Chart of the day: Check out Singapore’s weak nominal GDP in Q2
It recorded the worst growth in the region.
Despite the respectable growth of Singapore in terms of real GDP, its nominal GDP is the worst in the southeast Asia region, recording the only contraction among its peers.
According to a report by BNP Paribas, Singapore nominal GDP in Q2 sits around -1%. It followed Taiwan, with a recorded expansion in the nominal GDP around 2%.
To recall, the city-state managed to achieve a 2.2% real GDP growth in Q2.
The report revealed that manufacturing and wholesale & retail trade are the main drags of the weak nominal GDP.
"Nominal value-added in both sectors declined in Q2, while their importance to the wider economy is highlighted by GDP shares of 18% and 14%, respectively (and a combined share of 27% of jobs)," the report explained.
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