Singapore GDP
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About Singapore GDP
In financial year 2007, Singapore GDP was about $227.1 billion with regards to purchasing power parity. As per official exchange rate, GDP Singapore was $161.3 billion in financial year 2007. In 2007, real growth rate of SG GDP was 7.7 percent. As far as purchasing power parity is concerned, per capita gross domestic product of Singapore was $49,000.
Composition of Singapore GDP
As per data of financial year 2007, 31.2 percent of Singapore gross domestic product comes from industrial sector and 68.8 percent comes from services sector. There is no contribution from agricultural sector.
Status of Singapore GDP
Singaporean gross domestic product is at a good state as of late. Its per capita gross domestic product is among highest in world. There has been a steady rate of growth in last five financial years and real growth rate of Singapore’s gross domestic product has been remarkable.
In financial year 2003, gross domestic product of Singapore had achieved a real growth rate of 2.02 percent. But in financial year 2004 this rate came down to 1.10 percent. In financial year 2005, growth rate shot up again and reached 8.10 percent. But it was not possible to maintain this growth rate in financial year 2006 and it came down to 6.40 percent.
Real growth rate of Singaporean gross domestic product was 7.90 percent in financial year 2007. But it came down a little in fiscal 2008, when this rate became 7.50 percent.
Gross domestic product of Singapore, with regards to current market prices, has been inceasing up at a steady rate. In financial year 2003, this figure stood at $93,151 mark but increased to $109,157 in fiscal 2004 and $119,773 in 2005 economic year. In financial year 2006, gross domestic product of Singapore went up to $136,569 and this figure became $161.348.8 in fiscal 2007.
Recent condition of Singapore GDP
As per latest reports, gross domestic product of Singapore would go up by 0.4 percent in fourth quarter of financial year 2008. This is good news, considering that in third quarter of same fiscal gross domestic product of Singapore had decreased by 0.6 percent.
