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The economy

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  • GDP at current market prices (2025): S$789.5 billion, up 3.1 per cent – Chapter G.I1
  • Real GDP growth (2025): 5.0 per cent, after 5.3 per cent in 2024 – Chapter K.VI2
  • Real GDP growth (second quarter of 2026): 5.9 per cent year on year, with an official forecast of 4.5 to 5.5 per cent for the full year 2026 – Chapter K.VI3
  • GDP per capita (2025): S$129,194 – Chapter K.VI4
  • Shares of nominal GDP by industry (2025): wholesale trade 19.7 per cent, manufacturing 18.5 per cent, finance and insurance 14.0 per cent – Chapters C.III and G.I5
  • Value added of finance and insurance (2025): S$104.2 billion, against S$99.3 billion in 2024 – Chapter G.I6
  • Value added of wholesale trade (2025): S$146.5 billion, about 18.6 per cent of GDP – Chapter G.I7
  • Total merchandise trade (2025): S$1,397.7 billion, of which exports S$739.4 billion and imports S$658.3 billion – Chapter G.I8
  • Non-oil domestic exports (2025): growth of 4.8 per cent – Chapter G.I9
  • Stock of foreign direct investment in Singapore (2024): S$3,130 billion, of which S$779 billion from the United States – Chapter C.III10
  • Investment commitments secured by the Economic Development Board (2025): S$14.2 billion in fixed asset investment, 15,700 expected jobs – Chapter C.III11
  • Chinese share of fixed asset investment commitments (2025): S$2.9 billion or 20.6 per cent, against 2.5 per cent in 2024 – Chapter I.II12
  • Regional headquarters in Singapore (2019): about 4,200 – Chapter I.I13
  • Corporate income tax rate (2026): 17 per cent – Chapters E.IV and I.I14
  • Implemented free trade agreements (August 2026): 29 – Chapter F.IV15

Notes

  1. Department of Statistics Singapore, “Latest News & Data – National Accounts” (singstat.gov.sg, opened November 2026): GDP at current market prices S$789,529.2 million in 2025, year-on-year change 3.1 per cent. ↩
  2. Department of Statistics Singapore, “Latest News & Data – National Accounts” (opened November 2026): GDP in chained (2015) dollars S$593,869.9 million in 2025, year-on-year change 5.0 per cent. The advance estimate of January 2026 had been 4.8 per cent (Department of Statistics Singapore, “Singapore’s GDP grew by 5.7 Per Cent in the Fourth Quarter of 2025 and by 4.8 Per Cent in 2025”, singstat.gov.sg). ↩
  3. Department of Statistics Singapore, “Latest News & Data – National Accounts” (opened November 2026): 2Q 2026 GDP in chained (2015) dollars S$155,247.2 million, 5.9 per cent year on year; MTI upgraded its 2026 growth forecast to 4.5 to 5.5 per cent. ↩
  4. Department of Statistics Singapore, “Latest News & Data – National Accounts” (opened November 2026): per capita GDP S$129,194.0 in 2025, up 1.9 per cent; per capita GNI S$107,365.0. ↩
  5. Department of Statistics Singapore, infographic “Singapore Economy” (singstat.gov.sg), p. 1, as cited in Chapter C.III. ↩
  6. Department of Statistics Singapore, Table Builder, “Gross Domestic Product At Current Prices, By Industry (SSIC 2020), Annual” (table M015731), as cited in Chapter G.I: finance and insurance S$99,312.8 million (2024) and S$104,176.0 million (2025). ↩
  7. Department of Statistics Singapore, Table Builder, table M015731, as cited in Chapter G.I: wholesale trade S$146,481.0 million (2025). The infographic cited in Chapter C.III gives a share of 19.7 per cent, which reflects a different industry grouping. ↩
  8. Department of Statistics Singapore, Table Builder, “Merchandise Trade By Commodity Section (At Current Prices), Monthly” (table M451001), monthly values summed by the author of Chapter G.I. ↩
  9. Enterprise Singapore, “Singapore’s External Trade – December 2025”, media release MR No. 001/26, 16 January 2026, p. 2: “NODX grew by 4.8% for the full year of 2025.” ↩
  10. Department of Statistics Singapore, infographic “Singapore Economy” (singstat.gov.sg), p. 3: “Stock of Foreign Direct Investment in Singapore in 2024 Total S$3,130.4 Bil”, as cited in Chapter C.III. ↩
  11. Economic Development Board, media release “EDB continued to secure high value investment commitments in 2025 amidst a volatile global operating environment”, 9 February 2026, paras 3 and 5, as cited in Chapter C.III. ↩
  12. “China’s fixed asset investment in Singapore jumps more than eightfold”, Caixin Global, 10 February 2026, as cited in Chapter I.II. ↩
  13. Economic Development Board, “Futuristic workspace: Singapore a hub for corporate headquarters”, 18 April 2022 (edb.gov.sg), citing a 2019 study by EY, as cited in Chapter I.I. ↩
  14. Inland Revenue Authority of Singapore, “Corporate Income Tax Rate, Rebates & Tax Exemption Schemes” (iras.gov.sg), as cited in Chapters E.IV and I.I. ↩
  15. Ministry of Energy, Trade and Industry, “Free Trade Agreements” (meti.gov.sg, page last updated 21 August 2026), as cited in Chapter F.IV. ↩

For general information only. This article does not constitute legal or tax advice, does not replace advice on an individual case and creates no lawyer-client relationship. It reflects the legal position as of October 2026.

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