The Gross Domestic Product (GDP) in Singapore contracted 2 percent in the second quarter of 2021 over the previous quarter. source: Statistics Singapore

GDP Growth Rate in Singapore averaged 1.52 percent from 1975 until 2021, reaching an all time high of 9 percent in the third quarter of 2020 and a record low of -13.20 percent in the second quarter of 2020. This page provides - Singapore GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Singapore GDP Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on July of 2021.

GDP Growth Rate in Singapore is expected to be 5.00 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 2.00 percent in 2022, according to our econometric models.

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Singapore GDP Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
-2.00 3.10 9.00 -13.20 1975 - 2021 percent Quarterly
SA


Calendar GMT Actual Previous Consensus TEForecast
2021-02-15 12:00 AM QoQ Final Q4 3.8% 9.0% 2.1%
2021-04-14 12:00 AM QoQ Adv Q1 2.0% 3.8% 1.3%
2021-05-25 12:00 AM QoQ Final Q1 3.1% 3.8% 2.4%
2021-07-14 12:00 AM QoQ Adv Q2 -2.0% 3.1% 2.3%
2021-08-11 12:00 AM QoQ Final Q2
2021-10-14 12:00 AM QoQ Adv Q3
2021-11-25 12:00 AM QoQ Final Q3


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.