Singapore GDP annual growth rates and STI (1997 to 2014)

Annual growth rates for Singapore real Gross Domestic Product (GDP) are mapped to the Straits Times Index (STI) at the end of each year.

This table shows real GDP growth rates since 1997 with the latest 2014 performance.

Year GDP growth rate (%) STI
1997 + 8.3 1529
1998 – 2.2 1392
1999 + 6.1 2479
2000 + 8.9 1926
2001 – 1.0 1623
2002 + 4.2 1341
2003 + 4.4 1764
2004 + 9.5 2066
2005 + 7.5 2347
2006 + 8.9 2985
2007 + 9.1 3482
2008 + 1.8 1761
2009 – 0.6 2897
2010 + 15.2 3190
2011 + 6.2 2646
2012 + 3.4 3167.08
2013 + 4.4 3167.43
2014 + 2.9 3365.15

Source: Singapore Department of Statistics (for GDP numbers)
Afternote: GDP for 2014 was 2.9%.

GDP for 2014

For the whole year, GDP grew just 2.9%. This was weaker than 2013 of 4.4%. The STI however was up 6.2% from 2013, running ahead of economic growth in the year.

Forecast for 2015

The GDP forecast made by the Ministry of Trade and Industry for 2015 was between 2.0% to 4.0%.

As for inflation, the Monetary Authority of Singapore (MAS) in its Monetary Policy Statement (14 October 2014) forecast CPI-All Items inflation (headline inflation) for 2015 to be 0.5% to 1.5%. MAS Core Inflation (that excludes private road transport and accommodation costs) is forecast 2% to 3%.

Copyright © 2015, limkimtong for Living Investment

The material presented is intended to be general and written in layman’s language as much as it is possible. The author shall not be liable for any direct or consequential loss arising from any use of material written. Please seek professional advice from your financial advisor or financial institutions on material written covering financial matters.

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