Singapore GDP

Economists raise 2025 Singapore growth forecasts on strong Q3, but stay cautious on 2026

Still, most private-sector analysts upgrade estimates for next year, with some projections at the higher end of the official 1 to 3% range

With the updated Q3 figure, GDP growth for the first three quarters averages 4.3% year on year.

Singapore raises 2025 growth forecast to ‘around 4%’, expects 1-3% growth in 2026

The upgrade is due to better-than-expected Q3 performance, driven by AI chips

MAS has excluded the recently announced 100% tariffs on China and pharmaceuticals from its baseline forecasts due to implementation uncertainty.

Singapore’s full-year growth set to track near potential rate after resilient Q3 beats expectations

Economists lift 2025 forecasts after third-quarter GDP rises 2.9%, but caution over cooling momentum and external headwinds in 2026

On a seasonally adjusted quarterly basis, gross domestic product rose 1.3%, edging down slightly from the 1.5% advance recorded in the second quarter.

Singapore GDP up 2.9% in Q3, surpassing forecasts

Advance estimates show moderation from previous quarter, as manufacturing sector stalls

A rate of 2-3% is “marvellous” for larger economies, but may be too low for a small economy such as Singapore's, says Deputy Prime Minister Gan Kim Yong.

Singapore should aim to grow faster than eventual 2-3% long-term rate: Gan Kim Yong

Even as a mature economy, the Republic’s growth rate does not have to slow down yet, he says

Economists expect a pullback in H2, as front-loading momentum dissipates.

Economists, MTI cautious on Singapore’s H2 growth despite full-year forecast upgrade

Growth for 2025 is now forecast at 1.5-2.5%, up from 0-2% before, after a strong Q2

For the second quarter, year-on-year growth is revised upwards marginally to 4.4%, from the advance estimate of 4.3%.

Singapore full-year growth forecast upgraded on strong Q2, but MTI warns of uncertainty ahead

The official growth forecast range is now 1.5-2.5%, from 0-2% before

Singapore’s official full-year growth forecast range remains at 0-2%.

Singapore full-year growth to come in firmer than expected on H1 front-loading: MAS

This is even with growth moderating in H2 as front-loading effects fade and global demand slows

Singapore is home to more than 80 active AI research faculties, 150 AI research and development and product teams, and over 1,000  AI startups, the Morgan Stanley report said.

SIA, Singtel and more: Singapore’s top AI adopters could drive 3% GDP growth, says Morgan Stanley

The city-state is one of the highest-ranking artificial intelligence markets relative to its size

Singapore’s economy has grown 4.3 per cent year on year in Q2, advance estimates from the Ministry of Trade and Industry show. This is well above the 3.6 per cent that private-sector economists polled by Bloomberg were predicting.

Economists upgrade 2025 outlook after Q2 GDP turns out better than expected

Front-loading of exports and manufacturing before end of 90-day pause in US tariffs boosted Q2; slowdown in H2 expected as effect fades