AEIR 2017

Singapore’s real GDP growth inched upwards to 2.0% in 2016, and grew by 2.7% in the first half of 2017. A sluggish manufacturing sector bounced back to life as electronics production revved up to meet a bigger global demand for IT products, but services grew by a meager 1.69% and weak investments were reflected in sluggish construction performance. Growth is envisioned to be 2.7% in 2017, and will continue be so in 2018 as domestic industries recover. Singapore’s fiscal policy stance in 2017 is mildly expansionary, as the budget continues to support the economy as it exits two consecutive years of tepid growth. Even as Singapore rides on the upswing in trade-related sectors amidst steady growth in the global environment and the improving business climate in developed countries, risks come in the form of uncertain global economic and policy environment.

Source: Asian Development Outlook 2017 Update, ADB
Latest Month-Ago Year-Ago
Composite Stock Price Index 1 3.0 (Feb18)3.0 3.0
Broad Money Growth 2 3.4 (Jan18)3.4 3.2
Headline Inflation Rate 3 0.0 (Jan18)0.4 0.6
Industrial/ Manufacturing Production Growth Rate 3 17.9 (Jan18)-3.4 4.0
Merchandise Export Growth 3 18.0 (Jan18)18.0 7.3
Exchange Rate Index 4 80.9 (Feb18)81.0 86.7
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.