD bn in Mar 2023.
• Its GDP deflator (implicit price deflator) fell 0.0 % in Mar 2023.
• GDP Per Capita in Singapore reached 82,794.0 USD in Dec 2022.
• Its Gross Savings Rate was measured at 49.2 % in Dec 2022.
• For Nominal GDP contributions, Investment accounted for 21.9 % in Dec 2022.
• Public Consumption accounted for 10.0 % in Dec 2022.
• Private Consumption accounted for 29.8 % in Dec 2022.

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.

Key information about Singapore Nominal GDP Growth

• Singapore Nominal GDP Growth was reported at 6.963 % in Dec 2024.
• This records a decrease from the previous number of 8.453 % for Sep 2024.
• Singapore Nominal GDP Growth data is updated quarterly, averaging 9.226 % from Mar 1976 to Dec 2024, with 196 observations.
• The data reached an all-time high of 31.843 % in Jun 2021 and a record low of -15.149 % in Jun 2020.
• Singapore Nominal GDP Growth data remains active status in CEIC and is reported by CEIC Data.
• The data is categorized under World Trend Plus’s Global Economic Monitor – Table: Nominal GDP: Y-o-Y Growth: Quarterly: Seasonally Adjusted.

CEIC calculates quarterly Nominal GDP Growth from quarterly Nominal GDP. The Singapore Department of Statistics provides Nominal GDP in local currency.

Dataset from Singapore Department of Statistics. For more information, visit https://data.gov.sg/datasets/d_a5ff719648a0e6d4b4c623ee383ab686/view

Singapore GDP per capita for 2023 was $84,734, a 4.18% decline from 2022.

<ul style='margin-top:20px;'>

<li>Singapore GDP per capita for 2022 was <strong>$88,429</strong>, a <strong>11.09% increase</strong> from 2021.</li>
<li>Singapore GDP per capita for 2021 was <strong>$79,601</strong>, a <strong>29.5% increase</strong> from 2020.</li>
<li>Singapore GDP per capita for 2020 was <strong>$61,467</strong>, a <strong>6.98% decline</strong> from 2019.</li>
</ul>GDP per capita is gross domestic product divided by midyear population. GDP is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Data are in current U.S. dollars.

The gross domestic product (GDP) per capita in Singapore amounted to 90,670 U.S. dollars in 2024. Between 1980 and 2024, the GDP per capita rose by 85,670 U.S. dollars, though the increase followed an uneven trajectory rather than a consistent upward trend. The GDP per capita will steadily rise by 19,890 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).

Key information about Singapore Private Consumption: % of GDP

• Singapore Private Consumption accounted for 31.5 % of its Nominal GDP in Dec 2024, compared with a ratio of 31.6 % in the previous year.
• Singapore Private Consumption contribution to Nominal GDP ratio is updated yearly, available from Dec 1960 to Dec 2024, with an average share of 43.7 %.
• The data reached an all-time high of 90.4 % in Dec 1961 and a record low of 28.0 % in Dec 2022.

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


Related information about Singapore Private Consumption: % of GDP

• In the latest reports, Singapore GDP expanded 0.4 % YoY in Mar 2023.
• Its Nominal GDP reached 120.6 USD bn in Mar 2023.
• Singapore GDP Per Capita reached 90,689.0 USD in Dec 2024.
• Its Gross Savings Rate was measured at 48.6 % in Dec 2023.

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.

Key information about Singapore Public Consumption: % of GDP

• Singapore Public Consumption accounted for 10.6 % of its Nominal GDP in Dec 2024, compared with a share of 10.0 % in the previous year.
• Singapore Public Consumption share of Nominal GDP ratio is updated yearly, available from Dec 1960 to Dec 2024, 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.

Key information about Singapore Nominal GDP

• Singapore Nominal GDP reached 120.6 USD bn in Mar 2023, compared with 113.0 USD bn in the previous quarter.
• Nominal GDP in Singapore is updated quarterly, available from Mar 1975 to Mar 2023, with an average number of 23.0 USD bn.
• The data reached an all-time high of 120.6 USD bn in Mar 2023 and a record low of 1.4 USD bn in Sep 1975.

CEIC converts quarterly Nominal GDP into USD. The Singapore Department of Statistics provides Nominal GDP in local currency. Federal Reserve Board average market exchange rate is used for currency conversions.


Related information about Singapore Nominal GDP

• In the latest reports, Singapore GDP expanded 0.4 % YoY in Mar 2023.
• Its GDP deflator (implicit price deflator) fell 0.0 % in Mar 2023.
• Singapore GDP Per Capita reached 82,794.0 USD in Dec 2022.
• Its Gross Savings Rate was measured at 49.2 % in Dec 2022.
• For Nominal GDP contributions, Investment accounted for 21.9 % in Dec 2022.
• Public Consumption accounted for 10.0 % in Dec 2022.
• Private Consumption accounted for 29.8 % in Dec 2022.

GDP deflator: linked series (base year varies by country) in Singapore was reported at 130 year in 2024, according to the World Bank collection of development indicators, compiled from officially recognized sources. Singapore - GDP deflator: linked series (base year varies by country) - actual values, historical data, forecasts and projections were sourced from the World Bank on August of 2025.

Graph and download economic data for Gross Domestic Product Per Capita for Singapore (PCAGDPSGA646NWDB) from 1960 to 2024 about Singapore, per capita, and GDP.

In the fourth quarter of 2024, Singapore's gross domestic product (GDP) grew by *** percent compared to the previous quarter. In the previous quarter, the GDP grew by *** percent.