Singapore Private Consumption: % of GDP

Key information about Singapore Private Consumption: % of GDP

• Singapore Private Consumption accounted for 31.5 % of its Nominal GDP in Dec 2024, compared with a ratio of 31.6 % in the previous year.
• Singapore Private Consumption contribution to Nominal GDP ratio is updated yearly, available from Dec 1960 to Dec 2024, with an average share of 43.7 %.
• The data reached an all-time high of 90.4 % in Dec 1961 and a record low of 28.0 % in Dec 2022.

CEIC calculates Private Consumption as % of Nominal GDP from annual Private Consumption Expenditure and annual Nominal GDP. The Singapore Department of Statistics provides Private Consumption Expenditure in local currency and Nominal GDP in local currency.


Related information about Singapore Private Consumption: % of GDP

• In the latest reports, Singapore GDP expanded 0.4 % YoY in Mar 2023.
• Its Nominal GDP reached 120.6 USD bn in Mar 2023.
• Singapore GDP Per Capita reached 90,689.0 USD in Dec 2024.
• Its Gross Savings Rate was measured at 48.6 % in Dec 2023.

View Singapore's Private Consumption: % of GDP from 1960 to 2024 in the chart:

What was Singapore's Private Consumption: % of GDP in 2024?

Singapore Private Consumption accounted for 31.5 % of its Nominal GDP in Dec 2024, compared with a ratio of 31.6 % in the previous year. See the table below for more data.

Last	Previous	Min	Max	Unit	Frequency	Range
31.5 2024	31.6 2023	28.0 2022	90.4 1961	%	yearly	1960 - 2024

Private Consumption: % of GDP by Country Comparison

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