Markets Actual Q2 Q3 Q4 Q1 2020
Currency 1.37 1.36 1.37 1.37 1.38 1.39
Stock Market (points) 3170.77 3366 3333 3299 3266 3201
Government Bond 10Y (%) 2.13 2.2 2.24 2.27 2.3 2.37
Overview Actual Q2 Q3 Q4 Q1 2020
GDP Growth Rate (%) 3.80 2.7 4.7 3.2 1.5 3.7
GDP Annual Growth Rate (%) 1.20 1.7 2.4 2.5 2 2.6
Unemployment Rate (%) 2.20 2.2 2.2 2.1 2.3 2.4
Inflation Rate (%) 0.80 1.1 1 1.2 1.4 1.7
Inflation Rate Mom (%) -0.30 0.1 0.5 0.4 0.2 0.5
Interest Rate (%) 2.24 2.2 2.3 2.1 2 1.5
Balance of Trade (Million SGD) 2782.79 3700 3300 3400 5000 6800
Current Account (SGD Million) 20296.50 26700 26000 23500 21500 24000
Current Account to GDP (%) 17.70 17.7 17.7 17.7 18 18
Government Debt to GDP (%) 112.20 106 106 106 108 108
Government Budget (% of GDP) 0.40 -0.6 -0.6 -0.6 0.4 0.4
Business Confidence (Index Points) 1.00 7 8 6 12 7
Manufacturing PMI 50.30 50.5 51 51.7 52 50.2
Retail Sales MoM (%) 1.00 -0.3 -2.9 -1.2 2.3 -0.5
Corporate Tax Rate (%) 17.00 17 17 17 17 17
Personal Income Tax Rate (%) 22.00 22 22 22 23 23
GDP Actual Q2 Q3 Q4 Q1 2020
GDP Growth Rate (%) 3.80 2.7 4.7 3.2 1.5 3.7
GDP Annual Growth Rate (%) 1.20 1.7 2.4 2.5 2 2.6
GDP (USD Billion) 323.91 343 343 343 352 352
GDP Constant Prices (SGD Million) 117673.00 110958 111607 113886 113330 116847
Gross National Product (SGD Million) 454012.90 433822 434828 465363 463093 477463
Gross Fixed Capital Formation (SGD Million) 29532.80 28280 26159 30749 30599 31548
GDP per capita (USD) 55235.51 55900 55900 55900 56240 56240
GDP per capita PPP (USD) 85535.38 87000 87000 87000 90000 90000
GDP From Construction (SGD Million) 4474.90 4198 4216 4340 4319 4453
GDP From Manufacturing (SGD Million) 23026.00 21609 21696 21911 21804 22481
GDP From Services (SGD Million) 16799.70 20363 20419 20674 20573 21211
GDP From Transport (SGD Million) 8083.10 8304 8427 8574 8532 8797
GDP From Utilities (SGD Million) 1494.70 1366 1352 1393 1386 1429
Labour Actual Q2 Q3 Q4 Q1 2020
Unemployment Rate (%) 2.20 2.2 2.2 2.1 2.3 2.4
Unemployed Persons (Thousand ) 100.20 111 111 111 113 113
Average Weekly Hours 45.00 44.8 44.8 44.8 44.8 44.8
Labor Force Participation Rate (%) 67.70 71 71 71 71.5 71.5
Labour Costs (Index Points) 110.80 108 110 120 120 122
Productivity (Index Points) 110.80 108 110 120 120 122
Wages (SGD/Month) 5752.00 5400 5150 5760 6010 5920
Population (Million) 5.64 5.66 5.66 5.62 5.63 5.63
Retirement Age Women 62.00 62 62 62 62 62
Retirement Age Men 62.00 62 62 62 62 62
Employment Change (Thousands Person) 14.70 8.5 -1.5 2.4 2.5 12.2
Prices Actual Q2 Q3 Q4 Q1 2020
Inflation Rate (%) 0.80 1.1 1 1.2 1.4 1.7
Inflation Rate Mom (%) -0.30 0.1 0.5 0.4 0.2 0.5
Consumer Price Index CPI (Index Points) 100.10 101 101 101 102 103
Core Consumer Prices (Index Points) 105.60 105 107 106 107 109
Core Inflation Rate (%) 1.30 1.5 1.8 2.1 2.2 2.2
Producer Prices (Index Points) 98.50 110 112 103 106 114
Food Inflation (%) 1.30 1.2 1.3 1.6 1.5 1.7
Producer Prices Change (%) 3.50 8.9 7 6.5 8 11.5
CPI Housing Utilities (Index Points) 86.10 90.08 90.7 90.57 90.45 92.11
