AEIR 2019/2020

GDP growth moderated from 3.9% in 2017 to 3.2% in 2018 as expansion in manufacturing and services slowed and domestic demand weakened. Services contributed 2.1 percentage points to growth. In April 2018, the Monetary Authority of Singapore tightened monetary policy, allowing the Singapore dollar to appreciate by 0.8% in nominal effective terms and by 2.3% against the US dollar in nominal terms. The trade surplus widened and current account surplus rose to reach the equivalent of 17.7% of GDP. Economic growth is expected to moderate further to 2.6% in 2019 and 2020 as the global growth slowdown and trade tensions affect manufacturing and export-oriented services.
Source: Asian Development Outlook 2019, ADB.
Latest Month-Ago Year-Ago
Composite Stock Price Index 1 3.0 (Feb20)3.0 3.0
Broad Money Growth 2 5.9 (Jan20)5.9 5.1
Headline Inflation Rate 3 0.8 (Dec19)0.6 0.5
Industrial/ Manufacturing Production Growth Rate 3 3.4 (Jan20)-3.7 4.6
Merchandise Export Growth 3 -5.0 (Jan20)-5.0 4.7
Exchange Rate Index 4 85.2 (Feb20)82.8 83.0
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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