Singapore: economy

What is Singapore's GDP growth rate?

Singapore's GDP grew 5.4% year on year in the third quarter of 2026, according to advance estimates from the Ministry of Energy, Trade & Industry cited by the Monetary Authority of Singapore (MAS) on 14 October 2026. Seasonally adjusted, GDP grew 1.1% on the previous quarter. In the second quarter, growth was 5.9%, according to the Department of Statistics (SingStat).

Advance estimates are early figures and are revised when fuller data arrive. MAS said growth was led by technology-related sectors, supported by strong orders for AI products.

Official sources: MAS: monetary policy statement, 14 October 2026 · SingStat: contribution to GDP growth, quarterly

What is the inflation rate in Singapore?

Consumer prices in Singapore were 2.3% higher in August 2026 than a year earlier, according to the Department of Statistics (SingStat). Inflation was 2.2% in July and 1.9% in June. Food prices were 2.3% higher.

The Monetary Authority of Singapore also tracks core inflation, which leaves out accommodation and private transport costs; it was 2.1% in July–August. MAS forecasts headline inflation of around 2.0% for 2026 as a whole, and core inflation of 1.5–2.0%.

Official sources: SingStat: CPI, percent change on a year earlier, monthly · MAS: monetary policy statement, 14 October 2026

How does Singapore set interest rates?

The Monetary Authority of Singapore (MAS) decided on 14 October 2026 to keep the rate of appreciation of its exchange rate policy band unchanged, with no change to the width of the band or the level at which it is centred. It had raised the rate of appreciation very slightly in July 2026.

Unlike most central banks, MAS does not set a policy interest rate. It manages the Singapore dollar against a basket of trading partners' currencies (the S$NEER) within a band, The S$NEER is the trade-weighted exchange rate of the Singapore dollar. MAS said the current appreciating band will allow the S$NEER to keep strengthening and lean against rising imported inflation.

Official sources: MAS: monetary policy statement, 14 October 2026

Is Singapore's economy growing?

In 2025, real GDP growth in Singapore was 5.0%, according to the World Bank. Its high point since 2005 was 2010, at 14.5%; its low point was 2020, at -3.6%. Across East Asia & Pacific the middle value was 3.6%, and Singapore placed 9th highest of 29. Worldwide: 44th of 180.

How rich is Singapore per person?

$98,814: that is GDP per person in Singapore for 2025, according to the World Bank. No year since 2005 has been higher. Across East Asia & Pacific the middle value was $6,547, and Singapore placed 1st highest of 29. World rank, highest first: 4th of 180.

What is Singapore's GDP per capita at PPP?

The latest figure from the World Bank, for 2025, is $163,354 in international dollars. It is the top of the series, which starts in 2005. Across East Asia & Pacific the middle value was $14,200 in international dollars, and Singapore placed 1st highest of 29. World rank, highest first: 1st of 179.

How much does Singapore export?

The World Bank puts exports of goods and services in Singapore at 177.9% of GDP in 2025. The peak was 229.0% of GDP in 2008 and the low 163.8% of GDP in 2016. It is 1st highest of 16 in East Asia & Pacific, where the median is 53.8% of GDP. World rank, highest first: 2nd of 133.

What is Singapore's current account balance?

According to the IMF, the current account balance in Singapore was 16.7% of GDP in 2025. The peak was 27.1% of GDP in 2007 and the low 15.1% of GDP in 2008. It is 2nd highest of 19 in East Asia & Pacific, where the median is 1.6% of GDP. Of 132 countries with 2025 data, 5th highest.

What is FDI in Singapore?

The IMF puts net inflows of foreign direct investment in Singapore at 26.3% of GDP in 2025. Since 2005 it has ranged from 7.0% of GDP (2008) to 32.3% of GDP (2021). East Asia & Pacific median: 1.9% of GDP; Singapore is 1st highest of 28. World rank, highest first: 6th of 179.

What interest rate do banks charge in Singapore?

In 2021, the average bank lending rate in Singapore was 5.2%, according to the IMF. No year since 2005 has been lower. East Asia & Pacific median: 7.6%; Singapore is 12th highest of 17. Worldwide: 85th of 106.