SINGAPORE
ECONOMY
GDP2023

at Current

Market Prices

S$ 0 Mil

Per Capita GDP at Current Market Prices

S$0

Real GDP Growth

0%
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Nominal GDP
2023
Over 70% of nominal value added was generated by the services industries, while about 25% was generated by the goods producing industries.
Gross Domestic Product (GDP) refers to the aggregate value of the goods and services produced within the economic territory of Singapore.
GDP estimates are compiled by the output, expenditure and income approaches.
The output approach is the main approach used to compile GDP in Singapore. More about Industry Breakdown for Output-Based GDP.
Expenditure-Based
GDP
Income-Based
GDP
Change in Value Added per Worker
In Chained (2015) Dollars in 2023
0.0
%

Stock of Singapore's Direct Investment

Abroad in 2022

Total S$1,395.4 Bil

MAINLAND CHINA
NETHERLANDS
UNITED KINGDOM
INDIA
HONG KONG

Stock of Foreign Direct Investment in

Singapore in 2022

TotalS$2,619.0 Bil

UNITED STATES
CAYMAN ISLANDS
JAPAN
BRITISH VIRGIN ISLANDS
UNITED KINGDOM
Singapore's Enterprise Landscape 2023
ENTERPRISE COUNT
TOTAL
311,100
EMPLOYMENT
TOTAL
3.71 Mil
NOMINAL VALUE ADDED
TOTAL
S$615.7 Bil
Enterprise Size
SMEs%
Non-SMEs%
Enterprise Ownership
Majority Local-owned%
Majority Foreign-owned%
Enterprise Size
SMEs %
Non-SMEs %
Enterprise Ownership
Majority Local-owned %
Majority Foreign-owned %
Enterprise Size
SMEs %
Non-SMEs %
Enterprise Ownership
Majority Local-owned %
Majority Foreign-owned %
  1. Enterprises include business entities, non-profit organisations, ministries, statutory boards, and government / government-aided schools.
  2. SMEs (i.e. Small & Medium Enterprises) are defined as enterprises with operating revenue not more than $100mil or employment not more than 200 workers.
  3. Non-SMEs are defined as enterprises with operating revenue more than $100mil and employment more than 200 workers. It also includes ministries, statutory boards, and government / government-aided schools.
  4. Majority local-owned enterprises refer to enterprises with at least 50% local equity. Majority foreign-owned enterprises refer to enterprises with less than 50% local equity.
  5. Employment of enterprises refers to total employment excluding migrant domestic workers.
  6. Value-added of enterprises refers to Gross Value Added (GVA) less ownership of dwellings.
  7. Data may not add up due to rounding.

Top 6 Trading Partners

for Services Trade in 2022

  1. UNITED STATES
    S$154.2 Bil
  2. EU-27
    S$98.4 Bil
  3. MAINLAND CHINA
    S$68.8 Bil
  4. ASEAN
    S$60.4 Bil
  5. JAPAN
    S$59.8 Bil
  6. AUSTRALIA
    S$47.8 Bil
Total International Trade in Services 2023
S$0.0 Bil
Total Services Exports - 2023S$0.0 Bil
Total Services Imports - 2023S$0.0 Bil
S$638.4 Bil
Total Exports
S$0.0Bil
Total Merchandise Trade in 2023
S$567.3 Bil
Total Imports
TOP 6 TRADING PARTNERS
S$167.0 Bil
MAINLAND CHINA
S$129.1 Bil
UNITED STATES
S$123.6 Bil
MALAYSIA
S$105.3 Bil
EU
S$92.9 Bil
TAIWAN
S$70.7 Bil
HONG KONG
Changes in Prices of Imported &
Exported Goods in 2022
Import Price Index
2022 over 2021 Year-on-Year Change
0%
Export Price Index
2022 over 2021 Year-on-Year Change
0%
icon lampMore about theImport and Export Price Indices
Do You Know? in 2023...
US$1
S$1.32
£1
S$1.68
€1
S$1.46
100*
S$0.93
2.4 Mil
Resident Labour Force
%
Resident LFPR
LFPR = Labour Force Participation Ratei
43.6 Hrs
Average Weekly Paid Hours Worked
132
Banks operating
in Singapore
6.1 Mil
Principal
Card Holders
1.0 Mil
Supplementary
Card Holders
9.7 Mil
Mobile Phone Subscription
3.2 Mil
MRT Average Daily Ridership
13.6 Mil
International Visitor Arrivals
S$14.2 Bil
Tourism Receipts
5,560
Restaurants
740
Fast Food Outlets
* Refers to Japanese Yen.
   
Refers to 2022 Data
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Note: numbers may not add up to the totals due to rounding

Updated in May 2024

For more information, please refer to the Themes Page

https://www.singstat.gov.sg/find-data/search-by-theme