The economy of Singapore grew an annual 2.6 percent in the third quarter of 2018, slightly above market expectations of a 2.5 percent expansion but well below the 4.1 percent final growth rate for the previous quarter, advanced data showed. Moderate growth was mainly explained by manufacturing, which expanded 4.5 percent after a 10.6 percent expansion in the previous quarter, with growth mainly nudged by output expansions in the electronics, biomedical manufacturing and transport engineering clusters. Meantime, services grew at a 2.9 percent pace for the second quarter. In contrast, construction extended its contraction, shrinking 3.1 percent after falling 4.2 percent in Q2. GDP Annual Growth Rate in Singapore averaged 6.63 percent from 1976 until 2018, reaching an all time high of 19 percent in the second quarter of 2010 and a record low of -8.80 percent in the first quarter of 2009.

Singapore GDP Annual Growth Rate
width
height
Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices.

The Trading Economics Application Programming Interface (API) provides direct access to our data. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds.



Singapore Economy Expands 2.6% YoY in Q3


The economy of Singapore grew an annual 2.6 percent in the third quarter of 2018, slightly above market expectations of a 2.5 percent expansion but well below the 4.1 percent final growth rate for the previous quarter, advanced data showed.

Moderate growth was mainly explained by manufacturing, which expanded 4.5 percent after a 10.6 percent expansion in the previous quarter, with growth mainly nudged by output expansions in the electronics, biomedical manufacturing and transport engineering clusters. Meantime, services grew at a 2.9 percent pace for the second straight quarter, mainly supported by growth in finance & insurance, business services and wholesale & retail trade sectors. In contrast, construction extended its contraction, shrinking 3.1 percent after falling 4.2 percent in Q2, as weakness in public construction activities persisted.

On a quarter-on-quarter seasonally-adjusted annualized basis, GDP expanded 4.7 percent quarter-on-quarter in the third quarter of 2018, well above the 1.2 percent final growth for the previous quarter but missing expectations of a 4.9 percent increase. It was the fastest expansion in four quarters, mainly nudged by further growth in manufacturing (7.6 percent vs 2.9 percent in Q2) and services (6.3 percent vs 0.7 percent), and a rebound in construction (1.7 percent vs -14.5 percent). 


Mario | mario@tradingeconomics.com
10/12/2018 12:40:31 AM



Calendar GMT Actual Previous Consensus TEForecast
2018-07-13 12:00 AM GDP Growth Rate YoY Adv 3.8% 4.3% 4% 3.7%
2018-08-13 12:00 AM GDP Growth Rate YoY Final 3.9% 4.5% 4.3% 3.9%
2018-10-12 12:00 AM GDP Growth Rate YoY Adv 2.6% 3.9% 2.5% 2.6%
2018-11-23 12:00 AM GDP Growth Rate YoY Final 3.9% 4.1% 2.6%


Singapore GDP Last Previous Highest Lowest Unit
GDP Growth Rate 4.70 1.20 36.60 -13.50 percent [+]
GDP Annual Growth Rate 2.60 4.10 19.00 -8.80 percent [+]
GDP 323.91 309.76 323.91 0.70 USD Billion [+]
GDP Constant Prices 108395.10 108120.00 108395.10 7052.30 SGD Million [+]
Gross National Product 431376.50 405836.50 431376.50 2195.90 SGD Million [+]
Gross Fixed Capital Formation 28187.50 26138.90 28684.50 1874.00 SGD Million [+]
GDP per capita 55235.51 53353.80 55235.51 3389.60 USD [+]
GDP per capita PPP 85535.38 82621.50 85535.38 34344.70 USD [+]
GDP From Construction 4312.90 4507.10 4847.60 508.90 SGD Million [+]
GDP From Manufacturing 21356.60 21085.30 21356.60 1303.30 SGD Million [+]
GDP From Mining 72280.80 72486.50 72486.50 4133.60 SGD Million [+]
GDP From Services 19683.70 19518.70 20107.10 1333.10 SGD Million [+]
GDP From Transport 8151.60 8214.20 8297.20 543.10 SGD Million [+]
GDP From Utilities 1359.50 1344.70 1364.60 130.20 SGD Million [+]


Singapore GDP Annual Growth Rate

In Singapore, services are the biggest sector of the economy and account for 72 percent of GDP. Within services the most important segments are: wholesale and retail trade (18 percent of total GDP); business services (16 percent); finance and insurance (13 percent), transport and storage (10 percent) and information and communications (5 percent). Industry contributes the remaining 28 percent total output. Manufacturing (21 percent) and construction (5 percent) are the most important industry segments. This page provides - Singapore GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Singapore GDP Annual Growth Rate - actual data, historical chart and calendar of releases - was last updated on November of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
2.60 4.10 19.00 -8.80 1976 - 2018 percent Quarterly




Country Last
India 8.20 Jun/18
China 6.50 Sep/18
Turkey 5.20 Jun/18
Indonesia 5.17 Sep/18
Australia 3.40 Jun/18
Switzerland 3.40 Jun/18
United States 3.00 Sep/18
Mexico 2.60 Sep/18
Singapore 2.60 Sep/18
Spain 2.50 Sep/18
Netherlands 2.40 Sep/18
South Korea 2.00 Sep/18
Canada 1.90 Jun/18
Euro Area 1.70 Sep/18
Saudi Arabia 1.61 Jun/18
France 1.50 Sep/18
United Kingdom 1.50 Sep/18
Russia 1.30 Sep/18
Germany 1.10 Sep/18
Brazil 1.00 Jun/18
Italy 0.80 Sep/18
South Africa 0.40 Jun/18
Japan 0.30 Sep/18
Argentina -4.20 Jun/18


Related

Latest