GDP from the construction industry in Singapore 2010-2019

In 2019, Singapore’s construction sector contributed around 17.8 billion Singapore dollars to the country’s GDP. The construction sector reached a five-year high in 2019 and was projected to further grow in 2020 before the outbreak of the COVID-19 pandemic.

Robust private and public sector demand in 2019

The construction sector in Singapore experienced three consecutive years of negative growth until 2019. This increase was fueled in part by the unexpected higher demand from the private sector, especially by the construction of new petrochemical facilities by global giants Linde and ExxonMobil. Public construction demand, meanwhile, has been growing steadily since 2015, supported by major civil engineering projects such as the expansion of the MRT lines and housing development. In that year, the value of contracts awarded for both private and public sector construction amounted to around 33 billion Singapore dollars.

Impact of COVID-19 on the construction sector

However, the COVID-19 pandemic has already negatively impacted the construction industry. Singapore is facing its worst recession since independence, and in Q1 2020, the construction sector contracted by four percent. Social distancing measures and the stopping of non-essential work meant that many construction projects were put on hold. Furthermore, Singapore’s construction sector is facing a two-fold labor crisis. This industry is heavily reliant on migrant workers from foreign countries. The global restrictions in travel meant that hardly any new labor was available. Adding to this challenge, the migrant workers in Singapore had been badly hit by COVID-19, making up the largest share of COVID-19 infections in the country.

Gross domestic product (GDP) of the construction industry of Singapore from 2010 to 2019

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Source

Release date

February 2020

Region

Singapore

Survey time period

2010 to 2019

Special properties

values are at current market prices

Supplementary notes

1 Singapore dollar is equal to 0.73 U.S. dollars and 0.62 euros as of August 2020.

Figures have been rounded.

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Statistics on "Construction industry in Singapore"

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