Expense in Singapore
Singapore: Expense was 17.1% in 2023. ▼ Falling
Expense in Singapore, 1972–2023
Source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of GDP.
Analysis
Singapore recorded 17.1% for expense in 2023.
That represents a change of up 16.6% on the previous year and up 38.3% over ten years.
Over the whole period, expense in Singapore peaked at 27.0% in 1987 and was at its lowest, 10.9%, in 1994.
That places Singapore 124th out of 157 countries with data for 2023, putting it in the bottom quarter.
The long-run direction has been consistently falling across the 52 years of available data.
Expense in Singapore, year by year
| Year | % of GDP | Change |
|---|---|---|
| 1972 | 15.0% | — |
| 1973 | 13.8% | -7.7% |
| 1974 | 13.2% | -4.6% |
| 1975 | 15.2% | +15.0% |
| 1976 | 15.5% | +2.0% |
| 1977 | 16.4% | +6.0% |
| 1978 | 15.4% | -6.4% |
| 1979 | 15.4% | +0.4% |
| 1980 | 15.3% | -0.6% |
| 1981 | 17.9% | +16.5% |
| 1982 | 16.2% | -9.4% |
| 1983 | 16.5% | +2.1% |
| 1984 | 18.8% | +13.8% |
| 1985 | 18.0% | -4.4% |
| 1986 | 22.7% | +26.2% |
| 1987 | 27.0% | +19.2% |
| 1988 | 19.0% | -29.7% |
| 1989 | 17.6% | -7.5% |
| 1990 | 17.1% | -2.8% |
| 1991 | 17.9% | +4.8% |
| 1992 | 16.5% | -7.5% |
| 1993 | 14.6% | -11.9% |
| 1994 | 10.9% | -25.1% |
| 1995 | 11.9% | +9.2% |
| 1996 | 16.2% | +35.5% |
| 1997 | 13.6% | -15.7% |
| 1998 | 15.7% | +15.3% |
| 1999 | 14.8% | -6.0% |
| 2000 | 15.7% | +6.4% |
| 2001 | 18.2% | +15.6% |
| 2002 | 16.1% | -11.1% |
| 2003 | 15.9% | -1.3% |
| 2004 | 14.4% | -9.7% |
| 2005 | 12.6% | -12.5% |
| 2006 | 13.1% | +3.7% |
| 2007 | 12.1% | -7.0% |
| 2008 | 14.5% | +19.4% |
| 2009 | 14.3% | -1.4% |
| 2010 | 12.4% | -13.2% |
| 2011 | 12.8% | +2.9% |
| 2012 | 12.4% | -3.0% |
| 2013 | 12.4% | -0.1% |
| 2014 | 13.2% | +6.3% |
| 2015 | 15.9% | +21.1% |
| 2016 | 14.4% | -9.8% |
| 2017 | 14.2% | -0.9% |
| 2018 | 14.6% | +2.9% |
| 2019 | 14.1% | -3.4% |
| 2020 | 25.6% | +80.9% |
| 2021 | 16.1% | -37.0% |
| 2022 | 14.7% | -9.0% |
| 2023 | 17.1% | +16.6% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 15.0% | 13.2% | 16.4% | 8 |
| 1980s | 18.9% | 15.3% | 27.0% | 10 |
| 1990s | 14.9% | 10.9% | 17.9% | 10 |
| 2000s | 14.7% | 12.1% | 18.2% | 10 |
| 2010s | 13.6% | 12.4% | 15.9% | 10 |
| 2020s | 18.4% | 14.7% | 25.6% | 4 |
Countries ranked near Singapore
- 121 Saint Lucia 17.6% compare
- 122 Kazakhstan 17.4% compare
- 123 Panama 17.1% compare
- 125 Malaysia 17.0% compare
- 126 Philippines 16.9% compare
- 127 Uganda 16.6% compare
More economy & growth data for Singapore
- Africa's Development Dynamics (AfDD) Table 04 - Annual real GDP 1.99 Percent per annum (2029)
- Africa's Development Dynamics (AfDD) Table 02 - Annual real GDP 2.5 Percent per annum (2029)
- Gross value added at basic prices (GVA) (current US$), annual growth 5.03 % change on previous year (2025)
- Gross value added at basic prices (GVA) (current US$), per unit of GDP 0.9429 current US$ per US$ of GDP (2025)
- Gross value added at basic prices (GVA) (current US$), per capita 93,169 current US$ per person (2025)
- Gross value added at basic prices (GVA) (current LCU), annual growth 2.77 % change on previous year (2025)
- Gross value added at basic prices (GVA) (current LCU), per unit of GDP 1.23 current LCU per US$ of GDP (2025)
- Gross value added at basic prices (GVA) (current LCU), per capita 121,813 current LCU per person (2025)
- Gross value added at basic prices (GVA) (constant 2015 US$), annual 4.96 % change on previous year (2025)
- Gross value added at basic prices (GVA) (constant 2015 US$), per unit 0.6782 constant 2015 US$ per US$ of GDP (2025)
Frequently asked questions
- What is expense in Singapore?
- Expense in Singapore was 17.1% in 2023, according to Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest expense recorded in Singapore?
- The highest recorded value was 27.0% in 1987.
- What is the lowest expense recorded in Singapore?
- The lowest recorded value was 10.9% in 1994.
- How does Singapore rank for expense?
- Singapore ranks 124th out of 157 countries with data for 2023.
- Is expense rising or falling in Singapore?
- Over the last ten years it is up 38.3%. The long-run trend across the full record is falling.
- Where does this Singapore data come from?
- The figures come from Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF), published as part of Expense (% of GDP). Statizoid updates them automatically from the source API.
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About this data
Expense is a decrease in net worth resulting from a transaction. This indicator is expressed as a percentage of Gross Domestic Product (GDP) which is the total income earned through the production of goods and services in an economic territory during an accounting period.