SINGAPORE — Singapore's economy grew at its fastest pace in more than a year in the first quarter of 2021, helped by a stronger-than-expected manufacturing sector, official data showed Tuesday. The country provides one of the world’s most business-friendly regulatory environment for local entrepreneurs and is ranked among the world’s most competitive economies.. Malaysia. Singapore’s education system is in sync with the job market and stays current to ensure relevance to the local economy. Investment for Singapore from International Monetary Fund (IMF) for the International Financial Statistics (IFS) release. Overview In 2020 Singapore was the number 36 economy in the world in terms of GDP (current US$), the number 19 in total exports, the number 17 in total imports, the number 10 economy in terms of GDP per capita (current US$) and the number 6 most complex economy according to the Economic Complexity Index (ECI).. Exports The top exports of Singapore are Integrated … This page provides - Singapore GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. The GDP (gross domestic product) in Singapore is forecast to amount to US$448.79bn in 2025. In this paper, we have comparatively investigated the forecasting performance of the three models, i.e., the MIDAS regression model, the direct regression model on high frequency data and the time-averaging regression model, by using data from the Singapore economy. Economic Survey of Singapore 2020 Chapter 1 Economic Performance 08 For the whole of 2021, the Singapore economy expanded by 7.6 per cent, rebounding from the 4.1 per cent contraction in 2020. As such, it has little influence on, and high exposure to, international trends. Singapore's economy grew 7.1% in the third quarter compared with a year ago, better than the official advance estimate of 6.5% growth, … Singapore economic growth for 2020 was $340.00B, a 9.19% decline from 2019. source: Statistics Singapore. Singapore Trade Statistics. GDP estimates are compiled by the output, expenditure and income approaches. Singapore is a high-income economy with a gross national income of US$54,530 per capita, as of 2017. What makes Hawksford a trusted provider?10+ Years experience in SingaporeUnrivalled cloud technology and infrastructure1000+ businesses successfully incorporated in Singapore100% Singapore based specialists Article IV/Country Report: July 16, 2021. Statistics on national accounts, compiled by the Singapore Department of Statistics, provide up-to-date performance indicators for the Singapore economy. We will go through the key takeaways from the report in this article. The Economic Outlook for Southeast Asia, China and India is a regular publication on regional economic growth and development in Emerging Asia. : compare key data on. The Human Capital Index (HCI) database provides data at the country level for each of the components of the Human Capital Index as well as for the overall index, disaggregated by gender. Line Bar Map. GDP Growth Rate in Singapore averaged 1.53 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. Singapore gdp growth rate for 2020 was -5.39%, a 6.74% decline from 2019. That compared with the … Nov 1, 2021. On a As of 2020, Singapore’s international non-resident population made up around a third of its total population. Leading Economic Index Singapore increased to 112.90 in December of 2021 over the same month in the previous year. Access statistical data series from 60 public sector agencies via the SingStat Table Builder for a comprehensive statistical view of Singapore's economic and socio-demographic characteristics, and build customised data tables, export these in different file formats or utilise the APIs for ease of data retrieval. ; Singapore recorded its highest ever number of visitor arrivals (19.12 million) in 2019, before the pandemic hit. Publications The list of publications available are posted here. Undoubtedly, the report has shown the importance of SMEs to the growth of the Singapore economy. Economy - overview: Singapore is blessed with a highly developed and successful free-market economy, a remarkably open and corruption-free business environment, stable prices, and the fifth highest per capita GDP in the world. The country provides one of the world’s most business-friendly regulatory environments for local entrepreneurs and is ranked among the world’s most competitive economies. GDP in Singapore averaged 95.19 USD Billion from 1960 until 2020, reaching an all time high of 373.22 USD Billion in 2018 and a record low of 0.70 USD Billion in 1960. A model was used to estimate migrants for countries that had no data. Submitted by Anonymous (not verified) on Thu, 04/30/2015 - 14:58. Singapore's economic system is that of a greatly developed and successful