Chart of the Day: GDP growth slumps to 3.6% in Q4

No thanks to a lacklustre +4.2% growth in exports.

This chart from RHB Research shows that Singapore’s 4Q2017 GDP growth eased from +5.2% YoY to +3.6% YoY, undermined by softer exports growth.

The growth of exports of goods & services eased from +4.3% YoY to +4.2% YoY, driven by a significant slowdown in semiconductor, machinery, and petrochemical shipments.

However, private consumption proved resilient and rose +5.5% YoY. Gross fixed capital formation (GFCF) rebounded, cushioning some of the downside.

For the full year, the country’s GDP accelerated to +3.6% on broad-based improvements.

The growth of exports of goods & services eased from +4.3% YoY to +4.2% YoY, driven by a significant slowdown in semiconductor, machinery, and petrochemical shipments.