Singapore in numbers · SingStat and METI data
Singapore GDP and GDP growth: the latest figures, and what the year needs
Singapore’s economy grew 5.4% in Q3 2026 on a year earlier (first estimate). See what the rest of 2026 needs, and how official forecasts have done.
GDP growth, Q3 2026
5.4%
Down from 6.2% in Q2
On a year earlier, after inflation. On the quarter before: +1.1%, seasonally adjusted. An early estimate (14 Oct 2026). How much these move
MTI’s forecast for 2026
4.5 to 5.5%
Set 11 Aug 2026
Q1 to Q3 2026 so far: 6.0% on a year earlier. How its forecasts have done
The economy in 2025
S$790 bn
US$604 bn
At that year’s prices. Grew 5.0% after inflation. Per person and over time
The full figures for Q3 2026, with the forecast for 2027, come next in the Economic Survey. The ministry hasn’t named the day yet; last year’s came on 21 Nov. Release dates
In short
Singapore’s economy grew 5.4% in Q3 2026 on a year earlier, on the first estimate. To finish 2026 at 5.0%, the middle of MTI’s forecast, Q4 needs to grow 2.2%. First estimates have been 0.5 of a point from the full figure six weeks later, on average since Q4 2012. The sums
Singapore’s GDP growth since 1976
Growth on a year earlier
Tap or hover on the chart to read a value.
The fastest quarter on record was Q2 2021, at 18.9%. The slowest was Q2 2020, at −11.7%. Over the ten years to 2025, growth averaged 3.4% a year, with 2020 the weakest (−3.6%) and 2021 the strongest (10.1%).
How the government’s forecasts have done
The ministry gives its first range for a year each November and revises it in February, May, August and November, as each quarter’s figures come in. Since 2010, the first range held the year’s first full-year estimate in 8 of 16 years. Of the misses, 6 came in above the range and 2 below. Against the figures as they stand today, after later revisions, the first range held in 5 of 16.
| Year | First forecast | Last forecast | First estimate | Growth now | Chart |
|---|---|---|---|---|---|
| 2025 | 1.0 to 3.0%Nov 2024 | around 4.0%Nov 2025 | 4.8%outside | 5.0% | |
| 2024 | 1.0 to 3.0%Nov 2023 | around 3.5%Nov 2024 | 4.0%outside | 5.3% | |
| 2023 | 0.5 to 2.5%Nov 2022 | around 1.0%Nov 2023 | 1.2% | 1.5% | |
| 2022 | 3.0 to 5.0%Nov 2021 | around 3.5%Nov 2022 | 3.8% | 4.0% | |
| 2021 | 4.0 to 6.0%Nov 2020 | around 7.0%Nov 2021 | 7.2%outside | 10.1% | |
| 2020 | 0.5 to 2.5%Nov 2019 | −6.5 to −6.0%Nov 2020 | −5.8%outside | −3.6% | |
| 2019 | 1.5 to 3.5%Nov 2018 | 0.5 to 1.0%Nov 2019 | 0.7%outside | 1.2% | |
| 2018 | 1.5 to 3.5%Nov 2017 | 3.0 to 3.5%Nov 2018 | 3.3% | 3.2% | |
| 2017 | 1.0 to 3.0%Nov 2016 | 3.0 to 3.5%Nov 2017 | 3.5%outside | 4.3% | |
| 2016 | 1.0 to 3.0%Nov 2015 | 1.0 to 1.5%Nov 2016 | 1.8% | 3.9% | |
| 2015 | 2.0 to 4.0%Nov 2014 | close to 2.0%Nov 2015 | 2.1% | 3.0% | |
| 2014 | 2.0 to 4.0%Nov 2013 | around 3.0%Nov 2014 | 2.8% | 3.9% | |
| 2013 | 1.0 to 3.0%Nov 2012 | 3.5 to 4.0%Nov 2013 | 3.7%outside | 4.8% | |
| 2012 | 1.0 to 3.0%Nov 2011 | around 1.5%Nov 2012 | 1.2% | 4.4% | |
| 2011 | 4.0 to 6.0%Nov 2010 | 5.0%Nov 2011 | 4.8% | 6.2% | |
| 2010 | 3.0 to 5.0%Nov 2009 | 15.0%Nov 2010 | 14.7%outside | 14.5% |
Forecasts from each press release’s title or text, linked in the download. “First estimate” is the full-year figure in the January advance release; “outside” marks a first range that didn’t hold it. “Growth now” is SingStat’s figure today, after every revision.
