|Unit||Mil. SGD, NSA|
|Adjustments||Not Seasonally Adjusted|
|Real Gross Domestic Product||2020 Q4||115,993||112,762||Mil. Ch. 2015 SGD, NSA||Quarterly|
|Nominal Fixed Investment (gross fixed capital formation)||2020 Q3||23,945||22,585||Mil. SGD, NSA||Quarterly|
|Nominal Gross Domestic Product||2020 Q3||114,661||103,160||Mil. SGD, NSA||Quarterly|
|Private Consumption||2020 Q3||38,444||31,817||Mil. SGD, NSA||Quarterly|
|Real Fixed Investment (gross fixed capital formation)||2020 Q3||23,884||22,448||Mil. Ch. 2015 SGD, NSA||Quarterly|
|Real Investment||2020 Q3||25,639||24,108||Mil. Ch. 2015 SGD, NSA||Quarterly|
|Real Private Consumption||2020 Q3||38,524||31,884||Mil. Ch. 2015 SGD, NSA||Quarterly|
The Singapore Department of Statistics compiles GDP estimates by the output, expenditure and income approaches. Two public releases of GDP estimates are made for each reference quarter. Quarterly from 1975.
The System of National Accounts (SNA) is used as the overall conceptual framework. Singapore has adopted the major recommendations of UN SNA 2008. The development of the Singapore economy depends heavily on foreign capital, foreign technology and foreign workers. Consequently, a large share of the compensation of employees and operating surplus, as recorded in national accounts, accrue to foreigners and foreign enterprises. Per capita Gross National Income as conventionally defined on a residential basis may not therefore reflect correctly the income accrued to Singaporeans. Hence, a series on indigenous per capita GNI which excludes the foreigners' contribution is compiled. This involves the calculation of income accruing to foreign workers and foreign enterprises in Singapore, and excluding it from GNI.
Valuation of GDP estimates: At market prices, that is, the prices actually paid by the purchaser.
Industrial activities are classified using the Singapore Standard Industrial Classification 2010 which is adapted from the International Standard Industrial Classification, Revision 4. The current base year is 2010. The frequency of update is once every five years.
Advanced estimates for GDP at 2010 market prices are computed largely from data in the first two months of the quarter (e.g. 1st Quarter is based on Jan and Feb; 2nd Quarter is based on Apr and May). They are intended as an early indication of the GDP growth in the quarter, and are subject to revision when more comprehensive data become available. Prior to 2010, the aggregates at 2010 prices may not equal the sum of their components.
The data are provisional when first released, and this status is indicated in the quarterly and annual Economic Survey of Singapore (QES/AES). Quarterly and annual data for earlier years are revised at the time of publication of the annual Economic Survey of Singapore (AES). The data usually become final two years after first release, and the final data are published in the QES and AES publications.