Share the statistic on social media channels or embed the statistic in your website using "Embed Code", where available.
Share chart
Embed chart Embed copied!Cite this statistic and select one of the following formats: APA, Chicago, Harvard, MLA & Bluebook
The GDP growth rate in the context of the World Development Indicators (WDI) refers to the annual percentage increase or decrease in a country's Gross Domestic Product (GDP), adjusted for inflation. The WDI is a comprehensive database maintained by the World Bank that tracks various economic, social, and environmental development indicators across the globe.
Key Takeaways
Singapore GDP Growth (1961-2023)
Singapore's rapid industrialization post-independence drove high growth rates, peaking at 13.9% in 1970. Despite global crises in 1985, 1998, and 2008, Singapore managed swift recoveries, driven by trade and finance. The 2020 pandemic led to a -3.9% contraction due to disrupted trade, but recovery was swift with 9.7% growth in 2021. Growth slowed to 1.1% in 2023, reflecting global trade challenges and inflationary pressures impacting exports and investment.
Explore related charts to gain a better understanding of Singapore’s death rate trends, military personnel proportion in Singapore, Singapore’s goods trade balance.
Singapore Sustainability Insights Report 2024
Learn more about sustainability insights in Singapore with TGM StatBox. Explore in-depth insight report, featuring user behavior, trends, and preferences.
Go to report
Connect with our expert team for immediate assistance or comprehensive market analysis. We are always ready to support your business needs.
