Singapore is a very wealthy nation, boasting a high GDP and even higher GDP per capita. Here's a breakdown of its economic strength, based on the provided data:
Singapore's Economic Standing
Singapore's economy is notable for its high level of development and prosperity. The following table outlines key economic indicators from the reference, highlighting the nation's wealth:
| Statistic | Value |
|---|---|
| GDP (Nominal) | $548.15 billion (2025 est.) |
| GDP (PPP) | $825.179 billion (2025 est.) |
| GDP Rank (Nominal) | 26th (2025) |
| GDP Rank (PPP) | 37th (2025) |
| GDP Growth (2024) | 2.1% |
| GDP per capita (Nominal) | $93,956 (March 2025 est.) |
| GDP per capita (PPP) | $153,737 (2025 est.) |
Understanding the Numbers
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GDP (Gross Domestic Product): This represents the total value of goods and services produced within a country's borders. Singapore's nominal GDP is estimated at $548.15 billion (USD) in 2025, while its GDP based on purchasing power parity (PPP) is higher at $825.179 billion (USD) in the same year.
- Nominal GDP uses current market prices.
- PPP takes into account the relative cost of goods and services, providing a more accurate comparison of living standards.
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GDP Rank: Singapore holds the 26th position globally for nominal GDP and the 37th for PPP-based GDP. This indicates that despite its small geographical size, its economic output is substantial on the world stage.
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GDP Growth: The economy is projected to grow by 2.1% in 2024, following a 2.3% growth in 2023. These numbers indicate a stable growth trajectory.
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GDP per capita: This is a measure of a country's average wealth per person. Singapore's GDP per capita is extremely high, estimated at $93,956 (USD) nominally and an even more impressive $153,737 (USD) based on PPP in 2025, further solidifying the country's reputation as one of the wealthiest per capita.
Implications of High GDP per Capita
- High Living Standards: A high GDP per capita generally correlates with higher living standards, better access to healthcare, education, and infrastructure.
- Strong Purchasing Power: Singaporeans have strong purchasing power both domestically and internationally.
- Attractiveness for Investment: The robust economic environment and high wealth attract foreign investment and talent.
Conclusion
Singapore's wealth is evident in its substantial GDP figures, which, when combined with its comparatively small population, result in exceptionally high GDP per capita. This puts Singapore amongst the wealthiest nations globally, both on a national scale and at the individual level. This is reflected in the high nominal and PPP values of GDP per capita, estimated at $93,956 and $153,737 respectively for 2025.
