The GDP composition of Singapore in 2023 shows a diverse economy with services sector leading at 45.5%. This is followed by mining, manufacturing, and utilities at 21.1%, while wholesale, retail trade, restaurants, and hotels account for 16.47%. Transport, storage, and communication comprise 11.84%; construction is at 5.04%, and agriculture contributes just 0.04%. Year-on-year variations indicate steady performance in services and significant advancements in technology-intensive sectors. The five-year CAGR reflects stability with moderate growth mainly driven by manufacturing and services.
Future trends to watch include the increasing role of technology and digital services, impacting overall sectoral growth. The evolving trade policies and global supply chain dynamics could further influence manufacturing and wholesale activities.
Top countries in GDP Composition by Sector
| # | 6 Countries | Percent | Last Year | |
|---|---|---|---|---|
| 1 | 1 Services | 45.5 | 2016 | |
| 2 | 2 Mining, Manufacturing, Utilities | 21.1 | 2016 | |
| 3 | 3 Wholesale, retail trade, restaurants and hotels | 16.47 | 2016 | |
| 4 | 4 Transport, storage and communication | 11.84 | 2016 | |
| 5 | 5 Construction | 5.04 | 2016 | |
| 6 | 6 Agriculture, hunting, forestry, fishing | 0.04 | 2016 |
