18.2 GDP of Singapore and its Unique Sectorial Makeup
All sectors that make up Singapore’s GDP and specifics
Predominant sectors: Services, Manufacturing, and Finance
Not-so-predominant sectors: Agriculture, Mining, and Construction
Total GDP: Approximately GDP of Singapore is $515 billion in 2023
Primary industry share of the total GDP: The primary industry, which includes agriculture, forestry, and mining, contributes around 0.5 % of India’s total GDP in 2023.
Secondary industry share of the total GDP: The secondary industry, which includes manufacturing and construction, contributes about 24.8% of India’s GDP in 2023.
Tertiary industry share of the total GDP: The tertiary industry, primarily consisting of services like IT, telecommunications, and healthcare, contributes approximately 75.2% of India’s GDP in 2023. Services make up the largest portion of the economy in Singapore, making up 75.2% of GDP. The most significant service sectors are business services (16 percent of GDP). Two most significant industry segments are manufacturing (21 percent) and construction (5 percent).
Singapore’s GDP Growth Rate, Year-Over-Year
Singapore’s GDP growth rate is 2.3% for the entire GDP.
Primary Industry Growth Rate: Agricultural performance has an impact on the primary industry’s growth rate, which varies.
Growth rate of Secondary Industry: Manufacturing trends and policies have an impact on the growth rate of the secondary industry, which varies.
Growth rate of the Tertiary Industry: Growth in the tertiary industry is usually more steady, especially in the services sector.