free-market economy. There is hardly any corruption with its open trading system. Prices are stable, with a GDP per capita that is higher than a majority of developed countries. The Singapore Department of Statistics recently released its 2020 Singapore SMEs statistics. Population Growth Rate. 2022 Projected Real GDP (% Change) : 3.2. Singapore Economic News. Since the nations independence in 1965 Singapore GDP has amassed an average of a 9.5% increase. Get more information about SINGAPORE ECONOMIC DATA at straitstimes.com. Bank deposits held for a fixed term in Singapore are called time deposits and fixed deposits. Visitor arrivals fell by 85.7% in 2020 to just 2.7 million visitors and most of those arrived in the first 2 months of the year - before border closures began. Agencies involved in economic statistics: Singapore Department of Statistics Accountant-General’s Department Accounting and Corporate Regulatory Authority Building and Construction Authority Economic Development Board International … expects Singapore’s GDP growth for 2019 to come in at “1.5 to 2.5 per cent”. Tourism is found to be a major contributor to the Singaporean economy magnetizing more than 17 million visitors in 2017 (Singapore board statistics). SSIC 2015 has 22 sections (numbered A to V), but labor data are typically reported as 10 industry branches which include single sections and aggregates. Budget > Revenues : Revenues calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms. Singapore economic growth for 2018 was $375.98B, a 9.51% increase from 2017. Special Drawing Rights … Projections by IMF. The Department of Statistics (DOS) will continue to make available the data for the broader sectors for downloading on DOS’ website (www.singstat.gov.sg). 34.504 % of working-age population (2020) Urban Population. Singapore gdp growth rate for 2017 was 4.52%, a 1.19% increase from 2016. [60] The economy picked up in 1999 under Goh Chok Tong , the Prime Minister of Singapore, after the regional financial crisis, with a growth rate of 5.4%, followed by 9.9% for 2000. As such, Singapore, with a population of 5.9 million, has been the choice destination for around 50,000 foreign students from around the world. Economy Stats. Economic Performance in Fourth Quarter 20201 The Singapore economy contracted by 2.4 per cent on a year-on-year basis in the fourth quarter, an improvement from the 5.8 per cent contraction in the preceding Investment for Singapore from International Monetary Fund (IMF) for the International Financial Statistics (IFS) release. This page provides forecast and historical data, charts, statistics, news and updates for Singapore Investment. This text provides general information. Date of Membership: August 3, 1966. They highlight information from the World Bank data from 2016 on the population, wealth and economy of Singapore compared with other ASEAN countries and some major global markets and … Default Term Listing Page. Economic Survey of Singapore Second Quarter 2020. Latest News. In 2020, the manufacturing sector contributed 21.5 percent to Singapore's nominal gross domestic product (GDP). At a Glance. License : CC BY-4.0. The real total GDP (gross domestic product) in … Download Historical Data. Singapore had a total export of 390,331,757.37 in thousands of US$ and total imports of 358,974,637.22 in thousands of US$ leading to a positive trade balance of 31,357,120.16 in thousands of US$ The Effectively Applied Tariff Weighted Average (customs duty) for Singapore is 0.39% and the Most Favored Nation (MFN) Weighted Average tariff is 1.44%.The trade … the Singapore economy contracted by 5.4 per cent in 2020. Singapore At-A-Glance. Singapore economic growth for 2017 was $343.34B, a 7.71% increase from 2016. … The data are provisional when first released, and this status is indicated in the quarterly and annual Economic Survey of Singapore (QES/AES). For 2021, MTI has maintained the GDP growth forecast at “4.0 to 6.0 per cent”. According to the World Travel and Tourism Council (WTTC), Singapore revenue from tourism supports 1,64,000 jobs that also interpose a 4 % growth of gross domestic product (GDP). And when we look at our own national data from 2001 to 2021, the cost of healthcare increased by 54.8% and the average healthcare inflation rate was 2.21%. 14 OCT 2020. For 2021, MTI has maintained the GDP growth forecast at “4.0 to 6.0 per cent”. Exports in Singapore increased to 58661.39 Million SGD in February from 56546.90 Million SGD in January of 2022. source: Statistics Singapore. Similarly, the economic statistics platform Trading Economics estimated that self-employed persons comprised 14.02% of Singapore’s total employment population in 2020. Support Services. 