Name: Singapore Full Year GDP Growth
Creator: TRADING ECONOMICS
License: https://creativecommons.org/licenses/by/4.0/

Singapore’s economy expanded 7.6 percent in 2021, rebounding from a 4.1 percent contraction in 2020. For 2022, the government forecast growth to come in at 3%-5%. source: Statistics Singapore

Full Year GDP Growth in Singapore averaged 7.05 percent from 1961 until 2021, reaching an all time high of 14.52 percent in 2010 and a record low of -4.14 percent in 2020. This page includes a chart with historical data for Singapore Full Year GDP Growth. Singapore Full Year GDP Growth - values, historical data and charts - was last updated on October of 2022.

Full Year GDP Growth in Singapore is expected to reach 3.90 percent by the end of 2022, according to Trading Economics global macro models and analysts expectations. In the long-term, the Singapore Full Year GDP Growth is projected to trend around 2.70 percent in 2023 and 2.50 percent in 2024, according to our econometric models.

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Related	Last	Previous	Unit	Reference
GDP Growth Rate	-0.20	0.80	percent	Jun 2022
GDP Annual Growth Rate	4.40	3.80	percent	Jun 2022
GDP	396.99	345.30	USD Billion	Dec 2021

Singapore Full Year GDP Growth

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.