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Tracking Asian Integration
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 (Apr18) | 3.0 | 3.0 |
| Broad Money Growth 2 | 2.8 (Mar18) | 2.8 | 3.7 |
| Headline Inflation Rate 3 | 0.2 (Mar18) | 0.5 | 0.7 |
| Industrial/ Manufacturing Production Growth Rate 3 | 5.9 (Mar18) | 6.7 | 11.2 |
| Merchandise Export Growth 3 | 6.0 (Mar18) | 6.0 | 6.0 |
| Exchange Rate Index 4 | 80.7 (Apr18) | 80.6 | 85.7 |
| 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. | |||
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