Singapore Economic Forecasts

Published monthly, Asia Pacific Consensus Forecasts offers a comprehensive outlook for the Singapore economy; covering 13 macroeconomic variables over a 2 year forecast horizon. Forecasts are provided by leading economists whose individual views are shown together with the average (mean) forecast. In addition, our analysis includes 4 years of historical data for these same variables as well as written analysis and charts. Furthermore, the publication provides Consensus Forecasts™ for the Singaporean dollar against the US dollar in 3, 12 and 24 months time.

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Singapore

Nominal GDP for Singapore was S$533.3bn in 2021, down from S$469.1bn in 2020. The Singaporean population was estimated at 5.9m in 2021 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
Non-Oil Domestic Exports

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 hard copy and pdf version of the publication, we also show selected “comparison forecasters” including the Asian Development Bank, and IMF. The table below shows a small example set of forecasts for GDP growth and Consumer Prices (CPI), taken from our survey of September 2022.

Source: Asia Pacific Conensus 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.

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