SINGAPORE ECONOMY

GDP 2021 at Current

Market Prices

S$ 533,352 Mil
Per Capita GDP at
Current Market Prices Real GDP Growth

$97,798 7.6%

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10.5% 3.8%
Ownership of
Other Services
Dwellings
Industries

22.3%
3.6% Manufacturing
Administrative &
Support Services

Go
od
sP
ro
du
ci
ng

5.8%
In

2.9%
du

Nominal GDP
str

2021
Professional
ies

Services Construction
S e r v ic e s P r o d u ci n

2.9% 1.2%
Real Estate Utilities
g In
du
st
rie
s

17.9%
14.6% Wholesale Trade
Finance &
Insurance

1.4%
5.6% Retail Trade
Information &
Communications
0.9% 6.1%
Food & 0.5% Transportation &
Beverage Accommodation Storage
Services

Close to 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.
 4.9%
Taxes Less Subsidies
on Production &
on Imports

31.5%
31.9% Private
Net Exports of Goods Consumption

39.4%
& Services Expenditure

Compensation
of Employees

Expenditure-Based Income-Based
GDP GDP

1.2%
Changes in
Inventories

11.8%
Government
55.7%
23.6% Consumption
Expenditure Gross Operating
Gross Fixed Surplus
Capital Formation

Change in Value Added per Worker

In Chained (2015) Dollars in 2021
9.5

Stock of Singapore’s Direct Investment

Abroad in 2020 Preliminary Data Total
S$1,039.5 Bil

S$152.0 Bil
MAINLAND CHINA

S$104.7 Bil
NETHERLANDS

S$66.1 Bil
INDIA

S$64.9 Bil
UNITED KINGDOM

S$63.7 Bil
INDONESIA
 Stock of Foreign Direct Investment in
Singapore in 2020 Total
S$2,141.8 Bil

S$528.7 Bil
UNITED STATES

S$246.7 Bil
CAYMAN ISLANDS

S$163.6 Bil
BRITISH VIRGIN
ISLANDS

S$139.9 Bil
JAPAN

S$127.0 Bil
UNITED KINGDOM

Number, Employment and Value Added

of Enterprises in 2021
ENTERPRISE COUNT EMPLOYMENT NOMINAL VALUE ADDED

TOTAL TOTAL TOTAL

291,600 3.40 Mil S$484 Bil

SMEs SMEs SMEs
Non-SMEs Non-SMEs Non-SMEs
99% 1% 71% 29% 44% 56%

Enterprise Enterprise Enterprise

Size Size Size

Majority Majority Majority Majority Majority Majority

Local- Foreign- Local- Foreign- Local- Foreign-
owned owned owned owned owned owned

80% 20% 67% 33% 33% 67%

Enterprise Enterprise Enterprise
Ownership Ownership Ownership

1. Enterprises comprise companies, businesses, non-profit organisations, ministries, statutory boards and
government/government-aided schools.

2. SMEs (i.e. Small & Medium Enterprises) are defined as enterprises with operating receipts not more than $100mil or
employment not more than 200 workers.

3. 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.

4. Employment of enterprises refers to total employment excluding migrant domestic workers.

5. Value-added of enterprises refers to Gross Value Added (GVA) less ownership of dwellings.

6. Numbers may not add up to the totals due to rounding.

 Top 6 Trading Partners
for Services Trade in 2020
Total International Trade
in Services 2021

S$609.2 Bil
UNITED STATES S$101.8 Bil

EU27 S$67.2 Bil Total Services

Exports - 2021
S$308.8 Bil
JAPAN S$43.8 Bil
Total Services
MAINLAND CHINA S$40.0 Bil Imports - 2021
S$300.4 bil
AUSTRALIA S$31.1 Bil

HONG KONG S$28.7 Bil

S$1,160.0 Bil
S$614.1 Bil Total Merchandise S$545.9 Bil
Total Exports Total Imports
Trade in 2021

TOP 6 TRADING PARTNERS

S$164.3 Bil S$128.7 Bil S$105.7 Bil S$102.0 Bil S$99.9 Bil S$85.1 Bil

MAINLAND MALAYSIA UNITED STATES EU TAIWAN HONG KONG

CHINA
Changes in Prices of Imported &
Exported Goods in 2021

Import Price Index Export Price Index

2021 over 2020 Year-on-Year Change 2021 over 2020 Year-on-Year Change

11.6% 11.3%

2.4% 0.4%

FOOD & LIVE ANIMALS FOOD & LIVE ANIMALS

8.7% 1.9%

BEVERAGES & TOBACCO BEVERAGES & TOBACCO

2.9% 22.1%

CRUDE MATERIALS CRUDE MATERIALS

58.5% 54.3%

MINERAL FUELS & MINERAL FUELS &

RELATED MATERIALS RELATED MATERIALS

45.1% 17.2%

ANIMAL & VEGETABLE OILS ANIMAL & VEGETABLE OILS

6.3% 10.1%

CHEMICALS & CHEMICALS &

CHEMICAL PRODUCTS CHEMICAL PRODUCTS

10.1% 12.8%

MANUFACTURED GOODS MANUFACTURED GOODS

-1.4% 3.8%

MACHINERY & TRANSPORT MACHINERY & TRANSPORT

EQUIIPMENT EQUIIPMENT

0.4% -3.3%

MISCELLANEOUS MANUFACTURED MISCELLANEOUS MANUFACTURED

ARTICLES ARTICLES

More about the Import and Export Price Indices.

Do You Know? In 2021…

LFPR = Labour Force Participation Rate

S$1.35 S$1.82

* 2.4 Mil
70.5%
Resident LFPR
44.2 Hrs
Average Weekly
S$1.53 S$1.17 Resident Labour
Paid Hours
Worked
Force

5.4 Mil Principal

131
Card Holders

Banks Operating
in Singapore
1.1 Mil Supplementary 8.7 Mil 2.0 Mil MRT Average Daily Ridership
Card Holders Mobile Phone Subscriptions

0.3 Mil International Visitor Arrivals

S$4.8 Bil Tourism Receipts 5,200

Restaurants
738
Fast Food Outlets

* Refers to Japanese Yen Refers to 2020 Data

Note: numbers may not add up to the totals due to rounding

Updated in Apr 2022
For more information, please refer to the Themes Page
https://www.singstat.gov.sg/find-data/search-by-theme