What was Singapore's GDP (current US$) in 2024?

In 2024, Singapore's GDP (current US$) was $547.39 billion, according to World Bank Open Data.

Is Singapore's GDP (current US$) rising or falling?

Singapore's GDP (current US$) rose 8.3% from 2023 to 2024.

How does Singapore rank globally on GDP (current US$)?

In 2024, Singapore ranked #27 out of 192 countries reporting GDP (current US$).

How does Singapore's GDP (current US$) compare to the world average?

The global average for GDP (current US$) in 2024 was $572.20 billion, so Singapore is below the world average. Within East Asia & Pacific, it ranks #6 of 30.

Singapore: GDP (current US$)

Name: Singapore: GDP (current US$)
Creator: World Bank
License: https://datacatalog.worldbank.org/public-licenses#cc-by

In 2024, Singapore's GDP (current US$) was $547.39 billion.

That's up 8.3% from 2023, the highest value on record.

The global average for this indicator in 2024 was $572.20 billion . Singapore ranks #27 globally out of 192 reporting countries. Within East Asia & Pacific, it ranks #6 of 30.

Source: World Bank Open Data (NY.GDP.MKTP.CD) • Data as of 2024

Trend (2005–2024)

2008 · Global financial crisis
2020 · COVID-19 pandemic
2014 · Oil price collapse
2022 · Russia–Ukraine war begins

Highlights

Peak: $547.39B; 2024
Trough: $127.81B; 2005
1-year change: +8.3%
5-year change: +45.5%; +7.8% / yr
10-year change: +73.8%; +5.7% / yr

Real vs nominal growth

Over the last 10 years, Singapore's nominal GDP (current US$) changed by +73.8%, while real (inflation-adjusted) GDP (constant 2015 US$) changed by +36.7%. The +37.2 percentage-point gap is the combined effect of inflation and currency movement — only the real series isolates underlying economic growth.

Historical Data — Last 10 Years

Year	GDP (current US$)
2024	547.387B
2023	505.440B
2022	509.018B
2021	436.591B
2020	349.166B
2019	376.162B
2018	377.124B
2017	343.673B
2016	319.646B
2015	307.999B

About GDP (current US$)

Gross domestic product is the total income earned through the production of goods and services in an economic territory during an accounting period. It can be measured in three different ways: using either the expenditure approach, the income approach, or the production approach. This indicator is expressed in current prices, meaning no adjustment has been made to account for price changes over time. This indicator is expressed in United States dollars.

Indicator code: NY.GDP.MKTP.CD • Category: Economy

How to read GDP figures: GDP (Gross Domestic Product) is measured in current US dollars, which means values change both due to real economic growth and currency fluctuations. A more useful comparison across countries is GDP per capita, which divides GDP by population. For growth trends, check GDP growth (annual %).

Frequently asked questions

What was Singapore's GDP (current US$) in 2024?: In 2024, Singapore's GDP (current US$) was $547.39 billion, according to World Bank Open Data.
Is Singapore's GDP (current US$) rising or falling?: Singapore's GDP (current US$) rose 8.3% from 2023 to 2024.
How does Singapore rank globally on GDP (current US$)?: In 2024, Singapore ranked #27 out of 192 countries reporting GDP (current US$).
How does Singapore's GDP (current US$) compare to the world average?: The global average for GDP (current US$) in 2024 was $572.20 billion, so Singapore is below the world average. Within East Asia & Pacific, it ranks #6 of 30.
What is GDP (current US$) and how is it measured?: Gross domestic product is the total income earned through the production of goods and services in an economic territory during an accounting period. It can be measured in three different ways: using either the expenditure approach, the income approach, or the production approach. This indicator is expressed in current prices, meaning no adjustment has been made to account for price changes over time. This indicator is expressed in United States dollars.

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Source: World Bank Open Data (NY.GDP.MKTP.CD), CC BY 4.0.