Skip to main content

Government officials will never ask you to transfer money or disclose bank log-in details over a phone call.

Call the 24/7 ScamShield Helpline at 1799 if you are unsure if something is a scam.

Ministry of Trade and Industry
  1. Home
  2. Resources
  3. Economic Survey of Singapore
  4. Economic Survey of Singapore and Feature Articles
  5. Singapore's Economic Growth Potential Up to 2020
Feature Articles

Singapore's Economic Growth Potential Up to 2020

26 May 2015

This article has been migrated from an earlier version of the site and may display formatting inconsistencies.

In early 2010, the Economic Strategies Committee (ESC) recommended a medium-term GDP growth range of 3-5 per cent per annum from 2009 to 2019, supported by productivity growth of 2-3 per cent per annum and workforce growth of 1-2 per cent per annum.

As this year marks the half-way mark of the ESC’s timeframe, this article reviews Singapore’s economic performance since 2009, as well as sets out Singapore’s medium-term growth projections for the rest of the decade, from 2014 to 2020.

Our economy has performed relatively well since 2009…

The Singapore economy grew at a compounded annual growth rate (CAGR) of 6.4 per cent from 2009 to 2014, above the ESC’s 3-5 per cent GDP growth range. Growth was driven by both workforce growth (3.8per cent) and productivity growth (2.5 per cent).

Download for the full article [PDF, 219 KB]

Back to top