Singapore Gross Savings Rate

1960 - 2023 | Yearly | % | CEIC Data

Key information about Singapore Gross Savings Rate

  • Singapore Gross Savings Rate was measured at 48.6% in Dec 2023, compared with 48.6% in the previous year.
  • Singapore Gross Savings Rate is updated yearly, with data available from Dec 1960 to Dec 2023, and an average rate of 48.6%.
  • The data reached an all-time high of 48.6% in Dec 1997 and a record low of -2.1% in Dec 1960.
  • CEIC calculates Gross National Savings Rate from annual Gross National Savings and annual Gross National Income. The Singapore Department of Statistics provides Gross National Savings in local currency and Gross National Income in local currency.
  • In the latest reports, Singapore GDP expanded 0.4% YoY in Mar 2023.
  • Singapore Nominal GDP reached 120,606.6 USD mn in Mar 2023. Its GDP deflator (implicit price deflator) fell 0.0% in Mar 2023.
  • Singapore GDP Per Capita reached 84,714.0 USD in Dec 2023.

View Singapore's Gross Savings Rate from 1960 to 2023 in the chart:

Singapore Gross Savings Rate

What was Singapore's Gross Savings Rate in 2023?

Singapore Gross Savings Rate was measured at 48.6% in Dec 2023, compared with 48.6% in the previous year. See the table below for more data.

Last Previous Min Max Unit Frequency Range
48.6 2023 49.9 2022 -2.1 1960 52.7 1997 % yearly 1960 - 2023

