Singapore GDP Annual Growth Rate

Last Release

Jun 30, 2025

Actual

4.3

Units In

3.9

Frequency

Quarterly

Next Release

Aug 13, 2025

Time to Release

26 Days 11 Hours

Highest	Lowest	Average	Date Range	Source
18.6 Jun 2010	-13.3 Jun 2020	6 %	1976-2025	Statistics Singapore

In Singapore, services are the biggest sector of the economy and account for 72 percent of GDP. Within services the most important segments are: wholesale and retail trade (18 percent of total GDP); business services (16 percent); finance and insurance (13 percent), transport and storage (10 percent) and information and communications (5 percent). Industry contributes the remaining 28 percent total output. Manufacturing (21 percent) and construction (5 percent) are the most important industry segments.

Latest Updates

Singapore's economic growth is expected to slow in the second half of 2025 despite a stronger-than-expected 4.3% expansion in Q2 due to front-loaded exports ahead of new U.S. tariffs. Monetary Authority of Singapore chief Chia Der Jiun said on Tuesday that the outlook aligns with expectations of weaker global activity and external demand. “There is a range of possibilities around the extent and scope of tariffs, whether trade agreements are concluded and prove to be durable, and whether escalating trade conflicts recur,” Chia noted. The city-state had already lowered its full-year GDP forecast to 0–2%, down from an earlier 1–3%. Although U.S. President Donald Trump recently announced sweeping new tariffs of 20–50% on over 20 countries starting August 1, Singapore has not yet been notified and remains subject to a 10% baseline tariff announced in April.