Skip to content
ChartBasis
Choose a language: English

Singapore

Headline economic indicators for Singapore, with the most recent official readings.

Prices

Prices — Singapore
Indicator Value Change
Inflation rate · 0.9% -1.49 (-62.2%)
Consumer price index · 134.4 +1.20 (+0.9%)
House price index (quarterly) · 165.1 +0.83 (+0.5%)
House price inflation, year on year (quarterly) · 2.9% -0.50 (-14.7%)
Real house price index (quarterly) · 120.9 -0.21 (-0.2%)
Real house price growth, year on year (quarterly) · 1.0% -0.85 (-44.8%)
GDP deflator inflation · -1.8% -7.66 (-130.6%)

GDP

GDP — Singapore
Indicator Value Change
GDP growth rate · 5.0% -0.32 (-5.9%)
GDP per capita · 98,813.98 +3,917 (+4.1%)
GDP per capita, long-run history · 80,320 +2,375 (+3.0%)
GDP · 603,869,516,998.74 +30,992,256,820 (+5.4%)
GDP, PPP · 998,284,821,428 +73,672,247,913 (+8.0%)
GDP per capita, PPP · 163,354 +10,193 (+6.7%)
GDP per capita growth · 3.7% +0.49 (+14.9%)
GNI per capita · 81,760 +5,940 (+7.8%)
Agriculture to GDP · 0.0% -0.00 (-6.5%)
Industry to GDP · 22.7% +1.22 (+5.7%)
Manufacturing to GDP · 17.4% +1.17 (+7.2%)
Services to GDP · 71.6% -1.56 (-2.1%)
Household consumption to GDP · 31.1% +0.40 (+1.3%)
Gross capital formation to GDP · 22.5% +0.64 (+2.9%)
Gross savings to GDP · 40.0% -0.48 (-1.2%)

Labour

Labour — Singapore
Indicator Value Change
Unemployment rate · 2.8% +0.08 (+3.0%)
Labour force participation rate · 69.7% +0.47 (+0.7%)
Female labour force participation rate · 63.6% +0.43 (+0.7%)
Youth unemployment rate · 6.8% +0.45 (+7.1%)
Employment to population ratio · 67.7% +0.40 (+0.6%)
Employment in agriculture · 0.1% -0.00 (-2.6%)
Employment in industry · 14.0% -0.16 (-1.2%)
Employment in services · 85.9% +0.17 (+0.2%)

Money

Money — Singapore
Indicator Value Change
Real interest rate · -5.2% -12.82 (-168.4%)
Real effective exchange rate (monthly) · 115.0 +0.16 (+0.1%)
Nominal effective exchange rate (monthly) · 114.2 +0.14 (+0.1%)
Private sector credit to GDP (quarterly) · 167.8% -3.36 (-2.0%)
Credit-to-GDP gap (quarterly) · -21.98 pp -2.21 (-11.2%)
Broad money to GDP · 147.7% +24.70 (+20.1%)
Private sector credit to GDP · 128.4% +9.18 (+7.7%)
Lending rate · 5.3% +0.00 (+0.0%)
Bank deposit rate · 0.1% -0.06 (-33.6%)
Stock market capitalization to GDP · 136.5% +25.21 (+22.6%)
Bank nonperforming loans · 1.3% -0.00 (-0.2%)
Official exchange rate · 1.31 -0.03 (-2.2%)

Trade

Trade — Singapore
Indicator Value Change
Current account to GDP · 16.7% -0.49 (-2.8%)
Exports to GDP · 177.9% +3.20 (+1.8%)
Imports to GDP · 142.5% +3.81 (+2.7%)
Trade to GDP · 320.3% +7.01 (+2.2%)
Exports of goods and services · 1,073,990,898,313.51 +73,427,224,164 (+7.3%)
Imports of goods and services · 860,239,550,269.61 +65,982,336,146 (+8.3%)
Trade balance, goods and services (annual) · 213,751,348,043.9 +7,444,939,483 (+3.6%)
Current account balance (annual) · 100,926,153,963.82 +2,385,055,852 (+2.4%)
Foreign direct investment to GDP · 26.3% +2.77 (+11.7%)
Total reserves, including gold · 432,113,578,989.26 +48,167,625,438 (+12.5%)
Reserves in months of imports · 4.4 +0.21 (+4.9%)

Government

Government — Singapore
Indicator Value Change
Government debt to GDP · 167.8% -5.82 (-3.4%)
Government revenue to GDP · 17.7% -0.28 (-1.6%)
Government expense to GDP · 17.1% +2.44 (+16.6%)
Tax revenue to GDP · 13.6% -0.18 (-1.3%)
Government budget balance to GDP · 3.4% +1.95 (+130.2%)
Government consumption to GDP · 10.3% +0.20 (+2.0%)
Education spending to GDP · 2.2% +0.09 (+4.1%)
Health spending to GDP · 4.5% +0.16 (+3.7%)

Demography

Demography — Singapore
Indicator Value Change
Population · 6,111,175 +74,315 (+1.2%)
Population, long-run history · 5,750 +33.31 (+0.6%)
Population growth · 1.2% -0.77 (-38.7%)
Life expectancy · 83.3 +0.25 (+0.3%)
Fertility rate · 0.97 +0.00 (+0.0%)
Birth rate · 7.4 +0.00 (+0.0%)
Death rate · 6.0 -0.20 (-3.2%)
Urban population share · 100.0% +0.00 (+0.0%)
Population aged 65 and over · 14.2% +0.55 (+4.1%)
Under-five mortality rate · 2.7 +0.10 (+3.8%)
Population density · 8,329.0 +150.94 (+1.8%)
Net migration · 16,892 -3,119 (-15.6%)

Source: Bank for International Settlements (BIS). Translated titles are not official BIS translations.

Source: Bolt, J. and van Zanden, J.L. (2024), Maddison style estimates of the evolution of the world economy: A new 2023 update, Journal of Economic Surveys, 1-41, DOI 10.1111/joes.12618. Licensed under CC BY 4.0. The original sources are listed on each page.

All data sources

Original sources of these estimates

GDP pc: 2008 - 2022: Total Economy Database the Conference Board for all countries included in TED. Otherwise UN national accounts statistics

Singapore

Economies nearby

Comparable readings from neighbouring economies.