AEIR 2018

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 (Dec18)3.0 3.0
Broad Money Growth 2 3.5 (Nov18)3.5 3.1
Headline Inflation Rate 3 0.3 (Nov18)0.7 0.6
Industrial/ Manufacturing Production Growth Rate 3 7.6 (Nov18)5.5 6.1
Merchandise Export Growth 3 4.8 (Nov18)4.8 18.7
Exchange Rate Index 4 84.0 (Dec18)84.3 82.5
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.

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