Markets Actual Q3 Q4 Q1 Q2 2020
Currency 1.36 1.36 1.36 1.36 1.37 1.38
Stock Market (points) 3357.22 3288 3255 3222 3189 3125
Government Bond 10Y (%) 1.95 2.03 2.06 2.09 2.12 2.19
Overview Actual Q3 Q4 Q1 Q2 2020
GDP Growth Rate (%) -3.40 1.7 0.5 0.5 1 1.7
GDP Annual Growth Rate (%) 0.10 1.4 1.5 1.5 1.9 1.8
Unemployment Rate (%) 2.20 2.2 2.1 2.3 2.4 2.4
Inflation Rate (%) 0.90 1 1.2 1.4 1.6 1.7
Inflation Rate Mom (%) 0.70 0.5 0.4 0.2 0.5 0.5
Interest Rate (%) 1.67 2.3 2.1 2 2 1.5
Balance of Trade (Million SGD) 2447.29 3300 3400 5000 2000 6800
Current Account (SGD Million) 20296.50 26000 23500 21500 27500 24000
Current Account to GDP (%) 17.70 17.7 17.7 18 18 18
Government Debt to GDP (%) 112.20 106 106 108 108 108
Government Budget (% of GDP) 0.40 -0.6 -0.6 0.4 0.4 0.4
Business Confidence (Index Points) 1.00 8 6 12 5 7
Manufacturing PMI 49.60 49.1 49.9 50.6 50.1 50.2
Retail Sales MoM (%) -2.20 -2.9 -1.2 2.3 1.5 -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 Q3 Q4 Q1 Q2 2020
GDP Growth Rate (%) -3.40 1.7 0.5 0.5 1 1.7
GDP Annual Growth Rate (%) 0.10 1.4 1.5 1.5 1.9 1.8
GDP (USD Billion) 364.16 382 382 394 394 394
GDP Constant Prices (SGD Million) 117673.00 118452 118318 119438 119909 120448
Gross National Product (SGD Million) 454012.90 437416 460823 460823 462639 469118
Gross Fixed Capital Formation (SGD Million) 29532.80 29471 30264 29976 30094 30808
GDP per capita (USD) 58247.90 55900 55900 56240 56240 56240
GDP per capita PPP (USD) 90091.40 87000 87000 90000 90000 90000
GDP From Construction (SGD Million) 4474.90 4335 4396 4542 4560 4475
GDP From Manufacturing (SGD Million) 23026.00 23989 23805 23371 23463 24234
GDP From Services (SGD Million) 16799.70 17008 16808 17052 17119 17110
GDP From Transport (SGD Million) 8083.10 8223 8240 8204 8237 8388
GDP From Utilities (SGD Million) 1494.70 1483 1491 1517 1523 1518
Labour Actual Q3 Q4 Q1 Q2 2020
Unemployment Rate (%) 2.20 2.2 2.1 2.3 2.4 2.4
Unemployed Persons (Thousand ) 100.20 111 111 113 113 113
Average Weekly Hours 44.80 44.8 44.8 44.8 44.8 44.8
Labor Force Participation Rate (%) 67.70 68.2 67.9 68 67.8 68
Labour Costs (Index Points) 110.80 110 120 120 120 122
Productivity (Index Points) 110.80 96.5 108 112 97 110
Wages (SGD/Month) 6005.00 5150 5760 6010 5600 5920
Population (Million) 5.64 5.66 5.62 5.63 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 -1.5 2.4 2.5 5 12.2
Prices Actual Q3 Q4 Q1 Q2 2020
Inflation Rate (%) 0.90 1 1.2 1.4 1.6 1.7
Inflation Rate Mom (%) 0.70 0.5 0.4 0.2 0.5 0.5
Consumer Price Index CPI (Index Points) 100.80 101 101 102 102 103
Core Consumer Prices (Index Points) 104.80 107 106 107 107 109
Core Inflation Rate (%) 1.30 1.8 2.1 2.2 2 2.2
Producer Prices (Index Points) 98.23 112 103 104 101 114
Food Inflation (%) 1.40 1.3 1.6 1.5 1.3 1.7
Producer Prices Change (%) -2.50 -4 1.5 2 1.9 2
