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National Income Estimates

Singapore adopts the output, expenditure and income approaches for compiling the national income aggregates. The concepts, definitions and methodology given in the United Nations’ publication “System of National Accounts, 2008” (SNA) are closely followed.

National Accounts

A significant improvement in the latest benchmarking of Singapore’s national accounts from reference year 2010 to 2015 is the adoption of the SNA recommendation to compile annually reweighted chain volume measures (CVM) of GDP.  

Find out more on the chain linking of real GDP from the video in the 'Visualising Data' section below.

Data

Please click on the topic to view the available data tables.

View latest data:

Key Indicators
Items Unit Latest Period Latest Data % Change
(Y-o-Y)  1/		 Previous
Period Data		 % Change
(Y-o-Y)  2/
National Accounts            
GDP at Current Market Prices S$m Q2/23 162,958.0 -0.8 159,141.8 1.4
GDP in Chained (2015) Dollars S$m Q2/23 130,366.4 0.5 129,756.2 0.4
GDP at Current Market Prices S$m 2022  643,545.8 13.0 569,364.2 18.4
GDP in Chained (2015) Dollars S$m 2022 522,032.9 3.6 503,664.4 8.9
Items Unit Latest Period Latest Data % Change
(Y-o-Y)  1/		 Previous
Period Data		 % Change
(Y-o-Y)  2/
Per Capita GDP S$ 2022 114,165  9.4 104,402 23.5
Per Capita GNI S$ 2022 95,787  9.7 87,308  19.5
Gross Fixed Capital Formation at Current Prices S$m 2022 132,830.3 8.7 122,178.4 22.1
Public Sector S$m 2022  23,698.4 9.3 21,681.3 27.7
Private Sector S$m 2022 109,132.0 8.6 100,497.1 21.0
Gross National Saving S$m 2022 265,485.9 13.5  234,011.2 24.6 

Data are preliminary when first released.
1 Refers to % change in latest period over the same period in the previous year.
2 Refers to % change in the previous period over the same period in the previous year.

Gross Domestic Product

Title : Gross Domestic Product At Current Prices, By Industry (SSIC 2020), Annual

Million Dollars

Data Items

2015
2016
2017
2018
2019
2020
2021
2022

GDP At Current Market Prices

423,444.1
440,754.7
474,034.1
508,337.4
514,066
480,691.2
569,364.2
643,545.8

Goods Producing Industries

102,984.3
102,541.5
111,601
129,201.3
123,787
112,345.3
138,899.6
155,642

Services Producing Industries

278,103
294,041.4
316,123.1
334,807.1
345,882.5
327,389.5
381,222.5
436,069.1

Ownership Of Dwellings

18,100.1
17,589.4
17,436.2
17,751
18,453
18,785.1
18,912.9
19,904.4

Gross Value Added At Basic Prices

399,187.4
414,172.3
445,160.3
481,759.4
488,122.5
458,519.9
539,035
611,615.5

Add:Taxes On Products

24,256.7
26,582.4
28,873.8
26,578
25,943.5
22,171.3
30,329.2
31,930.3
SOURCE : SINGAPORE DEPARTMENT OF STATISTICS
Footnotes

Data may not add up to the total due to rounding. For more information on national accounts methodologies, please visit Singstat website (www.singstat.gov.sg/find-data/search-by-theme/economy/national-accounts/publications-and-methodology) to view and download related publications.

Gross Domestic Product At Current Prices, By Industry (SSIC 2020), Annual
Gross Domestic Product In Chained (2015) Dollars, By Industry (SSIC 2020), Annual
Gross Domestic Product Deflators (2015 = 100), By Industry (SSIC 2020), Annual

Download all in Excel  (47 KB)

Expenditure on Gross Domestic Product

Title : Expenditure On Gross Domestic Product At Current Prices, Annual

Million Dollars

Data Items

2015
2016
2017
2018
2019
2020
2021
2022

GDP At Current Market Prices

423,444.1
440,754.7
474,034.1
508,337.4
514,066
480,691.2
569,364.2
643,545.8

Private Consumption Expenditure

157,343.7
160,693.9
166,819.4
175,316.9
181,589.6
154,745.9
167,840.4
192,097.5

Government Consumption Expenditure

43,152.8
45,210.1
48,309.9
50,724.4
52,653.5
58,799.9
61,373.7
64,463.3

Gross Fixed Capital Formation

115,271.1
114,629.9
119,697.9
113,957.5
117,371
100,072.1
122,178.4
132,830.3

Changes In Inventories

-7,914.5
1,925.7
9,673.3
11,907.7
9,073.3
8,666.5
9,225.3
8,245.6

Net Exports Of Goods And Services

115,591
115,510.8
126,338
149,977.4
151,574.3
149,991.9
200,787.6
233,238

Exports Of Goods And Services

755,359.1
725,799.6
813,274.8
901,538.6
902,671.3
874,803.2
1,049,352
1,200,551.2

