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Country Economic Forecasts > Singapore

  • April 2017
  • -
  • Oxford Economics
  • -
  • 14 pages


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A cyclical recovery in global trade will continue to support exports and help underpin a pick-up in services during 2017. However, growth is likely to be uneven. Outside of the sectors dependent on external factors, growth is likely to be subdued given soft labour market conditions and the ongoing correction in the housing market, notwithstanding the recent easing in some housing restrictions. Reflecting the stronger outlook for exports, we have raised our 2017 GDP growth forecast to 2.7%, followed by an acceleration to 3.4% in 2018.

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