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 (Oct18)3.0 3.0
Broad Money Growth 2 3.5 (Sep18)3.5 3.6
Headline Inflation Rate 3 0.7 (Sep18)0.7 0.4
Industrial/ Manufacturing Production Growth Rate 3 -0.2 (Sep18)3.7 14.6
Merchandise Export Growth 3 9.6 (Sep18)9.6 12.8
Exchange Rate Index 4 84.6 (Oct18)84.0 83.3
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.