The services industries pulled their weight, with year-on-year growth of 2.1 per cent - compared with 1.8 per cent in the quarter before - with a lift from both information and communications, and business services. Singapore’s GDP growth forecast for 2020 to “-7.0 to -5.0 per cent”, from “-7.0 to -4.0 per cent”. GDP Per Capita in Singapore reached 65,233.0 USD in Dec 2019. In the survey reports that the MAS released in March and in June, they revised downward Singapore's estimated GDP growth for 2020 from 1.5 percent to 0.6 percent and from 0.6 percent to -5.8 percent, respectively. But Dr Chua and Ms Lee said that it's likely this will be cut by half a percentage point, as the year wears on. Economic Performance in Second Quarter 2020 Please check your download folder. "Indeed, investment is where we forecast a stronger contribution to growth," she told BT, adding that she expects investments to be sustained by both collective-sale redevelopments and ongoing public works. Subscribe to t.me/BizTimes. GDP growth (annual %) - Singapore from The World Bank: Data Real GDP Growth YoY data in Singapore is updated quarterly, available from Mar 1976 to Jun 2020, with an average rate of 7.0 %. It was manufacturing that weighed down the quarter's performance, with a decline of 1.9 per cent - a reversal of the 5.1 per cent growth notched in the previous quarter, and the end of an 11-quarter growth run. Tell us what you think. Singapore gdp … But Dr Chua and Ms Lee said that it's likely this will be cut by half a percentage point, as the year wears on. Irene Cheung, senior strategist for ANZ Research, also expects the private-sector boost to construction to last through the rest of this year. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. We have provided a few examples below that you can copy and paste to your site: Your data export is now complete. By signing up, you agree to our Privacy Policy and Terms and Conditions. premium content on your favourite platforms, Tata unveils share buyback of up to US$2.2b, Johnson says lockdown approach correct despite rising cases, Johnny Nash, who sang 'I can see clearly now', dies at 80, Malaysia to stop funding state airline if lessor talks fail, Caldecott Hill freehold bungalow for sale with S$27m indicative price, Retrenchments hit 4.9 per 1,000 local employees in H1, Terence Loh quits BN Group amid police probe into Novena Global Healthcare, East Coast shophouse home to famous Boon Tong Kee chicken rice put on market, M1, Safra among big retailers with payments disrupted due to Wirecard's exit. Still, Mohamed Faiz Nagutha, Asean economist at Merrill Lynch, believes that the final print could be yet revised upwards, and added in a note that the slump "was primarily due to unfavourable base effects". Vishnu Varathan, head of economics and strategy at Mizuho Bank, also noted that the services industries are heavily dependent on trade and manufacturing - and could still see mortgage and real estate services brought low by the real estate cooling measures. [MUMBAI] Tata Consultancy Services announced a share buyback of as much as US$2.2 billion after posting worse than... [LONDON] British Prime Minister Boris Johnson insisted on Wednesday that his government's approach to controlling... [HOUSTON] Johnny Nash, a singer whose I can see clearly now reached No 1 on the Billboard charts in 1972,... [SINGAPORE] The parent of Malaysia Airlines has warned leasing companies that state fund Khazanah will stop funding... [TENNESSEE] Ruby Tuesday, the struggling casual restaurant chain, filed for bankruptcy Wednesday, just three years... © 2020 SINGAPORE PRESS HOLDINGS LTD. REGN NO. Its expansion of 1.4 per cent, which has topped off a gradual recovery, was attributed to an improvement in private-sector construction activities. Hello, your email is unverified. Its GDP deflator (implicit price deflator) fell 5.7 % in Jun 2020.

Its Gross Savings Rate was measured at 46.1 % in Dec 2019. The Statistical Best Practices (SBP) 2020 handbook provides the best practices on statistical processes to improve the quality of data produced across the whole-of-government (WOG) in Singapore, particularly among the Research and Statistical Units (RSUs) gazetted under the Statistics Act, so as to instil trust and confidence in the data among the public and policy-makers. For 2020, MTI has downgraded the GDP growth forecast to “-0.5 to 1.5 per cent”, with growth expected to come in at around 0.5 per cent, the mid-point of the forecast range. There is no data available for your selected dates. For daily updates on weekdays and specially selected content for the weekend. Singapore gdp for 2018 was …

RESEND The advance estimates, based on January and February data, show a slowdown from the 1.9 per cent growth in the final quarter of 2018. Please confirm for access to all your SPH accounts. If you use our datasets on your site or blog, we ask that you provide attribution via a link back to this page. He wrote that "the economy has reached the bottom of the current growth cycle", and pinned his hopes to a policy stimulus in China and stable monetary policy worldwide, which would fan a pick-up.

