Singapore Economy Infographic

SINGAPORE

ECONOMY

GDP2024

at Current

Market Prices

S$ 0 Mil

Per Capita GDP at Current Market Prices

S$0

Real GDP Growth

Nominal GDP

2024

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 2024

0.0

Stock of Singapore's Direct Investment

Abroad in 2023iPreliminary Data

Total S$1,523.3 Bil

MAINLAND CHINA

INDIA

LUXEMBOURG

UNITED KINGDOM

INDONESIA

Stock of Foreign Direct Investment in

Singapore in 2023iPreliminary Data

TotalS$2,843.1 Bil

USA

CAYMAN ISLANDS

BRITISH VIRGIN ISLANDS

JAPAN

UNITED KINGDOM

Singapore's Enterprise Landscape 2024

ENTERPRISE COUNT

TOTAL

356,100

EMPLOYMENT

TOTAL

3.59 Mil

NOMINAL VALUE ADDED

TOTAL

S$662.3 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 %

Enterprises include incorporated or registered entities (such as company, sole-proprietorship, partnership, association or society, etc) and has revenue or employment in the reference period. Ministries, statutory boards, and government/government-aided schools are also included.
SMEs (i.e. Small & Medium Enterprises) are defined as enterprises with operating revenue not more than $100mil or employment not more than 200 workers.
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.
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.
Employment of enterprises refers to total employment excluding migrant domestic workers, own-account workers and contributing family workers.
Value-added of enterprises refers to Gross Value Added (GVA) less ownership of dwellings.
Data may not add up due to rounding.
Revisions to the estimates are due to the incorporation of additional data sources, and methodological reviews undertaken to align with international standards and best practices. Revisions to the employment estimates are also due to a refinement of the scope to exclude own-account workers and contributing family workers, whose business or trade are not incorporated or registered entities with a Unique Enterprise Number. This aligns with the scope of enterprises.