Singapore's economy shrank 3.8 percent from a year earlier in the last quarter of 2020, compared with market consensus of a 4.5 percent fall and a revised 5.6 percent decline in the prior period, an advance estimate showed. On a quarter-on-quarter seasonally-adjusted basis, the economy grew by 2.1 percent, following the 9.5 percent expansion in the third quarter. For the whole of 2020, the Singapore economy contracted by 5.8 percent. source: Statistics Singapore
GDP Annual Growth Rate in Singapore averaged 6.19 percent from 1976 until 2020, reaching an all time high of 18.60 percent in the second quarter of 2010 and a record low of -13.40 percent in the second quarter of 2020. This page provides - Singapore GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Singapore GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on February of 2021.
GDP Annual Growth Rate in Singapore is expected to be 3.60 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Singapore to stand at 4.50 in 12 months time. In the long-term, the Singapore GDP Annual Growth Rate is projected to trend around 2.10 percent in 2022, according to our econometric models.