But doubts about the economy still linger beyond the manufacturing decline, with Ms Ling from OCBC arguing that "the question remains if global green shoots will take root and sprout" in the second half of the year. Published by H. Plecher, May 26, 2020 Singapore posted a gross domestic product (GDP) growth rate of 3.44 percent in 2018, after adjusting for inflation. The Ministry of Trade and Industry (MTI) today narrowed Singapore’s GDP growth forecast for 2020 to “-7.0 to -5.0 per cent”, from “-7.0 to -4.0 per cent”. Please check your download folder. On an annual basis, Singapore's economy shrank 13.2% in the second quarter of 2020, after a preliminary 12.6% decline in the prior period and compared to a 0.3 percent decline in the previous quarter, GDP Growth Rate in Singapore averaged 6.22 percent from 1975 until 2020, reaching an all time high of 27.20 percent in the second quarter of 2010 and a record … DBS's Mr Seah was cheerier. DBS senior economist Irvin Seah, citing the quarterly pick-up, added that "the economy is far from a recession". The Government's official full-year forecast is for GDP growth of between 1.5 per cent and 3.5 per cent for 2019, leaning towards "slightly below the mid-point" of that range. Singapore GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on October of 2020. source: Statistics Singapore GDP Annual Growth Rate in Singapore is expected to be -3.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. For a few countries where the official exchange rate does not reflect the rate effectively … Economic Performance in Second Quarter 2020 The Singapore economy contracted by 13.2 per cent on a year-on-year basis in the "Besides a weaker global outlook, the sub-par headline growth figure is also partly due to the high base effect in the manufacturing sector in particular, as well as the lag effect of the trade war associated with the risk-adverse behaviour of manufacturers," he wrote in a note. Economist Tan Khay Boon, senior lecturer at SIM Global Education, noted that "the weight of the construction sector is light", relative to other sectors. On top of that, the construction sector has returned to growth mode, after a downward jag lasting 10 straight quarters. After all, on a quarter-on-quarter and seasonally adjusted basis, the economy grew by 2 per cent - faster than the previous quarter's 1.4 per cent. The Gross Domestic Product (GDP) in Singapore contracted 13.2 % YoY in Jun 2020, following a negative growth of 0.3 % in the previous quarter. If you use our chart images on your site or blog, we ask that you provide attribution via a link back to this page. The data reached an all-time high of 18.6 % in Jun 2010 and a record low of -13.2 % in Jun 2020. Clouds on horizon prompt economists to ask: Is the worst yet to come? The Ministry of Trade and Industry provides Real GDP Growth at chain linked 2015 prices.In the latest reports, Nominal GDP of Singapore reached 73.9 USD bn in Jun 2020. Data are in current U.S. dollars. 17 February 2020.The Ministry of Trade and Industry (MTI) announced today that the Singapore economy grew by 0.7 per cent in 2019. The data reached an all-time high of 18.6 % in Jun 2010 and a record low of -13.2 % in Jun 2020. 11 August 2020. GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. The Government's official full-year forecast is for GDP growth of between 1.5 per cent and 3.5 per cent for 2019, leaning towards "slightly below the mid-point" of that range. "Moreover, the interest rate is likely to remain stable in the near future, which helps to sustain demand for houses, and this will keep the construction sector going," he told BT in an e-mail. Year-on-year GDP growth for the OECD area was minus 10.9% in the second quarter of 2020, following growth of minus 0.9% in the previous quarter. Among the Major Seven economies, the United States recorded an annual growth of minus 9.5%, while the United Kingdom recorded the sharpest annual fall … Singapore clocked year-on-year gross domestic product (GDP) growth of 1.3 per cent, just shy of private-sector estimates, the Ministry of Trade and Industry (MTI) said in a flash release on Friday morning. Still, positive contributions from services and builders soothed some of the sting from Singapore's factories, which have been battered by the cooling electronics cycle, a slump in the Chinese economy, and the trade war between the United States and China. The Gross Domestic Product (GDP) in Singapore contracted 13.2 % YoY in Jun 2020, following a negative growth of 0.3 % in the previous quarter. For a few countries where the official exchange rate does not reflect the rate effectively applied to actual foreign exchange transactions, an alternative conversion factor is used.

And economists Chua Hak Bin and Lee Ju Ye, of Maybank Kim Eng, were bearish in expectations of "a weak manufacturing and trade recovery in the second half", depending on whether a US-China trade deal pans out soon. SINGAPORE'S economy is growing at the slowest clip since the global financial crisis, according to flash data for the first three months of the year. We have provided a few examples below that you can copy and paste to your site: Your image export is now complete. The GDP growth, easing for the fifth straight quarter, also touched a decade low.
