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:

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 should you wish to find out more about these data offerings, pricing and the different platforms by which you can access them.