In 2018, the growth rate for the world GDP was 3.6%. According to consultancy EY, an overwhelming nine out 10 companies in Singapore do not have a plan to cope with GDPR. ... 3 Q 2018 prelim. GDP Growth Rate in 2017 was 3.62%, representing a change of 10,825,595,893 US$ over 2016, when Real GDP was $299,170,077,008. On February 19, Singapore announced its budget allocations for 2018. The indicator growth can have a positive effect on the Singapore dollar quotes. Singapore’s GDP grew 4.1% on average between 2011 and 2013. Key Quotes “This year, using a similar quarterly profile to that seen in 2018, would deliver a … Top five countries to which Singapore exported in 2018 are below, along with the percent of total exports that went to that country:. Total spending by the ministries should clock S$80 billion in FY18, or 8.3 per cent more year on year, mainly on the back of increased spending in transport, trade and industry and domestic security. Singapore’s GDP growth slowed to 3.2% for the whole of 2018 from 3.9% in 2017 as the manufacturing sector took a beating from the protracted trade dispute, according to data from the Ministry of Trade and Industry. February 17, 2021. Singapore Economic News. COVID-19 Read more. The latest value from is percent. Explore all the figures for revenue and expenditure estimates with these interactive graphics. ; Singapore exports to Hong Kong, China worth US$ 48,666 million, with a … Nominal GDP vs. PPP GDP The average value for Singapore during that period was 1.1 percent with a minimum of 0.03 percent in 2011 and a maximum of 3.7 percent in 1960. By 2023, IMF forecasts Singapore GDP to reach $435 billion and Malaysia GDP to reach $498 billion. This statistic shows the distribution of the gross domestic product (GDP) across economic sectors in Singapore from 2009 to 2019. (212) 419-8286 Singapore Gross Domestic Product (GDP) q/q reflects the monetary value of all goods and services produced in Singapore during a given quarter compared to the previous one. Singapore - GDP per capita GDP per capita (current US$) The latest value for GDP per capita (current US$) in Singapore was $64,581.95 as of 2018. Singapore gdp growth rate for 2018 was 3.44%, a 0.9% decline from 2017. Singapore’s economic freedom score is 89.4, making it the world’s freest economy in the 2020 Index. The Singapore dollar was trading near S$1.31 per U.S. dollar on Wednesday, having gained 2 percent so far in 2018. Gross Domestic Product In Chained (2015) Dollars, By Industry (SSIC 2015 Version 2018), Quarterly, (SA) Ministry of Trade and Industry - Department of Statistics / 11 Jan 2021 The aggregate value of of goods and services produced in the economic territory of Singapore expressed in chained (2015) dollars and seasonally adjusted. Singapore gdp growth rate for 2016 was 3.24%, a 0.26% increase from 2015. Singapore. Heading into the final weeks of 2017, the latest headlines in Singapore’s mainstream media have been generally positive. World Bank national accounts data, and OECD National Accounts data files. 3.9% 3.8% 2 Q 2018 prelim. Download Historical Data Save as Image. Singapore economy to grow by 4-6% this year; 2020 contraction shaved to 5.4% Feb 15, 2021, 8:07 am Malaysia’s GDP shrinks 5.6% in 2020, worst performance since 1998 The absolute value of GDP in Singapore rose €16,246 $1,133 million with respect to 2018. Singapore: Revised estimate reveals GDP contracted less than initially expected in Q4. In 2020, GDP per capita for Singapore was 58,484 US dollars. Singapore is expected to experience an economic slowdown in 2019, with GDP growth slowing to 1.9% from 3.1% in 2018, due to tariff hikes from the United States and China. In 2018, health expenditure as a share of GDP for Singapore was 4.5 %. Quarterly GDP Growth. FILE PHOTO: Container cranes are pictured at the port of Singapore, June 10, 2018. This is a worrying statistic considering that Singapore is the EU’s largest trading partner in ASEAN. Unveiling the Budget for 2018, Mr Heng said the government expects to spend more on healthcare. Health expenditure as a share of GDP of Singapore increased from 3.2 % in 2004 to 4.5 % in 2018 growing at an average annual rate of 2.67%. Singapore GDP ends 2018 on a weaker note Annualized growth of 1.6%QoQ in the final quarter of 2018 means full-year GDP growth should reach 3.2%YoY, though 2019 GDP more likely to end in a 2.5-3.0% range. Singapore, 13 February 2019 – 2018 marked another strong year for Singapore's tourism sector, with both tourism receipts and visitor arrivals achieving new highs.The core tourism industries of BTMICE[1], Hotels, and Cruise also posted strong results. Data Source: World Bank Though the focus was predominantly on domestic items such as an impending tax … As of 2017 Singapore GDP sits at $323.907 Billion. 