Gross Savings Rate by Country Comparison

country/region Last Frequency Range
Albania (%) 17.3 Sep 2022 quarterly Mar 2008 - Sep 2022
Algeria (%) 36.1 2021 yearly 2000 - 2021
Argentina (%) 11.0 Mar 2023 quarterly Mar 2004 - Mar 2023
Armenia (%) 20.6 Sep 2024 quarterly Dec 1994 - Sep 2024
Australia (%) 29.6 Dec 2022 quarterly Sep 1959 - Dec 2022
Austria (%) 26.7 Jun 2024 quarterly Mar 1995 - Jun 2024
Azerbaijan (%) 26.8 Jun 2024 quarterly Mar 2001 - Jun 2024
Bahrain (%) 38.6 2022 yearly 1989 - 2022
Bangladesh (%) 30.4 2021 yearly 2006 - 2021
Belarus (%) 24.5 Jun 2024 quarterly Mar 1992 - Jun 2024
Belgium (%) 23.4 Jun 2024 quarterly Mar 1980 - Jun 2024
Bolivia (%) 16.8 Jun 2024 quarterly Mar 1990 - Jun 2024
Bosnia and Herzegovina (%) 19.4 Jun 2024 quarterly Mar 2008 - Jun 2024
Botswana (%) 26.7 Jun 2024 quarterly Mar 1994 - Jun 2024
Brazil (%) 15.4 Sep 2024 quarterly Mar 1991 - Sep 2024
Brunei (%) 60.0 Sep 2022 quarterly Mar 2004 - Sep 2022
Bulgaria (%) 25.1 Sep 2024 quarterly Mar 1995 - Sep 2024
Cambodia (%) 34.1 2022 yearly 1993 - 2022
Canada (%) 25.2 Sep 2024 quarterly Mar 1961 - Sep 2024
Chile (%) 20.7 Sep 2024 quarterly Mar 1996 - Sep 2024
China (%) 44.3 2023 yearly 1952 - 2023
Colombia (%) 8.6 Dec 2022 quarterly Mar 2005 - Dec 2022
Croatia (%) 31.2 Sep 2024 quarterly Mar 1995 - Sep 2024
Cyprus (%) 24.9 Sep 2024 quarterly Mar 1995 - Sep 2024
Czech Republic (%) 34.3 Sep 2024 quarterly Mar 1995 - Sep 2024
Denmark (%) 35.6 Sep 2024 quarterly Mar 1990 - Sep 2024
Ecuador (%) 23.5 Jun 2024 quarterly Mar 1991 - Jun 2024
Egypt (%) 7.8 2023 yearly 1969 - 2023
Estonia (%) 29.7 Dec 2022 quarterly Mar 1993 - Dec 2022
European Union (%) 25.9 Jun 2024 quarterly Mar 1995 - Jun 2024
Finland (%) 21.8 Jun 2024 quarterly Mar 1990 - Jun 2024
France (%) 14.2 Dec 2017 quarterly Mar 1949 - Dec 2017
Georgia (%) 20.2 Jun 2024 quarterly Mar 1996 - Jun 2024
Germany (%) 29.6 Mar 2023 quarterly Mar 1991 - Mar 2023
Ghana (%) 9.9 2023 yearly 2006 - 2023
Greece (%) 10.9 Jun 2024 quarterly Mar 1995 - Jun 2024
Hong Kong SAR, China (%) 23.9 Jun 2024 quarterly Mar 1999 - Jun 2024
Hungary (%) 32.2 Sep 2024 quarterly Mar 1995 - Sep 2024
Iceland (%) 23.1 Jun 2024 quarterly Mar 1995 - Jun 2024
India (%) 30.2 2023 yearly 1951 - 2023
Indonesia (%) 38.4 Sep 2024 quarterly Mar 2010 - Sep 2024
Iran (%) 26.4 Mar 2024 quarterly Jun 1988 - Mar 2024
Ireland (%) 56.9 Jun 2024 quarterly Mar 1995 - Jun 2024
Israel (%) 25.0 Sep 2024 quarterly Mar 1995 - Sep 2024
Italy (%) 24.6 Sep 2024 quarterly Mar 1995 - Sep 2024
Ivory Coast (%) 23.9 2023 yearly 1960 - 2023
Japan (%) 28.8 Mar 2022 quarterly Mar 1980 - Mar 2022
Jordan (%) 2.9 2023 yearly 1963 - 2023
Kazakhstan (%) 44.9 Sep 2022 quarterly Mar 1994 - Sep 2022