2.1 per 1,000 live births (2019) Life Expectancy at Birth. Singapore gdp growth rate for 2018 was 3.50%, a 1.02% decline from 2017. Units. Read more at straitstimes.com. Economy. Singapore - was last updated on Monday, April 4, 2022. Budget surplus > + or deficit > - : This entry records the difference between national government revenues and expenditures, expressed as a percent of GDP. Singapore's economic strategy produced real growth averaging 8.0% from 1960 to 1999. Singapore immigration statistics for 2015 was 2,543,638.00, a 17.5% increase from 2010. Singapore is one of only three current city-states in the world, Monaco and Vatican City being the other two. 2022 Projected Consumer Prices (% Change): 1.5. The economy contracted 0.6% in 2009 as a result of the global financial crisis, but has continued to grow since 2010. The press release of ESS is available on the website of Ministry of Trade and Industry, the Singapore Department of Statistics and the Singapore Press Centre. : compare key data on. Economy Stats. Singapore is a small, open economy. Singapore - Market OverviewSingapore - Market Overview Discusses key economic indicators and trade statistics, which countries are dominant in the market, the U.S. market share, the political situation if relevant, the top reasons why U.S. companies should consider exporting to this country, and other issues that affect trade, e.g., terrorism, currency devaluations, trade … GDP growth (annual %) - Singapore. 100 % of total (2020) Infant Mortality Rate. Quarterly and annual data for earlier years are revised at the time of publication of the annual Economic Survey of Singapore (AES). Singapore gdp growth rate for 2019 was 1.35%, a 2.15% decline from 2018. The manufacturing sector grew by 13.2 per cent, accelerating from the 7.5 per cent growth in 2020. Singapore is digitalising its economy from a position of strength. Singapore's National Statistical Office that collects, compiles and disseminates economic and socio-demographic statistics. United States. 26 MAY 2020. Close to 70% of nominal value added was generated by the services industries, while about 25% was generated by the goods producing industries. the Singapore economy contracted by 5.4 per cent in 2020. Planners restrict the size of buildings in Singapore to a maximum height of 280 meters. At the time of its independence, Singapore's economy was one of the lowest ranked in the world having GDP per of $516. Although the global shortage of semiconductors is expected to extend well into 2022, powering Singapore’s key electronics sector, the outlook for tourism-related services is murkier. Last Updated: January, 2022. Average Retail Prices Of Selected Consumer Items, Annual Ministry of Trade and Industry - Department of Statistics / 07 Apr 2022 Average prices compiled are based on monthly retail prices of selected goods and services collected from a wide range of retailers and service providers commonly patronised by resident households. This page provides the latest reported value for - Singapore GDP - plus previous releases, historical high and low, short … source: World Bank. FRED: Download, graph, and track economic data. Singapore's economy is expected to remain strong with reasonable, but not extremely high growth rates predicted in the future. The GDP, GDP Per Capita, GNI Per Capita, Total Trade, Total Imports, Total Exports, Foreign Reserves, Current Account Balance, Average Exchange Rate, Operating Revenue and Total Expenditure are mentioned in the table below for years 1965 through 2018. In the decades after independence, Singapore rapidly developed from a low … Singapore: Inflation hits nine-year high in February. 15 FEB 2021. Singapore is a high-income economy with a gross national income of US$54,530 per capita, as of 2017. 673. Singapore Indicators - was last updated on Wednesday, March 23, 2022. Singapore's open data portal. The offical estimate for Singapore's GDP was $563 billion at the end of 2021 in puchasing power partity terms. The challenge is how to best use available data in our economic forecast. Singapore is an Asian nation with one of the highest ranked economies in the world. Singapore's economy contracted by 42.9% in the second quarter of 2020 on an annualized, seasonally-adjusted basis compared to the … Latest Data Publications and Methodology Visualising Data Related Info External Sources. Trading Economics provides data for 20 million economic indicators from 196 countries including actual values, consensus figures, forecasts, historical time series and news. To help you easily grasp the dynamics of economics and business in Singapore through a series of infographics, here are 5 visuals on some of the country’s key data. Singapore. In 1985, the Singapore economy went into recession - the only time in our history the domestic economy contracted while the global economy was still growing. The demographics of Singapore include the population statistics of Singapore such as population density, ethnicity, education level, health of the populace, economic status, religious affiliations and other demographic data of the population.. As of June 2021, Singapore's population stood at 5.45 million. Singapore economy shrinks 5.8% in 2020 after contraction eases to 3.8% in Q4: Flash data On a quarter-on-quarter seasonally adjusted basis, the economy grew by 2.1 per cent. GDP per capita of Singapore in nominal and ppp terms. 