2017 Economic Calendar
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Singapore : GDP  
Released On 1/2/2017 7:00:00 PM For Q4(a):2016
PriorPrior RevisedConsensusActual
Q/Q-2.0 %-1.9 %3.7 %9.1 %
Yr/Yr1.1 %1.2 %0.6 %1.8 %

Highlights
Advance estimates for Singapore's gross domestic product showed an increase of 9.1 percent quarter-on-quarter in the three months to December, well above the consensus forecast for an increase of 3.7 percent. If confirmed by subsequent estimates, this will be the strongest increase in GDP since mid-2013 and a solid rebound from the fall of 1.9 percent recorded in the three months to September.

Year-on-year growth in Singapore's GDP accelerated from 1.2 percent in the three months to September to 1.8 percent in the three months to December, again well above the consensus forecast of 0.6 percent.

This pick-up in headline GDP growth was mainly driven by the manufacturing sector, which saw quarter-on-quarter growth increase from minus 8.1 percent to 14.6 percent and year-on-year growth increase from 1.7 percent to 6.5 percent. Manufacturing performance was boosted by the strong growth in the biomedical industry (where output is often volatile) and the electronics industry, outweighing weakness elsewhere in the sector. Growth also picked up in the services sector. Singapore's construction sector posted stronger quarter-on-quarter growth in the three months to September but weaker year-on-year growth.

Advance GDP estimates are mainly computed using data from the first two months of the quarter. Revised GDP estimates for the quarter, incorporating more comprehensive data, will be published in February.

Definition
GDP refers to the aggregate value of the goods and services produced in the economic territory of Singapore. GDP estimates are compiled by the output, expenditure and income approaches. Output-based GDP refers to the sum of gross value added generated by economic activities in the domestic economy. Expenditure-based GDP refers to the sum of private consumption expenditure of households including non-profit institutions serving households, government consumption expenditure, gross capital formation and net exports of goods and services. Income-based GDP refers to the sum of incomes receivable by each institutional sector from the domestic production of goods and services which includes compensation of employees, gross operating surplus and taxes (less subsidies, if any) on production and on imports
In order to compare the real value of output/expenditure over time, it is necessary to remove the effect of price changes. This is achieved by selecting the price structure of 2010 as the base according to which the goods and services in other years are re-valued. The resulting aggregates after adjustment for price changes are known as constant-price estimates.
The advance GDP estimates are computed largely from data in the first two months of the quarter (e.g. 1st Quarter is based on Jan and Feb; 2nd Quarter is based on Apr and May). They are intended as early estimates of GDP growth in the quarter, and are subject to revision when more comprehensive data become available.  Why Investors Care
 

2017 Release Schedule
Released On: 1/22/164/125/247/138/1010/1211/23
Release For: Q4(a):2016Q4(f):2016Q1(a):2017Q1(f) 2017Q2 2017Q2 2017Q3 2017Q3 2017
 


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