Singapore’s gross domestic product expanded by 2.1 percent on quarter in the last three months of 2020, following a 9.2 percent growth in the previous period, the flash estimate showed. Compared to the same quarter in 2019, the economy shrank 3.8 percent, after a 5.6 percent contraction in the last quarter of 2018. For the full year, the economy contracted 5.8%. source: Statistics Singapore
GDP Growth Rate in Singapore averaged 1.52 percent from 1975 until 2020, reaching an all time high of 9.20 percent in the third quarter of 2020 and a record low of -13.20 percent in the second quarter of 2020. This page provides - Singapore GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Singapore GDP Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on February of 2021.
GDP Growth Rate in Singapore is expected to be 5.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Growth Rate in Singapore to stand at 3.00 in 12 months time. In the long-term, the Singapore GDP Growth Rate is projected to trend around 2.00 percent in 2022, according to our econometric models.