Statistical Concepts, Methods and IT Applications

Quarterly Estimates of Output-Based GDP at Current Prices (or Nominal GDP)

In recent years, there is an increasing demand for quarterly estimates of GDP at current prices (or nominal GDP). This demand is recognised explicitly in the IMF's Special Data Dissemination Standards (SDDS) which prescribe the dissemination of quarterly estimates of nominal GDP using any of the three approaches.

As the output approach is the main approach used to compile GDP in Singapore, the Singapore Department of Statistics (DOS) initiated in 1997 a project to develop and compile a consistent set of quarterly estimates of output-based nominal GDP. With the successful completion of the project, DOS will be releasing quarterly estimates of real and nominal GDP simultaneously. The availability of both facilitates the decomposition of changes in the total value of goods and services produced in the economy into price and quantity effects.

The framework and methodology used to compile the quarterly estimates of nominal GDP are provided in DOS's Information Paper, entitled "Quarterly Estimates of Output-Based GDP at Current Prices (or Nominal GDP)" pdf (58kb).