For 2026 so far: 1.0 to 3.0% on 21 Nov 2025; 2.0 to 4.0% on 10 Feb 2026; 2.0 to 4.0% on 25 May 2026; 4.5 to 5.5% on 11 Aug 2026.
How much the first estimate moves
The first estimate comes about two weeks after a quarter ends and is worked out mostly from its first two months. The full figure follows in the Economic Survey about six weeks later. Over the 55 quarters from Q4 2012 to Q2 2026, that full figure differed from the first estimate by 0.5 of a point on average. It was within half a point 37 times, higher 39 times and lower 12 times. The biggest gap was Q1 2020: first −2.2%, then −0.7%.
Figures keep changing after that, as yearly surveys and new base years come in. From the first estimate to today the average change is 1.5 of a point, and 49 of the 55 quarters now stand higher than first reported.
| Quarter | First estimate | Six weeks later | Now |
|---|---|---|---|
| Q2 2026 | 5.7% | 5.9% | 6.2% |
| Q1 2026 | 4.6% | 6.0% | 6.4% |
| Q4 2025 | 5.7% | 6.9% | 5.7% |
| Q3 2025 | 2.9% | 4.2% | 4.5% |
| Q2 2025 | 4.3% | 4.4% | 5.4% |
| Q1 2025 | 3.8% | 3.9% | 4.5% |
| Q4 2024 | 4.3% | 5.0% | 5.3% |
| Q3 2024 | 4.1% | 5.4% | 7.0% |
| Q2 2024 | 2.9% | 2.9% | 4.8% |
| Q1 2024 | 2.7% | 2.7% | 4.3% |
| Q4 2023 | 2.8% | 2.2% | 3.1% |
| Q3 2023 | 0.7% | 1.1% | 1.6% |
| Q2 2023 | 0.7% | 0.5% | 0.6% |
| Q1 2023 | 0.1% | 0.4% | 0.5% |
| Q4 2022 | 2.2% | 2.1% | 2.4% |
| Q3 2022 | 4.4% | 4.1% | 4.4% |
| Q2 2022 | 4.8% | 4.4% | 5.0% |
| Q1 2022 | 3.4% | 3.7% | 4.4% |
| Q4 2021 | 5.9% | 6.1% | 8.0% |
| Q3 2021 | 6.5% | 7.1% | 9.7% |
| Q2 2021 | 14.3% | 14.7% | 18.9% |
| Q1 2021 | 0.2% | 1.3% | 4.9% |
| Q4 2020 | −3.8% | −2.4% | −0.1% |
| Q3 2020 | −7.0% | −5.8% | −3.9% |
| Q2 2020 | −12.6% | −13.2% | −11.7% |
| Q1 2020 | −2.2% | −0.7% | 1.4% |
| Q4 2019 | 0.8% | 1.0% | 1.6% |
| Q3 2019 | 0.1% | 0.5% | 0.6% |
| Q2 2019 | 0.1% | 0.1% | 1.1% |
| Q1 2019 | 1.3% | 1.2% | 1.3% |
| Q4 2018 | 2.2% | 1.9% | 1.1% |
| Q3 2018 | 2.6% | 2.2% | 2.8% |
| Q2 2018 | 3.8% | 3.9% | 4.5% |
| Q1 2018 | 4.3% | 4.4% | 4.4% |
| Q4 2017 | 3.1% | 3.6% | 4.2% |
| Q3 2017 | 4.6% | 5.2% | 5.0% |
| Q2 2017 | 2.5% | 2.9% | 3.5% |
| Q1 2017 | 2.5% | 2.7% | 4.6% |
| Q4 2016 | 1.8% | 2.9% | 5.2% |
| Q3 2016 | 0.6% | 1.1% | 3.5% |
| Q2 2016 | 2.2% | 2.1% | 3.4% |
| Q1 2016 | 1.8% | 1.8% | 3.5% |
| Q4 2015 | 2.0% | 1.8% | 2.2% |
| Q3 2015 | 1.4% | 1.9% | 3.7% |
| Q2 2015 | 1.7% | 1.8% | 3.1% |
| Q1 2015 | 2.1% | 2.6% | 3.0% |
| Q4 2014 | 1.5% | 2.1% | 4.5% |
| Q3 2014 | 2.4% | 2.8% | 3.7% |
| Q2 2014 | 2.1% | 2.4% | 3.3% |
| Q1 2014 | 5.1% | 4.9% | 4.3% |
