AEIR 2017

GDP growth accelerated to 3.6% in 2017 from 2.4% in 2016 on robust performances in manufacturing and services. After 2 consecutive years of deflation, CPI rose by 0.6% in 2017, as the costs of transport, education and food increased. Inflation will rise on higher food prices and excise taxes but remain moderate at 0.9% in 2018 and 1.4% in 2019. After a sharp pickup in 2017, GDP growth will slow only slightly to 3.1% in 2018 and 2.9% in 2019, supported by strong but moderating exports of manufactures while the current account surplus will expand along with GDP. Improving corporate capacity to innovate to ensure Singapore’s competitive spot is a key issue.

Source: Asian Development Outlook 2018, ADB
Latest Month-Ago Year-Ago
Composite Stock Price Index 1 3.0 (Jun18)3.0 3.0
Broad Money Growth 2 2.9 (May18)2.9 3.3
Headline Inflation Rate 3 0.4 (May18)0.1 1.4
Industrial/ Manufacturing Production Growth Rate 3 11.1 (May18)9.1 5.0
Merchandise Export Growth 3 14.7 (May18)14.7 16.9
Exchange Rate Index 4 82.7 (Jun18)82.1 84.8
1 Monthly average, local index.
2 %.
3 y-o-y, %.
4 Monthly average, January 2006 = 100, $/local currency.
Source: Bloomberg LP; CEIC database; Singapore Economic Development Board; International Entreprise Singapore.