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Economists hold 2026 Singapore growth forecasts despite strong 2025 finish

This year’s risks include trade policy uncertainty, geopolitical tensions and manufacturing normalisation

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Low Youjin

Low Youjin

Published Fri, Jan 2, 2026 · 06:22 PM
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    • The Republic’s economy expanded 4.8% year on year in 2025, while Q4 GDP growth came in at 5.7%, advance estimates from MTI showed.
    • The Republic’s economy expanded 4.8% year on year in 2025, while Q4 GDP growth came in at 5.7%, advance estimates from MTI showed. PHOTO: TAY CHU YI, BT

    [SINGAPORE] Private-sector economists largely kept their 2026 growth forecasts unchanged, even after Singapore’s economy turned in a stronger-than-expected performance at the end of 2025.

    The economy expanded 4.8 per cent year on year in 2025, supported by strong growth in the manufacturing sector, based on advance estimates from the Ministry of Trade and Industry (MTI) released on Friday (Jan 2). 

    While the growth momentum is expected to carry into early 2026, economists cautioned that activity could cool later in the year as manufacturing growth normalises and external risks resurface.

    Singapore GDPSingapore economy

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