| Q4 2013 | 4.4% | 5.5% | 5.1% |
| Q3 2013 | 5.1% | 5.8% | 6.1% |
| Q2 2013 | 3.7% | 3.8% | 4.6% |
| Q1 2013 | −0.6% | 0.2% | 3.4% |
| Q4 2012 | 1.1% | 1.5% | 4.7% |
Growth on a year earlier. First estimate and six weeks later: the ministry’s advance release and its Economic Survey release. Now: SingStat’s figure, or the ministry’s latest release where it is newer.
Which industries drove growth
In Q2 2026 the economy grew 5.9%. Manufacturing added the most, 2.1 of a point, and makes up 18% of the economy. The points add up to the whole: the table is SingStat’s own split of the growth.
| Industry | Share of the economy | Growth | Points added | |
|---|---|---|---|---|
| Manufacturing | 18.4% | 12.5% | +2.1 | |
| Wholesale and retail trade | 20.1% | 7.9% | +1.6 | |
| Finance and insurance | 13.0% | 6.2% | +0.8 | |
| Information and communications | 5.9% | 5.0% | +0.3 | |
| Real estate and business services | 10.3% | 3.0% | +0.3 | |
| Construction | 3.8% | 5.8% | +0.2 | |
| Other services | 9.1% | 2.1% | +0.2 | |
| Taxes on products | 5.7% | 3.6% | +0.2 | |
| Transport and storage | 7.2% | 3.0% | +0.1 | |
| Ownership of homes | 3.6% | 2.0% | +0.1 | |
| Utilities and other goods | 1.4% | 0.6% | 0.0 | |
| Accommodation and food | 1.6% | 0.1% | 0.0 |
These are the latest full figures. The first estimate for Q3 2026 gives only broad groups; it’s in the ministry’s release.
Share: the last four quarters at current prices. Growth and points: real, on a year earlier. SingStat tables M015661, M015671 and M015651.
GDP by spending: homes, government, investment and trade
The same economy, counted by who spends. Singapore sells abroad goods and services worth 186% of its GDP and buys 150%, because much of what it exports passes through or is made from imports. What counts for GDP is the gap between the two.
| Spending | Size against GDP | Growth, Q2 2026 |
|---|---|---|
| Household spending | 30% | 3.5% |
| Government spending | 10% | 2.9% |
| Investment (fixed assets) | 22% | 8.4% |
| Exports | 186% | 15.1% |
| Imports | 150% | 18.1% |
Size: the last four quarters at current prices, against GDP. Growth: real, on a year earlier. SingStat tables M014811 and M014871. Stock changes and a statistical gap are left out, so the sizes don’t add to 100%.
How big Singapore’s economy is, and per person
In 2025 Singapore produced S$789.5 billion of goods and services, about US$604.3 billion at that year’s average rate of S$1.31 to the US dollar. That’s S$129,194 for each person living here, or US$98,878.
