[ Nominal GDP in billions of USD ]
Year -
$547.39 billions
Singapore GDP expanded from 1960 to 2024, increasing from $0.70 billion to $547.39 billion.The compound annual growth rate (CAGR) averaged 10.97% over the period. The economy recorded its peak level in 2024 and its lowest level in 1960. Growth volatility remained high. The maximum drawdown reached 14.37%, indicating the largest cyclical decline from peak levels. The country experienced 7 recession episode(s) during the observed period.
| Metric | Nominal GDP (Current USD) | GDP (PPP, Int$) |
|---|---|---|
| Latest Year | 2024 | 2024 |
| Latest GDP | $ 547.39 Billions | $ 909.69 Int Billions |
| Growth (YoY) | 8.299% | 6.912% |
| Net Change vs Previous Year | $ 41.95 Billion | $ 58.81 Int Billion |
| % of World GDP | 0.49% | 0.46% |
| Meaning | Nominal GDP (Current USD, exchange-rate based) | GDP (PPP, cost-of-living adjusted) |
| Nominal | PPP | |||||
|---|---|---|---|---|---|---|
| Year | Bil $ | Net Chg | % Chg | Int Bil $ | Net Chg | % Chg |
| 1960 | 0.7 | - | - | - | - | - |
| 1961 | 0.76 | 0.06 | 8.496 % | - | - | - |
| 1962 | 0.83 | 0.06 | 8.057 % | - | - | - |
| 1963 | 0.92 | 0.09 | 11.058 % | - | - | - |
| 1964 | 0.89 | -0.02 | -2.556 % | - | - | - |
| 1965 | 0.97 | 0.08 | 9.002 % | - | - | - |
| 1966 | 1.1 | 0.12 | 12.495 % | - | - | - |
| 1967 | 1.24 | 0.14 | 12.916 % | - | - | - |
| 1968 | 1.43 | 0.19 | 15.159 % | - | - | - |
| 1969 | 1.66 | 0.23 | 16.426 % | - | - | - |
| 1970 | 1.92 | 0.26 | 15.705 % | - | - | - |
| 1971 | 2.26 | 0.34 | 17.87 % | - | - | - |
| 1972 | 2.72 | 0.46 | 20.216 % | - | - | - |
| 1973 | 3.7 | 0.97 | 35.818 % | - | - | - |
| 1974 | 5.22 | 1.53 | 41.267 % | - | - | - |
| 1975 | 5.63 | 0.41 | 7.893 % | - | - | - |
| 1976 | 6.33 | 0.69 | 12.308 % | - | - | - |
| 1977 | 6.62 | 0.29 | 4.607 % | - | - | - |
| 1978 | 7.52 | 0.9 | 13.577 % | - | - | - |
| 1979 | 9.3 | 1.78 | 23.676 % | - | - | - |
| 1980 | 11.9 | 2.6 | 27.959 % | - | - | - |
| 1981 | 14.18 | 2.28 | 19.157 % | - | - | - |
| 1982 | 16.08 | 1.91 | 13.467 % | - | - | - |
| 1983 | 17.78 | 1.7 | 10.568 % | - | - | - |
| 1984 | 19.75 | 1.97 | 11.051 % | - | - | - |
| 1985 | 19.16 | -0.59 | -3.002 % | - | - | - |
| 1986 | 18.59 | -0.57 | -2.974 % | - | - | - |
| 1987 | 20.92 | 2.33 | 12.549 % | - | - | - |
| 1988 | 25.37 | 4.45 | 21.283 % | - | - | - |
| 1989 | 30.47 | 5.09 | 20.077 % | - | - | - |
| 1990 | 36.14 | 5.68 | 18.641 % | 72.57 | - | - |
| 1991 | 45.47 | 9.32 | 25.791 % | 80.04 | 7.47 | 10.296 % |
| 1992 | 52.13 | 6.67 | 14.66 % | 87.3 | 7.26 | 9.07 % |
| 1993 | 60.6 | 8.47 | 16.252 % | 99.61 | 12.31 | 14.102 % |
| 1994 | 73.69 | 13.08 | 21.591 % | 113.03 | 13.41 | 13.467 % |
| 1995 | 87.81 | 14.12 | 19.167 % | 123.68 | 10.65 | 9.423 % |
| 1996 | 96.29 | 8.48 | 9.658 % | 135.35 | 11.67 | 9.439 % |
| 1997 | 100.12 | 3.83 | 3.978 % | 149.13 | 13.78 | 10.184 % |
| 1998 | 85.73 | -14.4 | -14.378 % | 147.51 | -1.63 | -1.092 % |
| 1999 | 86.29 | 0.56 | 0.652 % | 158.15 | 10.64 | 7.214 % |
| 2000 | 96.08 | 9.79 | 11.346 % | 176.35 | 18.2 | 11.508 % |
| 2001 | 89.79 | -6.28 | -6.539 % | 178.39 | 2.04 | 1.157 % |
| 2002 | 92.54 | 2.74 | 3.057 % | 188.27 | 9.88 | 5.538 % |
| 2003 | 97.65 | 5.11 | 5.52 % | 200.71 | 12.45 | 6.612 % |
| 2004 | 115.03 | 17.39 | 17.807 % | 226.6 | 25.89 | 12.896 % |
| 2005 | 127.81 | 12.77 | 11.105 % | 250.92 | 24.32 | 10.733 % |
| 2006 | 148.63 | 20.82 | 16.289 % | 281.95 | 31.04 | 12.369 % |
| 2007 | 180.94 | 32.32 | 21.742 % | 315.72 | 33.76 | 11.975 % |
| 2008 | 193.62 | 12.68 | 7.005 % | 327.8 | 12.08 | 3.826 % |
| 2009 | 194.15 | 0.53 | 0.275 % | 330.24 | 2.44 | 0.746 % |
| 2010 | 239.81 | 45.66 | 23.517 % | 382.79 | 52.55 | 15.911 % |
| 2011 | 279.36 | 39.55 | 16.492 % | 414.97 | 32.18 | 8.406 % |
| 2012 | 295.09 | 15.74 | 5.633 % | 436.19 | 21.23 | 5.115 % |
| 2013 | 307.58 | 12.48 | 4.23 % | 448.61 | 12.42 | 2.846 % |
| 2014 | 314.86 | 7.29 | 2.369 % | 462.49 | 13.89 | 3.096 % |
| 2015 | 308 | -6.86 | -2.18 % | 482.41 | 19.92 | 4.306 % |
| 2016 | 319.65 | 11.65 | 3.782 % | 504.11 | 21.7 | 4.497 % |
| 2017 | 343.67 | 24.03 | 7.517 % | 537.34 | 33.24 | 6.593 % |
| 2018 | 377.12 | 33.45 | 9.733 % | 586.22 | 48.88 | 9.096 % |
| 2019 | 376.16 | -0.96 | -0.255 % | 600.79 | 14.57 | 2.486 % |
| 2020 | 349.17 | -27 | -7.177 % | 577.21 | -23.57 | -3.924 % |
| 2021 | 436.59 | 87.43 | 25.038 % | 723.24 | 146.02 | 25.298 % |
| 2022 | 509.02 | 72.43 | 16.589 % | 806.63 | 83.39 | 11.53 % |
| 2023 | 505.44 | -3.58 | -0.703 % | 850.88 | 44.25 | 5.485 % |
| 2024 | 547.39 | 41.95 | 8.299 % | 909.69 | 58.81 | 6.912 % |
Between 1960 to 2024, Singapore experienced the following economic phases:
The most remarkable growth occurred in 1974 with an increase of 41.267%, while the largest decline was in 1998 at -14.378%.