Singapore’s gross domestic product shrank 3.4 percent quarter-on-quarter in the three months to June 2019, after expanding 3.8 percent in the previous period and missing market expectations of a 0.1 percent expansion, advanced data showed. It was the sharpest contraction since the third quarter of 2012, as the services sector (-1.5 percent from 4.4 percent in Q1) and construction output (-7.6 percent from 13.3 percent) shrank. Meantime, the manufacturing sector contracted 6 percent, less than a 6.4 percent decline in the prior period. On an annual basis, the economy advanced 0.1 percent, the weakest growth rate since the second quarter of 2009, slowing from a downwardly revised 1.1 percent expansion in the first quarter of the year and well below market forecasts of a 1.1 percent rise. GDP Growth Rate in Singapore averaged 6.60 percent from 1975 until 2019, reaching an all time high of 27.20 percent in the second quarter of 2010 and a record low of -10.90 percent in the third quarter of 2010.

GDP Growth Rate in Singapore is expected to be 1.70 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Growth Rate in Singapore to stand at 1.00 in 12 months time. In the long-term, the Singapore GDP Growth Rate is projected to trend around 1.70 percent in 2020, according to our econometric models.

Singapore GDP Growth Rate
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Forecast Data Chart
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Calendar GMT Actual Previous Consensus TEForecast
2019-02-15 12:00 AM GDP Growth Rate QoQ Final Q4 1.4% 1.4% 4.2% 1.6%
2019-04-12 12:00 AM GDP Growth Rate QoQ Adv Q1 2% 1.4% 1.2% 1.1%
2019-05-21 12:00 AM GDP Growth Rate QoQ Final Q1 3.8% -0.8% 2.3% 2%
2019-07-12 12:00 AM GDP Growth Rate QoQ Adv Q2 -3.4% 3.8% 0.1% 1.5%
2019-08-13 12:00 AM GDP Growth Rate QoQ Final Q2 3.8% -3.4% -3.4%
2019-10-12 12:00 AM GDP Growth Rate QoQ Adv Q3 1.7%
2019-11-22 12:00 AM GDP Growth Rate QoQ Final Q3 1.7%


Singapore GDP Last Previous Highest Lowest Unit
GDP Growth Rate -3.40 3.80 27.20 -10.90 percent [+]
GDP Annual Growth Rate 0.10 1.10 18.60 -7.70 percent [+]
GDP 364.16 338.41 364.16 0.70 USD Billion [+]
GDP Constant Prices 117673.00 116569.50 117673.00 7558.30 SGD Million [+]
Gross National Product 454012.90 431376.50 454012.90 2195.90 SGD Million [+]
Gross Fixed Capital Formation 29532.80 29816.30 31280.40 1971.60 SGD Million [+]
GDP per capita 58247.90 56740.80 58247.90 3503.40 USD [+]
GDP per capita PPP 90091.40 87760.40 90091.40 34911.70 USD [+]
GDP From Construction 4474.90 4330.70 5291.00 543.20 SGD Million [+]
GDP From Manufacturing 23026.00 23453.30 23657.30 1432.90 SGD Million [+]
GDP From Mining 76220.70 75207.50 76220.70 4246.90 SGD Million [+]
GDP From Services 16799.70 16559.50 17145.80 1105.30 SGD Million [+]
GDP From Transport 8083.10 8118.20 8118.20 538.40 SGD Million [+]
GDP From Utilities 1494.70 1469.10 1495.60 140.70 SGD Million [+]


Singapore GDP Growth Rate

Since gaining independence in 1963, Singaporean economy has been growing rapidly and as a result the country has now one of the highest GDP per capita in the world. The economy depends heavily on foreign trade; both from port activities and from exports of electronic components and refined oil. The country is a leading foreign direct investment recipient due to its status of one of the freest, most competitive and most business-friendly economies in the world. Singapore is also an important financial center. This page provides - Singapore GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Singapore GDP Growth Rate - actual data, historical chart and calendar of releases - was last updated on July of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
-3.40 3.80 27.20 -10.90 1975 - 2019 percent Quarterly
SA




Country Last Previous
United States 3.10 Mar/19
China 1.60 Jun/19
India 1.60 Dec/18
Turkey 1.30 Mar/19
Saudi Arabia 1.07 Dec/18
Spain 0.70 Mar/19
Japan 0.60 Mar/19
Switzerland 0.60 Mar/19
Netherlands 0.50 Mar/19
United Kingdom 0.50 Mar/19
Australia 0.40 Mar/19
Euro Area 0.40 Mar/19
Germany 0.40 Mar/19
France 0.30 Mar/19
Canada 0.10 Mar/19
Italy 0.10 Mar/19
Argentina -0.20 Mar/19
Brazil -0.20 Mar/19
Mexico -0.20 Mar/19
Russia -0.40 Mar/19
South Korea -0.40 Mar/19
Indonesia -0.52 Mar/19
South Africa -3.20 Mar/19
Singapore -3.40 Jun/19


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