Not all of it stays. Foreign-owned firms send profits home, and Singaporeans earn some abroad. Net, S$133.4 billion more flowed out than in, 17% of GDP, so gross national income, what residents and their firms earn, was S$656.1 billion.
| Year | GDP, S$ bn | GDP, US$ bn | Per person, S$ | Per person, US$ |
|---|---|---|---|---|
| 2025 | 789.5 | 604.3 | 129,194 | 98,878 |
| 2024 | 765.5 | 573.0 | 126,803 | 94,912 |
| 2023 | 686.4 | 511.1 | 115,993 | 86,362 |
| 2022 | 709.0 | 514.2 | 125,773 | 91,213 |
| 2021 | 592.6 | 440.9 | 108,667 | 80,853 |
| 2020 | 484.6 | 351.4 | 85,230 | 61,797 |
| 2019 | 514.1 | 376.8 | 90,128 | 66,067 |
| 2018 | 509.8 | 377.9 | 90,416 | 67,019 |
| 2017 | 476.1 | 344.9 | 84,838 | 61,446 |
| 2016 | 443.1 | 320.8 | 79,030 | 57,206 |
At each year’s prices; growth after inflation is in the chart above. Per person: GDP divided by everyone living here, including non-residents. SingStat tables M015731, M015721, M015121, M015101 and M015031.
Has GDP growth reached wages?
From 2001 to 2025, GDP per person grew 110% after inflation. The median full-time wage grew 55% after inflation over the same years.
GDP per person Median monthly wage
Tap or hover on the chart to read a value.
They measure different things. GDP per person divides the whole economy, including foreign firms’ profits, by everyone living here, foreign workers included. The wage is for residents in full-time work. Prices are adjusted differently too: GDP with its own price index, the wage with consumer prices. So part of the gap comes from how each is counted. The chart shows the two grew at different rates; it doesn’t show why. See salaries and household income for more.
Is Singapore in a recession?
No. Seasonally adjusted, GDP grew 1.1% in Q3 2026 and 1.5% in Q2 2026. (Q3 2026 is the first estimate.) A common rule of thumb calls two quarters of decline in a row a technical recession. By that rule Singapore has had 5 since 1975.
| Quarters | How many | Fall in GDP |
|---|---|---|
| Q1 2020 to Q2 2020 | 2 | −12.2% |
| Q2 2008 to Q1 2009 | 4 | −7.8% |
| Q1 2001 to Q3 2001 | 3 | −5.4% |
| Q4 1997 to Q3 1998 | 4 | −4.9% |
| Q2 1985 to Q4 1985 | 3 | −4.9% |
Fall: from the quarter before the first decline to the lowest quarter, seasonally adjusted. SingStat tables M015902 and M015662.
Why websites show different GDP figures
- Current or constant prices. At 2025’s prices GDP was S$789.5 billion. In 2015 prices, the measure used for growth, it was S$593.9 billion.
- S$ or US$. International sites convert to US dollars, at an average rate for the year (S$1.31 in 2025).
- Per person. SingStat puts 2025’s GDP per person at US$98,878 at that year’s prices but US$70,684 in 2015 prices. Sites quoting about US$71,000 and about US$99,000 can both be right.
- Old years. Global databases often lag by a year, and SingStat revises past years, so the same year can carry a different figure later.
- Advance or final. A quarter’s first figure is an estimate; it’s replaced about six weeks later.
When the next figures come out
The full figures for Q3 2026, with the forecast for 2027, come next in the Economic Survey. The ministry hasn’t named the day yet; last year’s came on 21 Nov.
Each quarter has two releases, at 8 am: the first estimate about two weeks after the quarter ends, and the full figures in the Economic Survey six to seven weeks later. The forecast changes, if it does, with the survey. Our jobs read them the same morning.
| Date | Release | Quarter |
|---|---|---|
| 14 Oct 2026 | First estimate | Q3 2026 |
| 14 Jul 2026 | First estimate | Q2 2026 |
| 14 Apr 2026 | First estimate | Q1 2026 |
| 2 Jan 2026 | First estimate | Q4 2025 |
- Singapore population: how many people, and who they are
- Singapore’s fertility rate and births: the numbers, and what’s moving them
- Singapore GDP per capita: where it ranks, and how much reaches people
Questions people ask
What is Singapore’s GDP?
