Compensation of employees (current LCU) in Singapore
Singapore: Compensation of employees (current LCU) was 23.59 billion current LCU in 2024. ◆ Volatile
Latest (2024)
23.59 billion current LCU
Change on year
up 7.0%
World rank
97th
of 156 countries
All-time high
23.59 billion current LCU
in 2024
All-time low
514.00 million current LCU
in 1972
Years of data
53
1972–2024
Compensation of employees in Singapore, 1972–2024
Source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in current LCU.
Analysis
In 2024, compensation of employees in Singapore stood at 23.59 billion current LCU. That is the highest value across all 53 years on record.
The figure is up 7.0% on the previous year and up 56.9% over ten years.
Over the whole period, compensation of employees in Singapore peaked at 23.59 billion current LCU in 2024 and was at its lowest, 514.00 million current LCU, in 1972.
Singapore ranks 97th of 156 countries on this measure, in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
Compensation of employees (current LCU) in Singapore, year by year
| Year | current LCU | Change |
|---|---|---|
| 1972 | 514.00 million current LCU | — |
| 1973 | 553.00 million current LCU | +7.6% |
| 1974 | 683.00 million current LCU | +23.5% |
| 1975 | 834.00 million current LCU | +22.1% |
| 1976 | 923.00 million current LCU | +10.7% |
| 1977 | 1.03 billion current LCU | +11.2% |
| 1978 | 1.12 billion current LCU | +9.2% |
| 1979 | 1.29 billion current LCU | +15.0% |
| 1980 | 1.46 billion current LCU | +13.5% |
| 1981 | 1.94 billion current LCU | +32.9% |
| 1982 | 2.04 billion current LCU | +4.9% |
| 1983 | 2.32 billion current LCU | +13.6% |
| 1984 | 2.76 billion current LCU | +19.2% |
| 1985 | 3.04 billion current LCU | +10.1% |
| 1986 | 2.76 billion current LCU | -9.3% |
| 1987 | 2.83 billion current LCU | +2.5% |
| 1988 | 3.20 billion current LCU | +13.2% |
| 1989 | 3.39 billion current LCU | +5.9% |
| 1990 | 3.78 billion current LCU | +11.5% |
| 1991 | 3.95 billion current LCU | +4.5% |
| 1992 | 4.15 billion current LCU | +5.1% |
| 1993 | 4.44 billion current LCU | +7.0% |
| 1994 | 5.41 billion current LCU | +21.7% |
| 1995 | 5.74 billion current LCU | +6.2% |
| 1996 | 6.38 billion current LCU | +11.1% |
| 1997 | 6.93 billion current LCU | +8.8% |
| 1998 | 6.90 billion current LCU | -0.5% |
| 1999 | 7.00 billion current LCU | +1.4% |
| 2000 | 7.63 billion current LCU | +9.1% |
| 2001 | 8.00 billion current LCU | +4.8% |
| 2002 | 8.28 billion current LCU | +3.5% |
| 2003 | 8.31 billion current LCU | +0.3% |
| 2004 | 8.71 billion current LCU | +4.8% |
| 2005 | 9.11 billion current LCU | +4.6% |
| 2006 | 8.72 billion current LCU | -4.3% |
| 2007 | 10.65 billion current LCU | +22.1% |
| 2008 | 10.79 billion current LCU | +1.3% |
| 2009 | 10.91 billion current LCU | +1.1% |
| 2010 | 12.34 billion current LCU | +13.1% |
| 2011 | 12.20 billion current LCU | -1.1% |
| 2012 | 13.12 billion current LCU | +7.5% |
| 2013 | 14.11 billion current LCU | +7.6% |
| 2014 | 15.03 billion current LCU | +6.5% |
| 2015 | 16.08 billion current LCU | +6.9% |
| 2016 | 16.94 billion current LCU | +5.4% |
| 2017 | 17.97 billion current LCU | +6.1% |
| 2018 | 18.55 billion current LCU | +3.2% |
| 2019 | 17.78 billion current LCU | -4.1% |
| 2020 | 17.72 billion current LCU | -0.3% |
| 2021 | 19.74 billion current LCU | +11.4% |
| 2022 | 20.89 billion current LCU | +5.8% |
| 2023 | 22.04 billion current LCU | +5.5% |
| 2024 | 23.59 billion current LCU | +7.0% |
Singapore compared with similar countries
- Singapore's 23.59 billion current LCU is below the median for high income countries, which is 23.97 billion current LCU, 98% of the median. (57 countries reporting)
- Singapore's 23.59 billion current LCU is above the median for East Asia & Pacific, which is 23.59 billion current LCU, 1.0× the median. (25 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 867.62 million current LCU | 514.00 million current LCU | 1.29 billion current LCU | 8 |
| 1980s | 2.57 billion current LCU | 1.46 billion current LCU | 3.39 billion current LCU | 10 |
| 1990s | 5.47 billion current LCU | 3.78 billion current LCU | 7.00 billion current LCU | 10 |
| 2000s | 9.11 billion current LCU | 7.63 billion current LCU | 10.91 billion current LCU | 10 |
| 2010s | 15.41 billion current LCU | 12.20 billion current LCU | 18.55 billion current LCU | 10 |
| 2020s | 20.80 billion current LCU | 17.72 billion current LCU | 23.59 billion current LCU | 5 |
Countries ranked near Singapore
More public sector data for Singapore
- Democracy, annual growth rate 0 % change on previous year (2025)
- Chief executive of the government is elected, annual growth rate 0 % change on previous year (2025)
- Elected parliament, annual growth rate 0 % change on previous year (2025)
- Men's universal right to vote, annual growth rate 0 % change on previous year (2025)
- Universal right to vote, annual growth rate 0 % change on previous year (2025)
- Universal right to vote in practice, annual growth rate 0 % change on previous year (2025)
- Arms imports 57.00 million SIPRI trend indicator values (2025)
- Arms imports (SIPRI trend indicator values), per capita 57.65 SIPRI trend indicator values per person (2024)
- Arms imports (SIPRI trend indicator values), per unit of GDP 0.0006 SIPRI trend indicator values per US$ of GDP (2024)
- Arms imports (SIPRI trend indicator values), annual growth rate -27.95 % change on previous year (2024)
Frequently asked questions
- What is compensation of employees in Singapore?
- Compensation of employees in Singapore was 23.59 billion current LCU in 2024, according to Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest compensation of employees recorded in Singapore?
- The highest recorded value was 23.59 billion current LCU in 2024.
- What is the lowest compensation of employees recorded in Singapore?
- The lowest recorded value was 514.00 million current LCU in 1972.
- How does Singapore rank for compensation of employees?
- Singapore ranks 97th out of 156 countries with data for 2024.
- Is compensation of employees rising or falling in Singapore?
- Over the last ten years it is up 56.9%. The long-run trend across the full record is volatile.
- 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 Compensation of employees (current LCU). Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 53 observations, free to reuse under CC BY 4.0 (World Bank Open Data).
About this data
Compensation of employees is defined as the total remuneration, in cash or in kind, payable by an enterprise to an employee in return for work done by the latter during the accounting period. This indicator is expressed in current prices, meaning no adjustment has been made to account for price changes over time. This series is expressed in local currency units.