Kenya (%) 11.9 2023 yearly 2006 - 2023
South Korea (%) 34.0 Dec 2022 quarterly Mar 1970 - Dec 2022
Kosovo (%) 21.9 Sep 2024 quarterly Mar 2010 - Sep 2024
Kuwait (%) 44.9 2022 yearly 1970 - 2022
Kyrgyzstan (%) -4.1 Dec 2022 quarterly Mar 2000 - Dec 2022
Laos (%) 18.4 2016 yearly 2000 - 2016
Latvia (%) 19.6 Jun 2024 quarterly Mar 1995 - Jun 2024
Lebanon (%) -25.5 2021 yearly 1990 - 2021
Lithuania (%) 22.7 Jun 2024 quarterly Mar 1995 - Jun 2024
Luxembourg (%) 52.5 Sep 2022 quarterly Mar 1995 - Sep 2022
Macau SAR, China (%) 16.6 Dec 2022 quarterly Mar 2001 - Dec 2022
North Macedonia (%) 7.4 Jun 2024 quarterly Mar 2000 - Jun 2024
Malawi (%) 11.2 2019 yearly 1977 - 2019
Malaysia (%) 26.9 Dec 2022 quarterly Mar 2010 - Dec 2022
Malta (%) 36.3 Sep 2024 quarterly Mar 1992 - Sep 2024
Mauritius (%) 25.7 Jun 2024 quarterly Mar 1999 - Jun 2024
Mexico (%) 18.7 Jun 2024 quarterly Mar 1993 - Jun 2024
Moldova (%) -2.4 Jun 2024 quarterly Mar 1995 - Jun 2024
Mongolia (%) 35.8 Dec 2022 quarterly Mar 2005 - Dec 2022
Montenegro (%) 6.1 Jun 2024 quarterly Mar 2010 - Jun 2024
Morocco (%) 28.6 2023 yearly 1975 - 2023
Mozambique (%) 4.8 2023 yearly 1969 - 2022
Myanmar (%) 28.7 2018 yearly 1996 - 2018
Nepal (%) 35.6 2024 yearly 2001 - 2024
Netherlands (%) 30.0 Jun 2024 quarterly Mar 1995 - Jun 2024
New Zealand (%) 20.3 Sep 2022 quarterly Jun 1987 - Sep 2022
Nigeria (%) 34.6 2023 yearly 1981 - 2023
Norway (%) 36.6 Sep 2024 quarterly Mar 1978 - Sep 2024
Oman (%) 30.7 2023 yearly 1980 - 2023
Pakistan (%) 6.8 2024 yearly 2000 - 2024
Palestinian Territory (%) -2.4 Jun 2024 quarterly Mar 2011 - Jun 2024
Panama (%) 41.1 2023 yearly 1960 - 2023
Paraguay (%) 20.9 Jun 2024 quarterly Mar 1994 - Jun 2024
Peru (%) 25.0 Sep 2024 quarterly Mar 1990 - Sep 2024
Philippines (%) 10.8 Dec 2022 quarterly Mar 1981 - Dec 2022
Poland (%) 19.5 Jun 2024 quarterly Mar 1995 - Jun 2024
Portugal (%) 21.5 Jun 2024 quarterly Mar 1999 - Jun 2024
Qatar (%) 66.3 Dec 2022 quarterly Mar 2013 - Dec 2022
Romania (%) 16.9 Jun 2024 quarterly Mar 1995 - Jun 2024
Russia (%) 30.1 Jun 2024 quarterly Mar 1993 - Jun 2024
Saudi Arabia (%) 36.1 Jun 2024 quarterly Mar 2003 - Jun 2024
Serbia (%) 16.2 Sep 2024 quarterly Mar 1995 - Sep 2024
Singapore (%) 48.6 2023 yearly 1960 - 2023
Slovakia (%) 18.8 Jun 2024 quarterly Mar 1995 - Jun 2024
Slovenia (%) 28.0 Jun 2024 quarterly Mar 1995 - Jun 2024
South Africa (%) 13.7 Sep 2024 quarterly Mar 1960 - Sep 2024
Spain (%) 23.4 Jun 2024 quarterly Mar 1999 - Jun 2024
Sri Lanka (%) 26.1 Sep 2022 quarterly Mar 2010 - Sep 2022
Sudan (%) 13.7 2014 yearly 1960 - 2014
Sweden (%) 26.6 Sep 2024 quarterly Mar 1980 - Sep 2024
Switzerland (%) 32.0 Sep 2024 quarterly Mar 1990 - Sep 2024