423 economic data series with tag: Singapore. Singapore. World Bank national accounts data, and OECD National Accounts data files. Feature Articles Additional articles on economics and trade issues, published on an ad-hoc basis, are posted here. Singapore's open data portal. Estimates by world bank since 1960 in nominal terms and since 1990 in ppp terms at current and constant prices. Singapore GDP data quality rating: Grade A - As Good as it Gets and GDP is estimated to be 10.4% bigger than shown in official data when measured at Purchasing Power Parity (PPP) with estimates allowing for Base Year age and Shadow economy size. ST PHOTO: JOEL CHAN Singapore (/ ˈ s ɪ ŋ (ɡ) ə p ɔːr / ()), officially the Republic of Singapore, is a sovereign island city-state in maritime Southeast Asia.It lies about one degree of latitude (137 kilometres or 85 miles) north of the equator, off the southern tip of the Malay Peninsula, bordering the Strait of Malacca to the west, the Riau Islands to the south, and the South China Sea to the east. Exports in Singapore averaged 17191.91 Million SGD from 1964 until 2022, reaching an all time high of 58661.39 Million SGD in February of 2022 and a record low of 197.68 Million SGD in July of 1964. There are three residual categories that may appear, but are not always defined: Other goods, defined in Economic Survey of Singapore (MTI, 2010) as agriculture, fishery and quarrying. 11 AUG 2020. Singapore’s economy is expected to grow between 6% and 7% this year, the trade and industry ministry said. Within the sector, output across all … Singapore immigration statistics for 2005 was 1,710,594.00, a 26.55% increase from 2000. The outlook for Singapore’s economy in 2022 is mixed. GDP Growth Rate in Singapore averaged 1.53 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. Average Retail Prices Of Selected Consumer Items, Annual Ministry of Trade and Industry - Department of Statistics / 07 Apr 2022 Average prices compiled are based on monthly retail prices of selected goods and services collected from a wide range of retailers and service providers commonly patronised by resident households. Trading Economics provides data for 20 million economic indicators from 196 countries including actual values, consensus figures, forecasts, historical time series and news. Growth from 2012-2017 was slower than during the previous decade, a result of slowing structural growth - as Singapore reached high-income levels - and soft global demand for exports. Singapore immigration statistics for 2010 was 2,164,794.00, a 26.55% increase from 2005. Thus, Singapore continues to be an attractive place for immigrants and expats. Its currency is the Singapore Dollar (SGD). Economic Survey of Singapore Third Quarter 2020. This page provides forecast and historical data, charts, statistics, news and updates for Singapore Investment. National accounts, international trade, tourism and manpower. Singapore Economy 2000. In the past 20 years Singapore economy suffered setbacks in 2001/2002 after the Sep 11 WTC terrorist attack, in 2003 due to SARS outbreak, and in 2008 and 2009 due to US financial crisis. &. The economy Resources, agriculture, and fisheries. Singapore has few natural resources. ... Industry. Since the late 1960s Singapore has pursued a general policy of export-oriented industrialization. ... Services and tourism. ... Finance. ... Read: Mauritius praises Bangladesh's socio-economic transformation Bangladesh ... He wished continued good health, peace, prosperity and happiness for his Singapore counterpart and for the friendly people of Singapore. Published by HT Digital Content ... The Economic Outlook for Southeast Asia, China and India is a regular publication on regional economic growth and development in Emerging Asia. . Singapore ranks No. Gross Domestic Product (GDP) refers to the aggregate value of the goods and services produced within the economic territory of Singapore. Latest. March 23, 2022. Despite the size of its economy, Singapore is in the top 20 smallest countries in the world and is 15,000 times smaller than the United States. SINGAPORE ECONOMIC DATA. Singapore’s economic freedom score is 84.4, making its economy the freest in the 2022 Index. Economic Performance in First Quarter 2019 The Singapore economy grew by 1.2 per cent on a year-on-year basis in the first quarter, slightly lower than the 1.3 per cent growth in the previous quarter. Reporting of Quarterly Real GDP Growth Rates. Overview In 2020 Singapore was the number 36 economy in the world in terms of GDP (current US$), the number 19 in total exports, the number 17 in total imports, the number 10 economy in terms of GDP per capita (current US$) and the number 6 most complex economy according to the Economic Complexity Index (ECI).. Exports The top exports of Singapore are Integrated … 1. 