Macroeconomic Outlook Report: Singapore

Macroeconomic Outlook Report: Singapore

Summary

Financial intermediation, real estate, and business activities contributed 25.4% to Singapore’s gross value added (GVA) in 2023, followed by wholesale, retail, and hotel activities (25.3%), and mining, manufacturing, and utilities (20.1%). In nominal terms, the three sectors are forecast to grow by 5.0%, 6.3%, and 3.7%, respectively, in 2024.

Singapore’s central region serves as a hub for most financial and professional services firms. The western region is dominated by the port and water transport industries due to its proximity to the port, while the eastern region is dominated by the airline industry due to its proximity to Changi Airport.

The inaugural Indo-Pacific Economic Framework for Prosperity (IPEF) Clean Economy Investor Forum in Singapore on June 6, 2024, highlighted over $23 billion in sustainable infrastructure projects. This included $6 billion in investment-ready initiatives presented to investors to promote green investments and climate technology in the region.

Key Highlights

• The FSSTI Index has exhibited a volatile trend. As of September 16, 2024, the index stood at 3,557.1 compared to 3,280.7 on September 16, 2023.

Scope

• Macroeconomic Country Outlook Reports evaluate a country's investment potential through its political, economic, social, technological, legal, and environmental (PESTLE) framework. This comprehensive analysis offers a holistic view of the economy, serving as a strategic tool to understand market dynamics, business potential, and operational direction. Each PESTLE factor is examined based on four parameters: current strengths, current challenges, future prospects, and future risks. These insights support strategic planning by highlighting opportunities and risks within the economy, helping businesses and investors make informed decisions. The report aims to provide a detailed understanding of the country's macroeconomic environment to facilitate effective decision-making and strategy development.

Reasons to Buy

• Macroeconomic Outlook Report identifies the potentials of the country as an investment destination by analyzing the political, economic, social, technological, legal and environmental (PESTLE) structure.
• PESTLE Insights provides 360 degree view of the economy which can be used as a strategic tool to understand the market dynamics, business potentials and direction of operations
• Along with providing the country’s snapshot, the report captures the risk factors pertaining to the macroeconomic risks, political environment, legal environment, demographic and social structure effectiveness, technology & infrastructure and natural and geographic aspects that might impact business.
• This report also highlights key clusters/cities which contribute significantly to the country GDP and population along with major companies’ presence in these areas.