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Singapore Key Series

Government and Public Finance Last Frequency Range
Consolidated Fiscal Balance: % of GDP (%) 2.1 Sep 2024 quarterly Mar 2012 - Sep 2024
Consolidated Fiscal Balance (USD mn) -2,430.664 Oct 2024 monthly Apr 2011 - Oct 2024
Tax Revenue (USD mn) 3,481.846 Oct 2024 monthly Aug 1987 - Oct 2024
Tax Revenue: % of GDP (%) 16.0 Sep 2024 quarterly Dec 1987 - Sep 2024
National Government Debt (USD mn) 962,571.7 Sep 2024 quarterly Mar 1990 - Sep 2024
Government Debt: % of GDP (%) 173.0 Sep 2024 quarterly Mar 1990 - Sep 2024
Forecast: Government Expenditure (SGD bn) 146.244 2030 yearly 1991 - 2030
Forecast: Government Net Debt (SGD bn) 1,597.757 2030 yearly 1991 - 2030
Forecast: Government Revenue (SGD bn) 169.136 2030 yearly 1991 - 2030
Govt Finance: Cash Surplus / Deficit (SGD mn) -3,186.600 Oct 2024 monthly Apr 2011 - Oct 2024
Govt Revenue: Operating (SGD mn) 5,424.000 Oct 2024 monthly Jan 2003 - Oct 2024
Foreign Trade Last Frequency Range
Forecast: Exports of Goods Growth (%) 4.333 2029 yearly 1980 - 2029
Trade Balance (USD mn) 3,367.2 Oct 2024 monthly Jan 1976 - Oct 2024
Total Exports (USD mn) 40,670.3 Oct 2024 monthly Jan 1976 - Oct 2024
Total Exports Growth (%) -6.4 Oct 2024 monthly Jan 1977 - Oct 2024
Aluminum: Exports (USD th) 482,034.010 2023 yearly 1995 - 2023
Exports: Medicament (USD th) 8,750,013.495 2023 yearly 1995 - 2023
Exports: Medicinal and Pharmaceutical Product (USD th) 9,962,678.423 2023 yearly 1995 - 2023
Total Imports (USD mn) 37,303.1 Oct 2024 monthly Jan 1964 - Oct 2024
Total Imports Growth (%) -3.5 Oct 2024 monthly Jan 1965 - Oct 2024
Imports: Medicament (USD th) 2,018,410.885 2023 yearly 1995 - 2023
Imports: Medicinal and Pharmaceutical Product (USD th) 2,453,494.459 2023 yearly 1995 - 2023
Total Exports to USA (USD mn) 3,585.000 Oct 2024 monthly Jan 1976 - Oct 2024
Total Imports from USA (USD mn) 4,638.467 Oct 2024 monthly Jan 1976 - Oct 2024
Total Exports to China (USD mn) 6,072.584 Oct 2024 monthly Jan 1975 - Oct 2024
Total Imports from China (USD mn) 4,630.753 Oct 2024 monthly Jan 1975 - Oct 2024
Domestic Exports: Non Oil (SGD mn) 17,289.94 May 2018 monthly Jan 1976 - May 2018
Re Exports: Non Oil (SGD mn) 22,035.26 May 2018 monthly Jan 1976 - May 2018
Exports: Non Oil (SGD mn) 40,168.70 Jul 2018 monthly Jan 1964 - Jul 2018
Exports: Indonesia (SGD mn) 3,987.368 Oct 2024 monthly Jan 2003 - Oct 2024
Export Value Index (2015=100) 130.084 2021 yearly 1980 - 2021
Import Value Index (2015=100) 136.736 2021 yearly 1980 - 2021
Balance of Payments Last Frequency Range
Direct Investment Abroad (USD mn) 12,847.4 Sep 2024 quarterly Mar 1995 - Sep 2024
Current Account Balance (USD mn) 25,888.7 Sep 2024 quarterly Mar 1986 - Sep 2024
Current Account Balance: % of GDP (%) 18.7 Sep 2024 quarterly Mar 1986 - Sep 2024
Foreign Direct Investment (USD mn) 35,607.5 Sep 2024 quarterly Mar 1995 - Sep 2024
Foreign Direct Investment: % of GDP (%) 25.7 Sep 2024 quarterly Mar 1995 - Sep 2024
Foreign Portfolio Investment (USD mn) 8,296.954 Sep 2024 quarterly Mar 1995 - Sep 2024
Foreign Portfolio Investment: % of GDP (%) 6.0 Sep 2024 quarterly Mar 1995 - Sep 2024
External Debt (USD mn) 2,011,208.2 Jun 2024 quarterly Jun 2003 - Jun 2024
External Debt: % of GDP (%) 391.1 2023 yearly 2003 - 2023
External Debt: Short Term (USD mn) 1,298,666.8 Jun 2024 quarterly Jun 2003 - Jun 2024
External Debt: Short Term: % of GDP (%) 254.2 2023 yearly 2003 - 2023