3.8% 4.3% 1 Q 2018. In Q4, the economy grew by 1.9% which represents a slowdown from 2.4% expansion in the previous quarter. Singapore exports to China worth US$ 50,396 million, with a partner share of 12.24 percent. Indicator values are not seasonally adjusted. Try our corporate solution for free! Since then, the economy has been on a sustainable growth track. GDP per capita is gross domestic product divided by midyear population. Singapore Gross Domestic Product (GDP) y/y reflects the monetary value of all goods and services produced in Singapore during a given quarter compared to the same quarter of the previous year. SINGAPORE - Singapore is expected to experience the sharpest economic slowdown in South-east Asia, with gross domestic product (GDP) growth slowing from 3.1 per cent in 2018 … Definition: GDP per capita is gross domestic product divided by midyear population. 2.6% 4.1% 2 Q 2018. Singapore: Non-oil exports rise at fastest pace in seven months in January. Singapore’s economy plummeted 0.6% in 2008; however, it managed to recover in 2010 and grew an impressive 15.2%. Singapore: Value added in the agricultural sector as percent of GDP: For that indicator, we provide data for Singapore from 1960 to 2019. Singapore gdp growth rate for 2017 was 4.34%, a 1.09% increase from 2016. GDP per Capita in Singapore (with a population of 5,708,041 people) was $54,309 in 2017, an increase of $1,392 from $52,916 in 2016; this represents a change of 2.6% in GDP … Singapore GDP is at a current level of 364.16B, up from 338.41B one year ago. SINGAPORE will put aside some S$10.2 billion for healthcare expenditure, S$20 billion for infrastructure and S$12.8 billion for education this year, Finance Minister Heng Swee Keat said on Monday. Gross Domestic Product of Singapore grew 0.7% in 2019 compared to last year. Their GDP have been growing at a similar pace over the last four decades. As per World Bank estimates, the nominal world GDP in 2017 was $80,683.79 billion. A SMALL overall budget deficit of S$0.6 billion, or 0.1 per cent of GDP, is expected for FY18 while expenditure is expected to rise. Indicator values are seasonally adjusted. The GDP figure in 2019 was €332,330 $372,066 million, Singapore is number 34 in the ranking of GDP of the 196 countries that we publish. In 2018, the nominal world GDP was $84,835.46 billion in 2018, and it’s projected to be $88,081.13 billion in 2019. Over the past 58 years, the value for this indicator has fluctuated between $64,581.95 in 2018 and $428.06 in 1960. READ: Singapore's total trade rises 9.2% in 2018 to S$1.1 trillion For the final three months of 2018, the economy expanded by 1.9 per cent from a year earlier. Total health expenditure is the sum of public and private health expenditure. In 2016, the existing foreign direct investment stock between the EU and Singapore amounted to … REUTERS/Feline Lim/File Photo. For comparison, the world average in based on countries is 0.00 percent. During 1980, Singapore GDP was $12 billion and Malaysia GDP was $26 billion. GDP (current US$) - Singapore. Robert Carnell, chief economist at ING, explains that in what was a remarkably steady year for Singapore’s economic growth, final quarter of GDP growth printed a figure of 1.6% QoQ. GDP per capita of Singapore increased from 21,700 US dollars in 2001 to 58,484 US dollars in 2020 growing at an average annual rate of 5.65%. In 2018, IMF estimates Singapore GDP to be $347 billion and Malaysia GDP to be the same. This rate is 27 -tenths of one percent less than the figure of 3.4% published in 2018. Non-oil domestic exports (NODX) jumped 12.8% over the same month last year in January (December: +6.8% year-on-year). This is a change of 7.61% from one year ago. The nation’s central bank, the Monetary Authority of Singapore, tightened policy twice in 2018, and is due to release its next policy statement in April.