UK Bets On Digital Agreement With Singapore
Plans for a UK-Singapore Digital Economy Agreement (DEA)—the first such agreement between an Asian and European country—were first announced in December.
Singapore GDP and Economic Data
Includes Singapore real Gross Domestic Product growth rate, with latest forecasts and historical data, GDP per capita, GDP composition and breakdown by sector.
Browse additional economic indicators and data sets, selected by Global Finance editors, to learn more about Singapore economic outlook, debt to GDP ratio, international trade performance and population trends. Rankings of Singapore best banks and safest banks are also available.
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International Reserves
USD 287.7 billion (2018)
International Monetary Fund (IMF), data retrieved October 2019
Gross Domestic Product - GDP
USD 361.1 billion (2018, estimate)
IMF - World Economic Outlook, October 2019
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GDP (Purchasing Power Parity)
Intl$ 565.8 billion (2018, estimate)
IMF - World Economic Outlook, October 2019
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Real GDP growth
| 2014 | 2015 | 2016 | 2017* | 2018* |
| 4.1% | 2.5% | 2.8% | 3.9% | 3.2% |
*Estimate
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GDP - composition by sector
- agriculture: 0%
- industry: 25.2%
- services: 69.4%
(2016 estimate)
Gross domestic expenditure on R&D; (% of GDP)
2.2% (2014)
OECD, retrieved October 2019
Inflation
| 2014 | 2015 | 2016 | 2017* | 2018* |
| -0.5% | -0.5% | 0.6% | 0.4% | 0.7% |
*Estimate
Source
Unemployment rate
| 2014 | 2015 | 2016 | 2017* | 2018* |
| 1.9% | 2.1% | 2.2% | 2.1% | 2.2% |
*Estimate
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Public debt (General government gross debt as a % of GDP)
| 2014 | 2015 | 2016 | 2017* | 2018* |
| 102.3% | 106.9% | 109.5% | 113.6% | 114.1% |
*Estimate
Source
Public deficit (General government net lending/borrowing as a % of GDP)
| 2014 | 2015 | 2016 | 2017* | 2018* |
| 2.9% | 3.7% | 5.4% | 3.6% | 4.3% |
*Estimate
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Government bond ratings
Standard & Poor's: AAA
Moody's: Aaa
Standard & Poor's / Moody's (Updated January 2017)
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Market value of publicly traded shares
| 2016 | 2017 | 2018 |
| USD 640.4 billion | USD 787.3 billion | USD 687.3 billion |
Largest companies
DBS, Oversea-Chinese Banking, United Overseas Bank, SingTel, Wilmar International, CapitaLand, Singapore Airlines, Keppel, Olam International, Flex, Frasers Property Limited, China Aviation Oil, Sembcorp Industries
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Current account balance by percentage of GDP
17.9 % (2018 estimate)
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Exports as percent of GDP (Exports of goods and services)
176.4% (2018)
Shares in world total merchandising export
2.12% (2018)
Shares in world total commercial services export
3.18% (2018)
Export commodities
Machinery and equipment (including electronics and telecommunications), pharmaceuticals and other chemicals, refined petroleum products, foodstuffs and beverages
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Import commodities
Machinery and equipment, mineral fuels, chemicals, foodstuffs, consumer goods
Exports - major partners
China 14.7%, Hong Kong 12.6%, Malaysia 10.8%, US 6.6%, Indonesia 5.8%, Japan 4.7%, South Korea 4.6%, Thailand 4% (2017)
Imports - major partners
China 13.9%, Malaysia 12%, US 10.7%, Japan 6.3%, South Korea 5% (2017)
FDI inflows
| 2016 | 2017 | 2018 |
| USD 73,863 million | USD 75,723 million | USD 77,646 million |
FDI outflows
| 2016 | 2017 | 2018 |
| USD 39,782 million | USD 43,696 million | USD 37,143 million |
Value of cross-border M&A, by country of purchaser
| 2015 | 2016 | 2017 | 2018 |
| USD 20,533 million | USD 6,280 million | USD 12,851 million | USD 4,255 million |
Cross-border M&A deals worth over $3 billion completed in 2014
Mayon Investments Pte Ltd, AS Watson Holdings Ltd, Hong Kong, China, USD 5.7 billion / OCBC Pearl Ltd, Wing Hang Bank Ltd, Hong Kong, China, USD 4.8 billion
(for a monthly update on M&A; click here )
Cross-border M&A deals worth over $3 billion completed in 2015
Investor Group, IndCor Properties Inc, United States, USD 8.1 billion / Global Logistic Properties Ltd, Industrial Income Trust Inc-US Logistics Portfolio, United States, USD 4.6 billion
(for a monthly update on M&A; click here )
Best countries for doing business
Economies are ranked on their ease of doing business. A high ease of doing business ranking means the regulatory environment is more conducive to the starting and operation of a local firm.
Overall ranking: 2 out of 190 countries (2017)
Subcategories:
Starting a business: 6 out of 190 countries
Enforcing Contracts: 2 out of 190 countries
Registering Property: 19 out of 190 countries
Getting Credit: 20 out of 190 countries
Protecting Minority Investors: 1 out of 190 countries
Trading Across Borders: 41 out of 190 countries
Paying Taxes: 8 out of 190 countries
Dealing with Construction Permits: 10 out of 190 countries
Getting Electricity: 10 out of 190 countries
Resolving Insolvency: 29 out of 190 countries
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Global competitiveness ranking
2 out of 138 countries
(2016-2017)
Index of Economic Freedom
Ranking: 2 / Score: 87.78 (Free) (2016)
(100=totally free 0=totally repressed)
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Languages
Mandarin (official) 36.3%, English (official) 29.8%, Malay (official) 11.9%, Hokkien 8.1%, Tamil (official) 4.4%, Cantonese 4.1%, Teochew 3.2%, other Indian languages 1.2%, other Chinese dialects 1.1%, other 1.1% (2010 est.)
Religions
Buddhist 33.9%, Muslim 14.3%, Taoist 11.3%, Catholic 7.1%, Hindu 5.2%, other Christian 11%, other 0.7%, none 16.4% (2010 est.)
Total population
| 1990 | 2000 | 2010 | 2016* | 2021* |
| 3.047 million | 4.028 million | 5.077 million | 5.591 million | 5.863 million |
*Estimate
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Urban population as % of total population
| 1960 | 1980 | 2000 | 2018 |
| 46.6% | 48.4% | 56.9% | 66.4% |
Literacy
Total population: 97%
Male: 98.7%
Female: 95.4%
Definition: age 15 and over can read and write (2016 est.)
Freedom House rating
Political Rights: 4
Civil Liberties: 4 (2019)
(1 represents the most free, 7 the least free rating)
Source
Total telephone subscribers as % of population
Fixed: 34.2% Mobile: 145.7% (2018)
(fixed-telephone subscribers and mobile-cellular subscribers)