Nominal GDP for Singapore was $547.5bn in 2024, up from $505.4bn in 2023. The Singaporean population was estimated at 5.8m in 2024 according to the IMF, while China is Singapore’s biggest trading partner.
Variables Surveyed for Singapore
Variables covered in our monthly analysis of Singapore include:
- Gross Domestic Product
- Private Consumption
- Gross Fixed Investment
- Manufacturing Production
- Consumer Prices
- Money Supply
- Unemployment Rate
- Merchandise Exports
- Merchandise Imports
- Trade Balance
- Current Account Balance
- Interest Rates
- Singaporean dollar Forecasts
Consensus Forecasts for Singapore
Individual panellist forecasts are shown for each of the variables surveyed, along with the consensus (mean) forecast. The rows of forecasts are ranked by the GDP growth estimate for the current year, highest to lowest. in the PDF publication, we also show selected “comparison forecasters” including the Asian Development Bank, and IMF. The example below is an illustrative historical survey snapshot from September 2022, showing how individual forecasts and the consensus are presented.
Source: Asia Pacific Consensus Forecasts, September 2022
Special Surveys
In addition to the regular surveys for the variables listed above we also undertake a number of Special Surveys for Singapore on topics such as:- Quarterly Forecasts
- Long-Term 5 and 10 Year Forecasts
- Economic Policy Evaluation
- Real Interest Rates and Foreign Direct Investment
- Forecast Probabilities
- Forecasts of Trade and Current Account Balances
Main Data Sources for Singapore
- Singapore Department of Statistics: The Singapore Department of Statistics (DOS) develops and maintains a national statistical service of quality, integrity and expertise. The National Statistical Office delivers insightful statistics and trusted statistical services that empower decision making. Its data are used by public sector agencies, policymakers, international agencies, businesses, researchers, analysts and the general public as vital inputs for monitoring economic and social trends, policy formulation and evaluation, planning and research, and international reporting.
- Monetary Authority of Singapore: The Monetary Authority of Singapore (MAS) is Singapore’s central bank and integrated financial regulator. MAS also works with the financial industry to develop Singapore as a dynamic international financial centre.
Comprehensive Forecasts Coverage
Consensus Economics has collected forecasts for more than 30 years, building up a comprehensive catalogue of historical forecasts data. Please enquire at editors@consensuseconomics.com should you wish to find out more about these data offerings, pricing and the different platforms by which you can access them.Explore forecasts across Asia Pacific
Alongside this country forecast, explore the other economies covered by our Asia Pacific forecast publication.