Markets Actual Q1/25 Q2/25 Q3/25 Q4/25
Stock Market (points) 3804.26 3782 3758 3734 3710
Currency 1.35 1.38 1.39 1.4 1.41
Government Bond 10Y (%) 2.92 2.82 2.76 2.71 2.66

Overview Actual Q1/25 Q2/25 Q3/25 Q4/25
GDP Growth Rate (%) 0.10 1.1 2 2.3 1.4
GDP Annual Growth Rate (%) 4.30 2.4 2.3 1.8 2.4
Unemployment Rate (%) 1.90 2.2 2 1.9 1.8
Inflation Rate (%) 1.60 2.5 2.3 2.3 2.4
Inflation Rate MoM (%) 0.30 -0.2 0.1 -0.6 0.3
Interest Rate (%) 3.02 2.7 2.6 2.5 2.4
Balance of Trade (SGD Million) 3854.33 5700 3700 4400 3300
Current Account (SGD Million) 34142.90 34000 35000 35000 26000
Business Confidence (points) 10.00 14 15 15 13
Manufacturing PMI (points) 51.10 51 50.8 51.4 50.2
Retail Sales MoM (%) -2.80 -1.2 1 0.8 0.2
Current Account to GDP (% of GDP) 19.80 17.6
Government Debt to GDP (% of GDP) 167.80 150
Government Budget (% of GDP) -1.60 2.7

GDP Actual Q1/25 Q2/25 Q3/25 Q4/25
GDP Growth Rate (%) 0.10 1.1 2 2.3 1.4
GDP Annual Growth Rate (%) 4.30 2.4 2.3 1.8 2.4
GDP Constant Prices (SGD Million) 140838.00 138897 139499 143245 144218
Gross Fixed Capital Formation (SGD Million) 33114.00 31478 33318 33710 33909
GDP from Services (SGD Million) 20863.70 20950 21282 21239 21364
GDP from Manufacturing (SGD Million) 29503.70 27812 27460 30035 30212
GDP from Construction (SGD Million) 4548.80 4505 4653 4631 4658
GDP from Transport (SGD Million) 8900.40 8843 8997 9061 9114
GDP from Utilities (SGD Million) 1594.80 1593 1629 1624 1633
GDP (USD Billion) 501.43 514
Gross National Product (SGD Million) 673300.30 689460
GDP per Capita (USD) 65422.46 67123
GDP per Capita PPP (USD) 127543.55 130860
Full Year GDP Growth (%) 1.10 2.6

Labour Actual Q1/25 Q2/25 Q3/25 Q4/25
Unemployment Rate (%) 1.90 2.2 2 1.9 1.8
Wages (SGD/Month) 6420.00 7310 7450 7450 7500
Population (Million) 5.92 6.3

Prices Actual Q1/25 Q2/25 Q3/25 Q4/25
Inflation Rate (%) 1.60 2.5 2.3 2.3 2.4
Inflation Rate MoM (%) 0.30 -0.2 0.1 -0.6 0.3
Consumer Price Index CPI (points) 117.20 119 119 120 120
Core Consumer Prices (points) 117.50 119 119 119 120
Core Inflation Rate (%) 1.80 2.2 1.8 1.5 1.9
GDP Deflator (points) 130.30 132 137 133 133
Producer Prices (points) 97.32 100 104 97.41 99.46
Export Prices (points) 93.93 103 102 96.32 95.81
Import Prices (points) 94.50 99.27 99.69 95.48 96.68
Food Inflation (%) 2.50 2.6 2.2 2.4 2.7
Import Prices YoY (%) -5.10 2.8 2.5 2.5 2.3
Export Prices YoY (%) -5.00 4.5 3.8 3.8 2
CPI Housing Utilities (points) 116.23 117 118 119 119
Producer Prices Change (%) -3.00 2 2.7 3 2.2
CPI Transportation (points) 136.36 136 136 135 136

Money Actual Q1/25 Q2/25 Q3/25 Q4/25
Interest Rate (%) 3.02 2.7 2.6 2.5 2.4
Interbank Rate (%) 3.30 3.69 3.59 3.49 3.39
Money Supply M2 (SGD Million) 823405.80 806000 802000 799000 803000
Foreign Exchange Reserves (SGD Million) 506710.40 505000 510000 512000 508000
Loans to Private Sector (SGD Million) 819362.50 827138 822052 823382 839027

Trade Actual Q1/25 Q2/25 Q3/25 Q4/25
Balance of Trade (SGD Million) 3854.33 5700 3700 4400 3300
Current Account (SGD Million) 34142.90 34000 35000 35000 26000
Imports (SGD Million) 56621.36 50800 51200 50800 51500
Exports (SGD Million) 60475.69 56500 54900 55200 54800
Exports of Non-oil Domestic Exports Of (%) 1.70 1.5 0.7 0.7 0.9
Domestic Exports of Non Oil (nodx) (%yoy) (%) 9.00 4.5 3.2 3.2 4.9
Current Account to GDP (% of GDP) 19.80 17.6

Business Actual Q1/25 Q2/25 Q3/25 Q4/25
Business Confidence (points) 10.00 14 15 15 13
Manufacturing PMI (points) 51.10 51 50.8 51.4 50.2
Industrial Production Mom (%) -0.70 1.1 0.3 -3.2 1.9
Industrial Production (%) 10.60 5.8 2.3 -0.8 1.2
Composite PMI (points) 51.50 52 51.5 51.5 52

Consumer Actual Q1/25 Q2/25 Q3/25 Q4/25
Retail Sales MoM (%) -2.80 -1.2 1 0.8 0.2
Retail Sales YoY (%) -0.70 1.2 0.9 0.9 2.3
Consumer Spending (SGD Million) 50469.10 50701 51205 51378 51680
Gasoline Prices (USD/Liter) 2.84 2.89 2.96 3.03 3.09

Housing Actual Q1/25 Q2/25 Q3/25 Q4/25
Housing Index (points) 209.40 205 207 205 208
House Price Index MoM (%) 2.30 0.9 0.5 0.5 0.2

Government Actual Q1/25 Q2/25 Q3/25 Q4/25
Government Debt to GDP (% of GDP) 167.80 150
Government Budget (% of GDP) -1.60 2.7