Forecast: Current Account Balance (USD bn) 95.944 2029 yearly 1980 - 2029
Net International Investment Position (USD mn) 840,737.603 Jun 2024 quarterly Dec 2013 - Jun 2024
BoP: FA: Others: Liabilities (SGD mn) 3,216.400 Sep 2024 quarterly Mar 1986 - Sep 2024
BoP: FA: Direct Investment (SGD mn) -30,016.700 Sep 2024 quarterly Mar 1986 - Sep 2024
BoP: Net Errors and Omissions (SGD mn) -1,077.000 Sep 2024 quarterly Mar 1986 - Sep 2024
BoP: FA: Direct Investment: Assets (SGD mn) 16,943.600 Sep 2024 quarterly Mar 1995 - Sep 2024
BoP: CA: Goods: Exports (SGD mn) 193,025.400 Sep 2024 quarterly Mar 1986 - Sep 2024
BoP: FA: Financial Derivatives: Liabilities (SGD mn) 4,719.900 Sep 2024 quarterly Mar 2006 - Sep 2024
BoP: FA: Financial Derivatives (SGD mn) -6,050.000 Sep 2024 quarterly Mar 2006 - Sep 2024
BoP: CA: Goods: Balance (SGD mn) 52,526.800 Sep 2024 quarterly Mar 1986 - Sep 2024
BoP: CA: Primary Income Balance (SGD mn) -30,465.400 Sep 2024 quarterly Mar 1986 - Sep 2024
BoP: CA: Services: Imports (SGD mn) 110,690.100 Sep 2024 quarterly Mar 1986 - Sep 2024
BoP: CA: Primary Income Balance: Receipts (SGD mn) 65,156.800 Sep 2024 quarterly Mar 1986 - Sep 2024
BoP: FA: Portfolio Inv: Liabilities (SGD mn) 10,942.300 Sep 2024 quarterly Mar 1995 - Sep 2024
BoP: CA: Secondary Income Balance (SGD mn) -1,862.500 Sep 2024 quarterly Mar 1986 - Sep 2024
BoP: FA: Direct Investment: Liabilities (SGD mn) 46,960.300 Sep 2024 quarterly Mar 1995 - Sep 2024
BoP: FA: Others: Assets (SGD mn) 22,166.000 Sep 2024 quarterly Mar 1986 - Sep 2024
BoP: Official Reserves (OR): Net (SGD mn) 17,336.400 Sep 2024 quarterly Mar 1986 - Sep 2024
BoP: CA: Goods: Imports (SGD mn) 140,498.600 Sep 2024 quarterly Mar 1986 - Sep 2024
BoP: FA: Portfolio Inv: Assets (SGD mn) 43,788.900 Sep 2024 quarterly Mar 1995 - Sep 2024
BoP: Financial Account (FA): Net (SGD mn) 15,729.500 Sep 2024 quarterly Mar 1986 - Sep 2024
BoP: CA: Services: Balance (SGD mn) 13,944.000 Sep 2024 quarterly Mar 1986 - Sep 2024
BoP: FA: Financial Derivatives: Assets (SGD mn) -1,330.100 Sep 2024 quarterly Mar 2006 - Sep 2024
BoP: CA: Primary Income Balance: Payment (SGD mn) 95,622.200 Sep 2024 quarterly Mar 1986 - Sep 2024
BoP: FA: Others (SGD mn) 18,949.600 Sep 2024 quarterly Mar 1986 - Sep 2024
BoP: FA: Portfolio Investment (SGD mn) 32,846.600 Sep 2024 quarterly Mar 1986 - Sep 2024
BoP: CA: Services: Exports (SGD mn) 124,634.100 Sep 2024 quarterly Mar 1986 - Sep 2024
BoP: Current Account (CA) Balance (SGD mn) 34,142.900 Sep 2024 quarterly Mar 1986 - Sep 2024
BoP: FA: PI: Liabilities: Debt Securities (SGD mn) 1,256.600 2018 yearly 1988 - 2018
BoP: FA: PI: Liabilities: Equity & Investment Fund Shares (SGD mn) -5,728.600 2018 yearly 1988 - 2018
International Investment Position (IIP) (SGD mn) 1,108,209.700 Dec 2018 quarterly Dec 2013 - Dec 2018
External Debt: Gross: OL: DTC: Long Term (SGD mn) 176,484.200 Jun 2024 quarterly Jun 2003 - Jun 2024
External Debt: Gross: OL: DTC: Short Term (SGD mn) 1,424,878.600 Jun 2024 quarterly Jun 2003 - Jun 2024
External Debt: Gross: OL: OS: Short Term (SGD mn) 335,074.700 Jun 2024 quarterly Jun 2003 - Jun 2024
External Debt: Gross (SGD mn) 2,725,589.400 Jun 2024 quarterly Jun 2003 - Jun 2024
External Debt: Gross: OL: OS: Long Term (SGD mn) 302,795.900 Jun 2024 quarterly Jun 2003 - Jun 2024
Direct Investment Abroad: European Union (EU-27) (SGD mn) 196,949.200 2022 yearly 1994 - 2022
FDI: By Industry: Financial & Insurance Services (SGD mn) 1,476,535.300 2022 yearly 1998 - 2022