Exports Of Goods

544,736.4
515,578.5
576,031.2
621,662.3
602,840.4
579,410.1
691,271.1
799,006.8

Exports Of Services

210,622.7
210,221.1
237,243.6
279,876.3
299,830.9
295,393.1
358,080.9
401,544.4

Imports Of Goods And Services

639,768.1
610,288.8
686,936.8
751,561.2
751,097
724,811.3
848,564.4
967,313.2

Imports Of Goods

417,468.5
391,401.6
436,656.1
480,792.9
469,388
432,584.2
522,331.4
610,770

Imports Of Services

222,299.6
218,887.2
250,280.7
270,768.3
281,709
292,227.1
326,233
356,543.2

Statistical Discrepancy

0
2,784.3
3,195.6
6,453.6
1,804.4
8,414.9
7,958.8
12,671.1
SOURCE : SINGAPORE DEPARTMENT OF STATISTICS
Footnotes

Data may not add up to the total due to rounding. For more information on national accounts methodologies, please visit Singstat website (www.singstat.gov.sg/find-data/search-by-theme/economy/national-accounts/publications-and-methodology) to view and download related publications. Exports and Imports of Goods are recorded on a free-on-board (f.o.b.) basis, that is, the value of goods when sold abroad up to the point where the goods are deposited on board the outgoing vessel, aircraft or vehicle.

Expenditure On Gross Domestic Product At Current Prices, Annual
Expenditure On Gross Domestic Product In Chained (2015) Dollars, Annual
Expenditure On Gross Domestic Product Deflators (2015 = 100), Annual

Download all in Excel  (28 KB)

Income Components of Gross Domestic Product at Current Prices

Title : Income Components Of Gross Domestic Product At Current Prices, Annual

Million Dollars

Data Items

2015
2016
2017
2018
2019
2020
2021
2022

GDP At Current Market Prices

423,444.1
440,754.7
474,034.1
508,337.4
514,066
480,691.2
569,364.2
643,545.8

Compensation Of Employees

177,686.9
184,488.1
190,377.2
198,226.6
204,811.4
205,252.8
217,296.7
237,950.3

Gross Operating Surplus

214,469
221,519.9
244,972.3
277,173
273,538
271,710.6
330,139.5
375,162.5

Taxes Less Subsidies On Production & On Imports

31,288.2
34,590.2
37,535.3
35,713.2
35,588.9
3,069.8
26,468.6
37,414.8

Other Taxes Less Subsidies On Production

7,031.5
8,007.8
8,661.5
9,135.2
9,645.4
-19,101.5
-3,860.6
5,484.5

Taxes On Products

24,256.7
26,582.4
28,873.8
26,578
25,943.5
22,171.3
30,329.2
31,930.3

Statistical Discrepancies

0
156.5
1,149.3
-2,775.4
127.7
658
-4,540.6
-6,981.8
SOURCE : SINGAPORE DEPARTMENT OF STATISTICS
Footnotes

For more information on national accounts methodologies, please visit Singstat website (www.singstat.gov.sg/find-data/search-by-theme/economy/national-accounts/publications-and-methodology) to view and download related publications.

Income Components Of Gross Domestic Product At Current Prices, Annual

Personal Disposable Income and Personal Saving

Personal Disposable Income At Current Prices, Quarterly

Visualising Data

View and explore data with the latest visualisations:

Introduction to Chain-linking of Real Gross Domestic Product

Gross Domestic Product Dashboard

Personal Disposable Income and Personal Saving

Personal Disposable Income and Personal Saving

Definitions

Visit Glossary Page

Other References

National Accounts
Benchmarking of Singapore’s National Accounts to Reference Year 2015 View
Rebasing of Singapore’s National Accounts to Reference Year 2010 View
Rebasing of Singapore’s National Accounts to Reference Year 2005 View
Rebasing of Singapore’s National Accounts to Reference Year 2000 View
Rebasing of the Singapore System of National Accounts to Reference Year 1995 View
Economic Survey of Singapore View