But Selena Ling, head of treasury research and strategy at OCBC Bank, said that it "may be too early to call a bottom for the domestic manufacturing and electronics industries" until the US sorts out its trade and tariff plans for China, Japan and Europe. Real GDP Growth YoY data in Singapore is updated quarterly, available from Mar 1976 to Jun 2020, with an average rate of 7.0 %. VERIFICATION EMAIL. Dollar figures for GDP are converted from domestic currencies using single year official exchange rates. Watchers did not miss that last July's snap property cooling measures could eventually put a crimp in construction's rebound - "but that's probably a story for 2020", Mr Nagutha said in an e-mail to The Business Times. "Until we see a clear bottom and subsequent improvement in the China and global growth prospects, the overall picture for the Singapore economy remains cautious," she wrote in a morning note. 198402668E. The most complete set of 5.5 million time series covering more than 200 economies, compiled from 1500 sources worldwide, Unlimited access tailored to your data needs, Instant access to full history data in excel. It follows a 4.7% contraction in the March quarter.

Singapore gdp growth rate for 2019 was 0.73%, a 2.7% decline from 2018. Forecast: GDP PPP Per Capita (PPP Intl $), Total Trade of Goods & Services: % of Nominal GDP (%), Gross Domestic Product: Market Price (SGD mn), GDP: Private Consumption Expenditure (SGD mn), GDP: Government Consumption Expenditure (SGD mn), GDP: Gross Fixed Capital Formation (SGD mn), GDP: Net Exports of Goods and Services (SGD mn), GDP: Exports of Goods & Services (SGD mn), GDP: Imports of Goods & Services (SGD mn), GDP: Gross Value Added at Basic Prices (SGD mn), GDP: SPI: Accommodation & Food Services (SGD mn), GDP: SPI: Information & Communications (SGD mn), GDP: SPI: Other Services Industries (SGD mn), GDP: SPI: Wholesale & Retail Trade (SGD mn), GDP: SPI: Transportation & Storage (SGD mn), GDP: sa: SPI: Wholesale & Retail Trade (SGD mn), GDP: sa: SPI: Transportation & Storage (SGD mn), GDP: sa: SPI: Accommodation & Food Services (SGD mn), GDP: sa: SPI: Information & Communications (SGD mn), GDP: sa: SPI: Finance & Insurance (SGD mn), GDP: sa: SPI: Other Services Industries (SGD 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Residential: No of Units (Unit), Bldg Completed: Gross Floor Area: Warehouse Space (sq m th), Bldg Completed: Gross Floor Area: Office Space (sq m th), Bldg Completed: Gross Floor Area: Shop Space (sq m th), Bldg Completed: Gross Floor Area: Factory Space (sq m th), Consolidated Fiscal Balance: % of GDP (%), Forecast: Government Expenditure (SGD bn), Govt Finance: Cash Surplus / Deficit (SGD mn), Govt Revenue: Tax: Goods and Services Tax (SGD mn), Revenue: Customs and Excise: Import and Excise Duties (IE) (SGD mn), Govt Expenditure: Operating: Total (SGD mn), Avg Mthly Earnings: SSIC 2010: Overall Economy (SGD), Labour Force: Resident: Female (Person th), Motor Vehicle Sales: Commercial Cars (Unit), Motor Vehicle Sales: Passenger Cars (Unit), Retail Sales Value: 2017=100: SSIC 2015 (SGD mn), CPI: Food and Non Alcoholic Beverage Change (%), Forecast: Consumer Price Index Growth (%), Property Price Index: Private Residential (PR): All (1Q2009=100), CPI: Recreation & Culture (R&C) (2019=100), CPI: Food excluding Food Servicing Services (FFSS) (2019=100), CPI: Household Durables & Services (HD&S) (2019=100), CPI: sa: Household Durables & Services (HD&S) (2019=100), Exports: Medicinal and Pharmaceutical Product (USD th), Imports: Medicinal and Pharmaceutical Product (USD th), Exports: Machinery and Transport Equipment (MT) (SGD mn), Imports: Machinery and Transport Equipment (MT) (SGD mn), Exports: Chemicals and Chemical Products (CH) (SGD mn), Foreign Portfolio Investment: % of GDP (%), Net International Investment Position (USD mn), Forecast: Current Account Balance (USD bn), BoP: CA: Primary Income Balance: Payment (SGD mn), BoP: