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Singapore GDP Annual Growth Rate

Singapore's GDP annual growth rate rose to 4.39% in 2024, up from 1.82% in 2023, according to World Bank. This represents an increase of 2.57% from the previous year. Singapore has GDP annual growth rate higher than the global median (4.39% vs median 3.24%). Compared with the median in Asia, Singapore is higher (4.39% vs regional median 3.76%) and ranks 19th out of 47 countries in Asia.

Singapore's real GDP rose to $408.74 billion in 2024, up from $391.56 billion in 2023.

Yearly Historical Data (1961-2024)

(in %)
Year GDP Annual Growth Rate (%)
2024 4.39%
2023 1.82%
2022 4.11%
2021 9.76%
2020 -3.81%
2019 1.31%
2018 3.45%
2017 4.48%
2016 3.75%
2015 2.98%
2014 3.94%
2013 4.82%
2012 4.44%
2011 6.21%
2010 14.52%
2009 0.13%
2008 1.86%
2007 9.02%
2006 9.01%
2005 7.37%
2004 9.94%
2003 4.55%
2002 3.92%
2001 -1.07%
2000 9.04%
1999 5.72%
1998 -2.19%
1997 8.32%
1996 7.47%
1995 7.18%
1994 11.1%
1993 11.46%
1992 6.64%
1991 6.69%
1990 9.82%
1989 10.16%
1988 11.26%
1987 10.8%
1986 1.34%
1985 -0.62%
1984 8.79%
1983 8.55%
1982 7.1%
1981 10.82%
1980 10.11%
1979 9.55%
1978 7.78%
1977 6.85%
1976 7.44%
1975 3.99%
1974 6.12%
1973 10.6%
1972 13.32%
1971 12.41%
1970 13.94%
1969 13.83%
1968 13.53%
1967 12.51%
1966 10.18%
1965 7.83%
1964 -3.1%
1963 10.04%
1962 7.55%
1961 8.14%
Singapore GDP Annual Growth Rate : Definition
GDP Annual Growth Rate measures the yearly percentage change in Singapore's total economic output.
Indicator Last Value Prior Value Period
GDP $547.39B $505.44B 2024
GDP Growth Rate (QoQ) 1.3% 1.5% Sep'25
GDP Growth Rate (YoY) 2.9% 4.5% Sep'25
GDP per Capita $67,706.83 $66,167.36 2024
GDP per Capita PPP $132,569.5 $129,555.2 2024
R&D Expenditure (% GDP) 2.16% 1.88% 2020
Real GDP $408.74B $391.56B 2024