SINGAPORE ECONOMY

GDP 2018 at Current Market Prices

Per Capita GDP atCurrent Prices Real GDP Growth

$87,108 3.1%

Manufacturing22.0%

Construction3.4%

Utilities1.2%

Wholesale & Retail Trade17.6%

Transportation &Storage

6.7%

Accomodation &Food Services

2.1%

Information &Communications

4.1%

Finance &Insurance

13.0%

BusinessServices

14.9%

Other ServicesIndustries

11.3%

Ownership of Dwellings

3.7%

Close to 70% of nominal value added was generated by the services industries, while about 25% was generated by the goods-producing industries.

Gross Domestic Product (GDP) refers to the aggregate value of the goods and services produced within the economic territory of Singapore.

GDP estimates are compiled by the output, expenditure and income approaches.

The output approach is the main approach used to compile GDP in Singapore. More about Industry Breakdown for Output-Based GDP.

Services Producing Industries

Goods Producing Industries

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Nominal GDP

2018

S$ 491,175 Mil

Compensationof Employee

39.7%

PrivateConsumptionExpenditure

35.4%

Net Exports of Goods& Services

26.9% Taxes Less Subsidieson Production &on Imports

7.2%

Gros OperatingSurplus

53.1%

2.4

Income-BasedGDP

Expenditure-BasedGDP

Changes inInventories

2.5%

GovernmentConsumptionExpenditure

10.7%

Change in Value Added per WorkerIn Chained (2015) Dollars in 2018

Stock of Singapore’s Direct InvestmentAbroad in 2018 Total

S$835.6 Bil

CHINA

S$139.3 Bil

S$65.0 Bil

S$58.6 Bil

S$57.2 Bil

INDONESIA

HONG KONG

UNITED KINGDOM

Gross FixedCapital Formation

24.5%

S$54.9 Bil

Preliminary Data

INDIA

Stock of Foreign Direct Investment inSingapore in 2018 Total

S$1,736.8 Bil

S$289.0 Bil

S$214.1 Bil

S$128.8 Bil

S$122.1 Bil

S$114.9 Bil

UNITED STATES

CAYMAN ISLANDS

BRITISH VIRGINISLANDS

NETHERLANDS

JAPAN

Number, Employment and Value Added of Enterprises in 2018

1. Enterprises comprise companies, businesses, non-profit organisations, ministries, statutory boards and

2. SMEs (i.e. Small & Medium Enterprises) are defined as enterprises with operating receipts not more than $100mil or employment not more than 200 workers.

3. Majority local-owned enterprises refer to enterprises with at least 50% local equity. Majority foreign-owned

4. Employment of enterprises refers to total employment excluding foreign domestic activities.

5. Value-added of enterprises refers to Gross Value Added (GVA) less ownership of dwellings.

TOTAL TOTALTOTAL TOTAL

ENTERPRISE COUNT EMPLOYMENT NOMINAL VALUE ADDED

263,900 3.5 MilSMEs

99%Non-SMEs

1%

EnterpriseSize

EnterpriseSize

EnterpriseSize

Local

82%Foreign

18%

EnterpriseOwnership

EnterpriseOwnership

EnterpriseOwnership

SMEs

72%Non-SMEs

28%

SMEs

47%Non-SMEs

53%

Local

69%Foreign

31%

Local

38%Foreign

62%

S$447 Bil

government/government-aided schools.

enterprises refer to enterprises with less than 50% local equity.

Total International Trade in Services 2018

S$494.6 Bil

Total Services Exports - 2018

S$246.2 Bil

Total Services Imports - 2018

S$248.4 bil

S$137.3 Bil S$113.0 Bil S$111.1 Bil S$105.0 Bil S$66.5 Bil S$65.3 Bil

TOP 6 TRADING PARTNERS

Top 6 Trading Partners for Services Trade in 2017

EU 28 S$80.0 Bil

UNITED STATES S$69.2 Bil

JAPAN

S$28.6 BilCHINA

S$27.8 Bil

AUSTRALIA S$24.8 Bil

HONGKONG S$17.9 Bil

S$1,022.2 BilTotal Merchandise

Trade in 2019S$489.7 Bil

Total ImportsS$532.5 Bil

Total Exports

CHINA MALAYSIA EU28 UNITED STATES HONG KONGTAIWAN

Changes in Prices of Imported &Exported Goods in 2019

1.5%

0.4%

1.2% -9.4%

-6.5% -7.6%

-9.7% -2.9%

-1.4% -5.2%

-0.1% -1.3%

1.8%

1.3% 1.8%

2.0%

FOOD & LIVE ANIMALS

BEVERAGES & TOBACCO BEVERAGES & TOBACCO

CRUDE MATERIALS CRUDE MATERIALS

MINERAL FUELS &RELATED MATERIALS

MINERAL FUELS &RELATED MATERIALS

ANIMAL & VEGETABLE OILS ANIMAL & VEGETABLE OILS

CHEMICALS &CHEMICAL PRODUCTS

CHEMICALS &CHEMICAL PRODUCTS

MANUFACTURED GOODS MANUFACTURED GOODS

MACHINERY & TRANSPORTEQUIIPMENT

MACHINERY & TRANSPORTEQUIIPMENT

MISCELLANEOUS MANUFACTUREDARTICLES

MISCELLANEOUS MANUFACTUREDARTICLES

FOOD & LIVE ANIMALS

-2.4%

2.6%

More about the Import and Export Price Indices.

Import Price Index2019 over 2018 Year-on-Year Change

Export Price Index2019 over 2018 Year-on-Year Change

-1.0% -1.4%

Do You Know? In 2018…

S$1.36 S$1.73

S$1.56 S$1.24 2.3 MilResident Labour

Force

67.7%Resident LFPR

127Banks Operating

in Singapore

LFPR = Labour Force Participation Rate

6.9 Mil Main Credit Cards

1.3 Mil Supplementary Credit Cards

8.4 Mil Mobile Phone Subscription

3.3 Mil MRT Average Daily Ridership

44.8 HrsAverage WeeklyHours Worked

18.5 Mil International Visitor Arrivals

S$26.9 Bil Tourism Receipts 4,380Restaurants

477Fast Food Outlets

Refers to 2017 Data

For more information, please refer to the Themes Pagehttps://www.singstat.gov.sg/find-data/search-by-theme

Note: numbers may not add up to the totals due to roundingUpdated in January 2020