Financial Account (FA): Net (SGD mn), BoP: FA: Direct Investment: Liabilities (SGD mn), BoP: Current Account (CA) Balance (SGD mn), BoP: CA: Primary Income Balance: Receipts (SGD mn), BoP: CA: Secondary Income Balance (SGD mn), BoP: FA: Direct Investment: Assets (SGD mn), BoP: FA: Portfolio Inv: Liabilities (SGD mn), BoP: FA: Financial Derivatives: Assets (SGD mn), BoP: FA: Financial Derivatives: Liabilities (SGD mn), BoP: Official Reserves (OR): Net (SGD mn), BoP: FA: PI: Liabilities: Equity & Investment Fund Shares (SGD mn), BoP: FA: PI: Liabilities: Debt Securities (SGD mn), International Investment Position (IIP) (SGD mn), External Debt: Gross: OL: DTC: Short Term (SGD mn), External Debt: Gross: OL: DTC: Long Term (SGD mn), External Debt: Gross: OL: OS: Short Term (SGD mn), External Debt: Gross: OL: OS: Long Term (SGD mn), FDI: By Industry: Financial & Insurance Services (SGD mn), FDI: By Industry: Professinal, Administrative & Support Services (SGD mn), FDI: By Industry: Wholesale & Retail Trade (SGD mn), Foreign Direct Investment (FDI): Total (SGD mn), Business Entities (BE): Formation: Total (Number), Foreign Exchange Reserves: Months of Import (NA), Credit to Private Non-Financial Sector (USD bn), Domestic Banking Units (DBUs): Money Supply M1 (SGD mn), Domestic Banking Units (DBUs): Monetary Survey: Domestic Credit (SGD mn), ORA: Gold Incl Gold Deposits and Gold Swapped (USD mn), ORA: Foreign Currency Reserves in Convertible FC (FCR) (USD mn), DBU: Loans & Advances: Total, Including Bills Financing (SGD mn), DBU: Loans & Advances: LB: Professional & Private Individuals (SGD mn), DBU: Loans & Advances: Consumer Loans (CL) (SGD mn), DBU: Loans & Advances: CL: Housing & Bridging Loans (SGD mn), DBU: Loans & Advances: Loans to Businesses (LB) (SGD mn), Domestic Banking Units (DBUs): Deposits (SGD mn), Prime Lending Rate: Ten Leading Banks Average (% pa), Forex: Monthly Avg: Singapore Dollars to Euro (SGD/EUR), Forex: Singapore Dollars to Euro (SGD/EUR), Forex: US Dollar Exchange Rate: Month End (SGD/USD), Business Confidence: Net Balance (% Point), Purchasing Manager Index: Manufacturing (Mfg) (%), Composite Leading Index: 2015=100 (2015=100), BE: Next 6M: Business Services Excl Real Estate (%), Liner Shipping Connectivity Index (2004=100), Exports: Telecommunication Equipment (USD th), Imports: Telecommunication Equipment (USD th), Motor Vehicle: New Registration: Cars (Unit), Motor Vehicle: New Registration: Motorcycles & Scooters (Unit), Motor Vehicle: New Registration: Goods Vehicles: Total (Unit), Motor Vehicle: New Registration: Buses: Total (Unit), Changi Airport: Passenger Movements (Person), Changi Airport: Air Freight Movements (Ton), Contribution to Growth in GDP: by Industry, GDP by Expenditure: 1995 Price: Seasonally Adjusted, GDP by Expenditure: 2000 Price: Seasonally Adjusted, GDP by Expenditure: 2005 Price: Seasonally Adjusted, GDP by Expenditure: 2010 Price: Seasonally Adjusted, GDP by Expenditure: Current Price (Annual), GDP by Income: SSIC 2015: Current Price (Annual), GDP by Industry: SSIC 2000: 1995 Price (Annual), GDP by Industry: SSIC 2000: 1995 Price: Seasonally Adjusted, GDP by Industry: SSIC 2005: 2000 Price: Seasonally Adjusted, GDP by Industry: SSIC 2010: 2005 Price: Seasonally Adjusted, Gross Domestic Product: Annual Growth Rate, Gross Domestic Product: by Expenditure: Annual, Gross Domestic Product: by Expenditure: Quarterly, Gross Domestic Product: Deflator and Volume Index: Annual, Gross Domestic Product: Purchasing Power Parity, Gross Fixed Capital Formation: 1995 Price (Annual), Gross Fixed Capital Formation: 2000 Price (Annual), Gross Fixed Capital Formation: 2005 Price (Annual), Gross Fixed Capital Formation: 2010 Price, Gross Fixed Capital Formation: 2010 Price (Annual), Gross Fixed Capital Formation: 2010 Price: sa, Gross Fixed Capital Formation: Current Price (Annual), Share of Nominal Gross Value Added by Industry.

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