Net incurrence of liabilities, total (% of GDP) in Singapore
Singapore: Net incurrence of liabilities, total (% of GDP) was 8.7% in 2024. ▬ Flat
Net incurrence of liabilities, total in Singapore, 1972–2024
Source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of GDP.
Analysis
Singapore recorded 8.7% for net incurrence of liabilities, total in 2024.
That represents a change of down 31.8% on the previous year and up 137.4% over ten years.
Over the whole period, net incurrence of liabilities, total in Singapore peaked at 18.3% in 2019 and was at its lowest, -3.9%, in 2013.
That places Singapore 14th out of 136 countries with data for 2024, putting it in the top 10%.
Net incurrence of liabilities, total (% of GDP) in Singapore, year by year
| Year | % of GDP | Change |
|---|---|---|
| 1972 | 6.4% | — |
| 1973 | 6.9% | +7.7% |
| 1974 | 7.6% | +10.0% |
| 1975 | 8.2% | +8.8% |
| 1976 | 12.6% | +52.4% |
| 1977 | 10.6% | -15.5% |
| 1978 | 9.7% | -8.8% |
| 1979 | 8.9% | -8.5% |
| 1980 | 10.0% | +13.2% |
| 1981 | 11.6% | +15.4% |
| 1982 | 11.1% | -3.7% |
| 1983 | 11.8% | +6.0% |
| 1984 | 8.1% | -31.4% |
| 1985 | 7.9% | -2.8% |
| 1986 | 3.7% | -52.8% |
| 1987 | 12.1% | +223.9% |
| 1988 | 4.9% | -59.2% |
| 1989 | 7.9% | +60.5% |
| 1990 | 12.2% | +54.4% |
| 1991 | 9.2% | -24.8% |
| 1992 | 8.4% | -8.7% |
| 1993 | 7.3% | -12.5% |
| 1994 | 2.8% | -61.8% |
| 1995 | 9.9% | +253.6% |
| 1996 | 7.9% | -20.4% |
| 1997 | 7.1% | -9.5% |
| 1998 | 18.2% | +155.5% |
| 1999 | 10.2% | -43.7% |
| 2000 | 7.7% | -24.9% |
| 2001 | 7.4% | -3.8% |
| 2002 | 6.2% | -15.8% |
| 2003 | 7.1% | +14.4% |
| 2004 | 8.6% | +21.1% |
| 2005 | 5.6% | -35.0% |
| 2006 | 3.8% | -32.4% |
| 2007 | 12.1% | +218.4% |
| 2008 | 7.5% | -38.3% |
| 2009 | 12.8% | +72.3% |
| 2010 | 9.6% | -25.4% |
| 2011 | 10.4% | +8.3% |
| 2012 | 8.0% | -23.0% |
| 2013 | -3.9% | -148.5% |
| 2014 | 3.7% | -194.9% |
| 2015 | 9.5% | +158.0% |
| 2016 | 9.7% | +2.9% |
| 2017 | 7.9% | -19.2% |
| 2018 | 8.8% | +11.5% |
| 2019 | 18.3% | +108.4% |
| 2020 | 15.2% | -17.1% |
| 2021 | 11.8% | -22.5% |
| 2022 | 2.0% | -82.6% |
| 2023 | 12.8% | +525.6% |
| 2024 | 8.7% | -31.8% |
Singapore compared with similar countries
- Singapore's 8.7% is above the median for high income countries, which is 3.5%, 2.5× the median. (41 countries reporting)
- Singapore's 8.7% is above the median for East Asia & Pacific, which is 2.0%, 4.4× the median. (24 countries reporting)
Biggest year-on-year movements
Years where Net incurrence of liabilities, total (% of GDP) in Singapore changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 2023 | +525.6% | 2.0% | 12.8% |
| 1995 | +253.6% | 2.8% | 9.9% |
| 1987 | +223.9% | 3.7% | 12.1% |
| 2007 | +218.4% | 3.8% | 12.1% |
| 2014 | +194.9% | -3.9% | 3.7% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 8.9% | 6.4% | 12.6% | 8 |
| 1980s | 8.9% | 3.7% | 12.1% | 10 |
| 1990s | 9.3% | 2.8% | 18.2% | 10 |
| 2000s | 7.9% | 3.8% | 12.8% | 10 |
| 2010s | 8.2% | -3.9% | 18.3% | 10 |
| 2020s | 10.1% | 2.0% | 15.2% | 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 net incurrence of liabilities, total in Singapore?
- Net incurrence of liabilities, total in Singapore was 8.7% in 2024, according to Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest net incurrence of liabilities, total recorded in Singapore?
- The highest recorded value was 18.3% in 2019.
- What is the lowest net incurrence of liabilities, total recorded in Singapore?
- The lowest recorded value was -3.9% in 2013.
- How does Singapore rank for net incurrence of liabilities, total?
- Singapore ranks 14th out of 136 countries with data for 2024.
- Is net incurrence of liabilities, total rising or falling in Singapore?
- Over the last ten years it is up 137.4%. The long-run trend across the full record is flat.
- 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 Net incurrence of liabilities, total (% of GDP). Statizoid updates them automatically from the source API.
Download this data
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About this data
Net incurrence of government liabilities includes foreign financing (obtained from nonresidents) and domestic financing (obtained from residents), or the means by which a government provides financial resources to cover a budget deficit or allocates financial resources arising from a budget surplus. The net incurrence of liabilities should be offset by the net acquisition of financial assets. This indicator is expressed as a percentage of Gross Domestic Product (GDP) which is the total income earned through the production of goods and services in an economic territory during an accounting period.