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 January of 2023.

Full Year GDP Growth in Singapore is expected to reach 2.30 percent by the end of 2023, 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 2.50 percent in 2024 and 2.40 percent in 2025, according to our econometric models.

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Singapore Full Year GDP Growth

Related Last Previous Unit Reference
GDP Growth Rate 0.20 1.10 percent Dec 2022
GDP Annual Growth Rate 2.20 4.20 percent Dec 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.
Actual Previous Highest Lowest Dates Unit Frequency
7.61 -4.14 14.52 -4.14 1961 - 2021 percent Yearly
Constant 2015 prices, NSA