S$789.5 billion in 2025 at that year’s prices, about US$604.3 billion. Over ten years
What is Singapore’s GDP growth rate?
5.4% in Q3 2026 on a year earlier (first estimate). In 2025 as a whole it was 5.0%.
What is the GDP growth forecast?
4.5 to 5.5%, set by MTI on 11 Aug 2026. How its forecasts have done
Is Singapore in a recession?
No. Seasonally adjusted, GDP moved +1.1% in Q3 2026 and +1.5% in Q2 2026. Past recessions
What is Singapore’s GDP per person?
S$129,194 in 2025, or US$98,878, at that year’s prices. It divides GDP by everyone living here, foreign workers included. Why sites differ
What is Singapore’s biggest industry?
Wholesale and retail trade, at 20% of the economy, then manufacturing at 18%. In Q2 2026, manufacturing added the most to growth. Every industry
What is an advance estimate?
The first figure for a quarter, out about two weeks after it ends. It’s worked out mostly from the quarter’s first two months, so it can change when the full figures come out. How much it has moved
When are the next GDP figures?
The full figures for Q3 2026, with the forecast for 2027, come next in the Economic Survey. The ministry hasn’t named the day yet; last year’s came on 21 Nov. Release dates
What is the difference between MTI and METI?
Same ministry. The Ministry of Trade and Industry became the Ministry of Energy, Trade and Industry, and its website moved to meti.gov.sg on 1 October 2026. Releases before then say MTI; we keep the name each release was issued under.
Why is GNI lower than GDP?
GDP counts everything produced here. Gross national income counts what residents and their firms earn, here or abroad. Foreign-owned firms here send more profit home than Singaporeans earn abroad, so GNI is the smaller figure. The numbers
Is your sum a forecast?
No. It’s arithmetic on published figures: what the remaining quarters would need for the year to reach a rate you pick. The forecasts on this page are the ministry’s.
Is what I type kept?
No. The calculator runs in your browser and sends nothing to us.
The checks
The page tests SingStat’s tables and the ministry’s release against each other every time it loads.
| Check | Expected | Ours | OK |
|---|---|---|---|
| Four quarters add to the year, last 10 years | 10 of 10 | 10 of 10 | ✓ |
| Industry points add to growth, Q2 2026 | 5.9% | 5.9% | ✓ |
| Year from rounded quarters, worst gap since 1977 | under 0.05 | 0.034 | ✓ |
| Release table agrees with its headline | 5.4% | 5.4% | ✓ |
How we work this out
A job reads SingStat’s tables every morning, and every few minutes on release mornings. A second job reads the ministry’s press releases, because SingStat’s tables carry only final figures. New figures show here without anyone typing them.
- Official: GDP, growth on a year earlier and on the quarter before, each industry’s share and points, the spending side, GNI and GDP per person are SingStat’s. First estimates, revisions in the latest release and every forecast are the ministry’s, from its own releases.
- Ours: what the rest of the year needs, the forecast and first-estimate records, the ten-year average, the recession list, and GDP per person against the median wage after inflation.
- Forecast record: we read every forecast from the ministry’s releases since 2008 and list them, with links, in the download.
- This page shows numbers, not advice. See our disclaimer, how we get our numbers and corrections.
Source: Singapore Department of Statistics, Table Builder, read on 8 Nov 2026, used under its terms of use; and the press releases of the Ministry of Energy, Trade and Industry (the Ministry of Trade and Industry until October 2026), read on 8 Nov 2026. Numbers.sg isn’t connected to or endorsed by the Singapore Government.
Changes to this page
Singapore’s GDP and GDP growth: the latest quarter, the government’s forecast and what the rest of the year needs to reach it, every forecast since 2008 against what happened, how much first estimates move, the industries and spending behind growth, and every recession since 1975. Singapore GDP