Description
Singapore Real Gross Domestic Product (GDP) in US Dollars is released by the Ministry of Trade and Industry (MTI). This indicator measures the economic performance of Singapore, reflecting the state of the economy by calculating the value of goods and services adjusted for inflation. Real GDP is a key indicator for assessing the overall health of the economy. Higher figures for GDP indicate economic expansion, while lower figures suggest contraction.
Real GDP is calculated by adjusting Nominal GDP for inflation, using the GDP deflator. It encompasses the total value of goods and services produced within Singapore, removing the effect of price changes over time.
The data is updated quarterly, with preliminary estimates released around four weeks after the quarter ends and final estimates released approximately two months later.