17 February 2022 For the final quarter of 2020, the Singapore economy contracted by 2.4 per cent on a year-on-year basis, an improvement from the 5.8 per cent contraction in the preceding quarter. HS Code Import USD$ (85) Electrical Machinery: $98,117,896,419 (27) Oil & Mineral Fuels 23 NOV 2020. The Economic Survey for the fourth quarter contains GDP data for the reference year. Singapore suffered a deeper recession in the second quarter than earlier estimated due to the coronavirus-induced economic slump at home and abroad, MTI said. To guide the collective way forward in the digital economy, Singapore’s framework for action focuses on three pillars of growth. This article contains economic statistics of the country Singapore. A half-yearly-ahead advance release calendar is published on the Statistics Singapore website. Economic Survey of Singapore 2020. Singapore. Websites containing Singapore Economic Statistics Census of Population. &. The data for Economic Indicators dashboard below is up to First Quarter of 2021. Country Population: 5.743 million. Of its total population of 5.45 million in 2021, 4 million are … Latest available data from April 2021. -0.312 annual % (2020) Age Dependency Ratio. World Economics estimates Singapore's GDP to be $621 billion - … Budget surplus > + or deficit > - : This entry records the difference between national government revenues and expenditures, expressed as a percent of GDP. 14 overall in the U.S. News Best Countries ranking. Provides a comprehensive overview of the characteristics and changes in the Singapore population and households. The Singapore economy with a population of 5.076 Million (Est 2010) ranks 45th in the world with a GDP PPP of 238 billion and GDP PPP per capita of 50,180 vs 45,934 (United States) according to the IMF in 2009. The economy depends heavily on exports, particularly of electronics, petroleum products, chemicals, medical and optical devices, pharmaceuticals, and on Singapore’s vibrant transportation, business, and financial services sectors. World Economics has developed a database presenting GDP in Purchasing Power Parity terms with added estimates for the size of the informal economy and adjustments for out-of-date GDP base year data. The GDP value of Singapore represents 0.30 percent of the world economy. This page provides - Singapore GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. External sources estimated that Singapore’s medical inflation rate for 2019 and 2020 was 10% per year. Singapore GDP data quality rating: Grade A - As Good as it Gets and GDP is estimated to be 10.4% bigger than shown in official data when measured at Purchasing Power Parity (PPP) with estimates allowing for Base Year age and Shadow economy size. The 1985 recession exposed structural strains in the economy, which had hitherto been masked by strong economic growth. Singapore economic growth for 2019 was $374.39B, a 0.42% decline from 2018. SINGAPORE ECONOMIC DATA News - Find latest News & top stories about SINGAPORE ECONOMIC DATA. Explore photos, statistics and additional rankings of Singapore. Singapore (/ ˈ s ɪ ŋ (ɡ) ə p ɔːr / ()), officially the Republic of Singapore, is a sovereign island city-state in maritime Southeast Asia.It lies about one degree of latitude (137 kilometres or 85 miles) north of the equator, off the southern tip of the Malay Peninsula, bordering the Strait of Malacca to the west, the Riau Islands to the south, and the South China Sea to the east. Jan/22. In 2018, Singapore's GDP was the 41 st highest in the world at $349.659 billion while its per capita GDP was the 8 th highest in the world at $61,766. Economy Stats: compare key data on Malaysia & Singapore. Economic Survey of Singapore Each report contains analyses of the overall Singapore economy and its various economic sectors. Singapore tourism facts. The economy contracted 0.6% in 2009 as a result of the global financial crisis, but has continued to grow since 2010. Business Expectations for the Services Sector (Forecast For The Next 6 Months), Quarterly 650. 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