CPI Transportation (Index Points) 99.80 99.38 98.98 98.27 99.17 99.94
Money Actual Q2 Q3 Q4 Q1 2020
Interest Rate (%) 2.24 2.2 2.3 2.1 2 1.5
Interbank Rate (%) 2.01 1.91 2.01 1.81 1.71 1.71
Money Supply M2 (SGD Million) 614081.50 611000 612500 614000 614000 625000
Foreign Exchange Reserves (SGD Million) 404019.30 398600 399000 400000 400000 410000
Banks Balance Sheet (SGD Million) 1294406.20 1322900 1329000 1335000 1335000 1410000
Loans to Private Sector (SGD Million) 676135.90 699000 705000 710000 710000 715000
Deposit Interest Rate (%) 0.20 0.15 0.25 0.05 -0.05 -0.05
Central Bank Balance Sheet (SGD Million) 412386.70 419500 421000 423000 423000 429000
Trade Actual Q2 Q3 Q4 Q1 2020
Balance of Trade (Million SGD) 2782.79 3700 3300 3400 5000 6800
Current Account (SGD Million) 20296.50 26700 26000 23500 21500 24000
Current Account to GDP (%) 17.70 17.7 17.7 17.7 18 18
Imports (Million SGD) 41100.06 42500 44200 42500 42500 44000
Exports (Million SGD) 43882.85 46200 47450 45900 44500 47300
External Debt (SGD Million) 2045992.30 2290000 2422000 2550000 2550000 2735000
Tourist Arrivals 1564254.00 1550000 1490000 1620000 1650000 1660000
Foreign Direct Investment (SGD Million) 33093.60 23600 24500 25000 25000 27700
Government Actual Q2 Q3 Q4 Q1 2020
Government Debt to GDP (%) 112.20 106 106 106 108 108
Government Budget (% of GDP) 0.40 -0.6 -0.6 -0.6 0.4 0.4
Government Spending (SGD Million) 12422.70 10752 10760 10967 10914 11252
Government Debt (SGD Million) 561896.00 564000 572000 611000 620000 636000
Taxes Actual Q2 Q3 Q4 Q1 2020
Corporate Tax Rate (%) 17.00 17 17 17 17 17
Personal Income Tax Rate (%) 22.00 22 22 22 23 23
Sales Tax Rate (%) 7.00 7 7 7 7 7
Social Security Rate For Companies (%) 17.00 17 17 17 17 17
Social Security Rate For Employees (%) 20.00 20 20 20 20 20
Business Actual Q2 Q3 Q4 Q1 2020
Business Confidence (Index Points) 1.00 7 8 6 12 7
Manufacturing PMI 50.30 50.5 51 51.7 52 50.2
Industrial Production (%) 0.10 6.8 7.6 5.5 3.5 6
Industrial Production Mom (%) 2.40 0.7 1 1.4 0.5 1.6
Changes in Inventories (SGD Million) 2212.50 2450 1730 2090 2090 1920
Car Registrations 10378.00 12200 10400 14500 10200 15000
Leading Economic Index (Index Points) 109.30 110 110 107 108 109
Composite Pmi 53.30 53 52.8 52.2 51.5 53.1
Consumer Actual Q2 Q3 Q4 Q1 2020
Retail Sales MoM (%) 1.00 -0.3 -2.9 -1.2 2.3 -0.5
Retail Sales YoY (%) -1.00 1.6 0.3 4.1 2.4 3
Consumer Spending (SGD Million) 43858.50 37639 38681 39514 39322 40542
Private Sector Credit (SGD Million) 605775.60 603500 607000 612000 612000 634000
Bank Lending Rate (%) 5.25 5.21 5.31 5.11 5.01 5.01
Households Debt To GDP (% of GDP) 54.90 59.5 59.4 59.2 59.5 60
Gasoline Prices (USD/Liter) 1.67 1.52 1.48 1.44 1.41 1.41
Housing Actual Q2 Q3 Q4 Q1 2020
Housing Index (Index Points) 148.60 151 150 151 153 156
New Home Sales (Units) 455.00 530 587 590 700 560
Home Ownership Rate (%) 91.00 91.5 91.5 91.5 91.7 91.7


This page has economic forecasts for Singapore including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Singapore economy.