FDI: By Industry: Manufacturing (SGD mn) 323,144.100 2022 yearly 1998 - 2022
FDI: By Industry: Professinal, Administrative & Support Services (SGD mn) 175,782.000 2022 yearly 1998 - 2022
FDI: By Industry: Wholesale & Retail Trade (SGD mn) 411,171.600 2022 yearly 1998 - 2022
FDI: By Country: Switzerland (SGD mn) 80,150.900 2022 yearly 1998 - 2022
FDI: By Country: United Kingdom (SGD mn) 138,604.600 2022 yearly 1998 - 2022
FDI: By Country: Netherlands (SGD mn) 70,409.500 2022 yearly 1998 - 2022
Foreign Direct Investment (FDI): Total (SGD mn) 2,618,994.200 2022 yearly 1998 - 2022
FDI: By Country: United States (SGD mn) 574,017.500 2022 yearly 1998 - 2022
FDI: By Country: Japan (SGD mn) 177,665.900 2022 yearly 1998 - 2022
Business Entities (BE): Formation: Total (Number) 5,902.000 Nov 2024 monthly Jan 1970 - Nov 2024
SG: BOP: Current Account: Personal Remittances: Received (USD mn) 0.000 2023 yearly 2005 - 2023
Monetary Last Frequency Range
Non Performing Loans Ratio (%) 1.3 Dec 2019 quarterly Dec 2008 - Dec 2019
Household Debt: % of GDP (%) 52.4 Sep 2024 quarterly Mar 1995 - Sep 2024
Non-Performing Loans (USD mn) 9,947.940 Dec 2019 quarterly Dec 2008 - Dec 2019
Money Supply M1 (USD mn) 361,054.618 Oct 2024 monthly Mar 2004 - Oct 2024
Money Supply M2 (USD mn) 1,014,287.131 Oct 2024 monthly Mar 2004 - Oct 2024
M2 Growth (%) 5.4 Oct 2024 monthly Mar 2005 - Oct 2024
Foreign Exchange Reserves (USD mn) 369,677.0 Oct 2024 monthly Apr 2000 - Oct 2024
Foreign Exchange Reserves: % of GDP (%) 70.512 Sep 2024 quarterly Jun 2000 - Sep 2024
Foreign Exchange Reserves: Months of Import (NA) 9.4 Oct 2024 monthly Apr 2000 - Oct 2024
Gold Reserves (USD mn) 6,412.300 Oct 2024 monthly Apr 2000 - Oct 2024
Total Deposits (USD mn) 1,410,874.376 Oct 2024 monthly Jan 1991 - Oct 2024
Total Deposits Growth (%) 7.6 Oct 2024 monthly Jan 1992 - Oct 2024
Domestic Credit (USD mn) 881,658.7 Oct 2024 monthly Mar 2004 - Oct 2024
Domestic Credit Growth (%) 4.5 Oct 2024 monthly Mar 2005 - Oct 2024
Credit to Households (USD bn) 236.805 Dec 2023 quarterly Mar 1991 - Dec 2023
Credit to Private Non-Financial Sector (USD bn) 897.411 Dec 2023 quarterly Dec 1963 - Dec 2023
Household Debt (USD mn) 290,266.3 Sep 2024 monthly Mar 2004 - Sep 2024
Total Loans (USD mn) 964,401.361 Oct 2024 monthly Mar 2004 - Oct 2024
Total Loans Growth (%) 1.47 Oct 2024 monthly Mar 2005 - Oct 2024
Private Debt: % of Nominal GDP (%) 127.40 Sep 2024 quarterly Mar 2004 - Sep 2024
ORA: Other Reserve Assets (USD mn) 472.40 Jul 2018 monthly Apr 2000 - Jul 2018
ORA: Gold Incl Gold Deposits and Gold Swapped (USD mn) 211.70 Jul 2018 monthly Apr 2000 - Jul 2018
DBU: Loans & Advances: Total, Including Bills Financing (SGD mn) 667,892.20 May 2018 monthly Jan 1980 - May 2018
DBU: Loans & Advances: CL: Housing & Bridging Loans (SGD mn) 203,114.90 May 2018 monthly Jan 1991 - May 2018
DBU: Loans & Advances: Loans to Businesses (LB) (SGD mn) 403,032.70 May 2018 monthly Mar 2004 - May 2018
DBU: Loans & Advances: Consumer Loans (CL) (SGD mn) 264,859.50 May 2018 monthly Mar 2004 - May 2018
DBU: Loans & Advances: LB: Professional & Private Individuals (SGD mn) 10,320.90 May 2018 monthly Jan 1991 - May 2018
Business and Economic Survey Last Frequency Range
Business Confidence Growth (% Point) 1.4 Nov 2024 monthly Jan 2000 - Nov 2024
Composite Leading Index: 2015=100 (2015=100) 109.300 Mar 2019 quarterly Mar 1978 - Mar 2019

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