Singapore Real Interest Rate
Real interest rate FR.INR.RINR
Singapore's real interest rate was -5.12% in 2021, ranked 17th globally. This represents a 165.4% decrease from 2020. Data from World Bank, covering 1978–2021.
Overview
Singapore's real interest rate stood at -5.12% in 2021, a decline of +12.95pp from 2020. Singapore ranked 17th globally.
Singapore's real interest rate has experienced significant fluctuations over the past 44 years, with the country's all-time peak occurring in 1999 at 9.73%. Conversely, the real interest rate hit its lowest point in 2021 at -5.12%, ranking 17th globally. This extreme variation is reflective of the country's economic resilience and adaptability. For instance, in comparison, Oman's real interest rate reached an even lower point of -5.92% in the same year, highlighting Singapore's relatively stable performance. The trajectory of Singapore's real interest rate has been influenced by various economic factors, including its open economy and reliance on foreign investment. A sustained uptick in global interest rates or a significant shift in Singapore's monetary policy could alter the trajectory of its real interest rate, potentially leading to a more neutral or even positive rate in the future.
Data & projection
| Year | Real Interest Rate | YoY change | Rank |
|---|---|---|---|
| 2021 | -5.12% | −12.95pp | #17 |
| 2020 | 7.83% | +2.13pp | #67 |
| 2019 | 5.70% | +4.04pp | #48 |
| 2018 | 1.66% | −0.69pp | #26 |
| 2017 | 2.35% | −2.45pp | #42 |
| 2016 | 4.80% | +2.59pp | #53 |
| 2015 | 2.21% | −3.42pp | #19 |
| 2014 | 5.63% | −0.20pp | #56 |
| 2013 | 5.84% | +0.98pp | #66 |
| 2012 | 4.86% | +0.70pp | #63 |
| 2011 | 4.16% | −0.06pp | #69 |
| 2010 | 4.23% | +1.87pp | #67 |
| 2009 | 2.36% | −4.50pp | #25 |
| 2008 | 6.86% | +7.41pp | #101 |
| 2007 | -0.55% | −3.96pp | #24 |
Detected Pattern
Analysis
Singapore matched the Export Boom Cycle pattern in 2021. Historically, 71% of countries showing this pattern (546 out of 768) saw real interest rate improve within 24 months. View full analysis →
Frequently Asked Questions
Singapore's real interest rate was -5.12% in 2021. Ranked 17th globally. This represents a 165.4% decrease from the previous year.
Singapore's real interest rate peaked at 9.73% in 1999.
The lowest real interest rate in Singapore was -5.12% in 2021.
Singapore ranks 17th globally in real interest rate as of 2021.
The World Bank indicator code is FR.INR.RINR. Data sourced from World Bank.
The real interest rate of Singapore in 2021 was -5.12%. This ranks 17th in the world.
Cite this page
@misc{historysaid_singapore_real-interest-rate,
title = {Singapore Real Interest Rate},
url = {https://historysaid.com/singapore/real-interest-rate/},
publisher = {HistorySaid},
year = {2026}
}