Gross Domestic Product Per Capita for Singapore
PCAGDPSGA646NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
90,674.07
Year-over-Year Change
63.24%
Date Range
1/1/1960 - 1/1/2024
Summary
Gross Domestic Product (GDP) per capita is a key economic indicator that measures the total economic output of a country divided by its population. It is widely used to assess a country's standard of living and economic development.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
GDP per capita for Singapore provides a measure of the economic productivity and wealth of the country. It is a useful metric for comparing the relative economic performance of Singapore to other nations and tracking its economic growth over time.
Methodology
The data is calculated by the World Bank by dividing Singapore's GDP by its total population.
Historical Context
GDP per capita is an important statistic for policymakers, investors, and economists to monitor Singapore's economic health and competitiveness.
Key Facts
- Singapore has one of the highest GDP per capita in the world.
- GDP per capita in Singapore has grown rapidly over the past decades.
- High GDP per capita indicates a prosperous, developed economy.
FAQs
Q: What does this economic trend measure?
A: Gross Domestic Product (GDP) per capita measures the total economic output of Singapore divided by its population, providing an indicator of the country's overall economic productivity and standard of living.
Q: Why is this trend relevant for users or analysts?
A: GDP per capita is a key metric used by economists, policymakers, and investors to assess Singapore's economic performance, development, and competitiveness relative to other countries.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank by dividing Singapore's GDP by its total population.
Q: How is this trend used in economic policy?
A: Policymakers in Singapore monitor GDP per capita to guide economic and social policies aimed at promoting continued economic growth and improving the country's standard of living.
Q: Are there update delays or limitations?
A: The GDP per capita data for Singapore is updated annually by the World Bank with a typical delay of several months.
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Citation
U.S. Federal Reserve, Gross Domestic Product Per Capita for Singapore (PCAGDPSGA646NWDB), retrieved from FRED.