CPI Housing Utilities (Index Points) 88.50 90.7 90.57 90.25 89.92 92.11
CPI Transportation (Index Points) 100.20 98.98 98.27 99.37 102 99.94
Money Actual Q3 Q4 Q1 Q2 2020
Interest Rate (%) 1.67 2.3 2.1 2 2 1.5
Interbank Rate (%) 2.00 2.62 2.42 2.32 2.32 1.92
Money Supply M2 (SGD Million) 622406.00 612500 614000 614000 614000 625000
Foreign Exchange Reserves (SGD Million) 370557.90 399000 400000 401000 403500 410000
Banks Balance Sheet (SGD Million) 1312043.40 1329000 1335000 1345000 1360000 1410000
Loans to Private Sector (SGD Million) 681804.10 678887 681811 686242 686732 694084
Deposit Interest Rate (%) 0.20 0.83 0.63 0.53 0.53 0.13
Central Bank Balance Sheet (SGD Million) 412386.70 421000 423000 427000 430000 432000
Trade Actual Q3 Q4 Q1 Q2 2020
Balance of Trade (Million SGD) 2447.29 3300 3400 5000 2000 6800
Current Account (SGD Million) 20296.50 26000 23500 21500 27500 24000
Current Account to GDP (%) 17.70 17.7 17.7 18 18 18
Imports (Million SGD) 41233.25 44200 42500 42500 44100 44000
Exports (Million SGD) 43680.54 46450 43900 44500 47600 47300
External Debt (SGD Million) 2043894.40 2039867 2076682 2074553 2082728 2114062
Tourist Arrivals 1484127.00 1490000 1620000 1590000 1600000 1660000
Foreign Direct Investment (SGD Million) 33093.60 28500 26000 26000 28000 27700
Government Actual Q3 Q4 Q1 Q2 2020
Government Debt to GDP (%) 112.20 106 106 108 108 108
Government Budget (% of GDP) 0.40 -0.6 -0.6 0.4 0.4 0.4
Government Spending (SGD Million) 12422.70 12301 12496 12609 12659 12721
Government Debt (SGD Million) 561896.00 572000 580000 590000 595000 605000
Taxes Actual Q3 Q4 Q1 Q2 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 Q3 Q4 Q1 Q2 2020
Business Confidence (Index Points) 1.00 8 6 12 5 7
Manufacturing PMI 49.60 49.1 49.9 50.6 50.1 50.2
Industrial Production (%) -2.40 2.6 1.5 3.5 3 4
Industrial Production Mom (%) -0.70 1 1.4 0.5 -0.5 1.6
Changes in Inventories (SGD Million) 2212.50 1730 2090 2090 2090 1920
Car Registrations 9143.00 8900 12500 10700 11000 13000
Leading Economic Index (Index Points) 109.30 110 107 108 105 109
Composite Pmi 50.60 52.8 52.2 51.5 50.5 53.1
Consumer Actual Q3 Q4 Q1 Q2 2020
Retail Sales MoM (%) -2.20 -2.9 -1.2 2.3 1.5 -0.5
Retail Sales YoY (%) -2.10 1.6 4.1 2.4 1.5 3
Consumer Spending (SGD Million) 43858.50 43792 44302 44516 44692 45100
Private Sector Credit (SGD Million) 610173.70 607000 612000 612000 612000 634000
Bank Lending Rate (%) 5.25 5.88 5.68 5.58 5.58 5.18
Households Debt To GDP (% of GDP) 54.70 59.4 59.2 59.5 59.5 60
Gasoline Prices (USD/Liter) 1.63 1.67 1.63 1.59 1.54 1.54
Housing Actual Q3 Q4 Q1 Q2 2020
Housing Index (Index Points) 150.50 150 151 153 154 156
New Home Sales (Units) 735.00 587 590 700 750 560
Home Ownership Rate (%) 91.00 91.5 91.5 91.7 91 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.