<figure id="attachment_2739640" aria-describedby="caption-attachment-2739640" style="width: 1600px" class="wp-caption aligncenter"><img loading="lazy" class="wp-image-2739640 size-full" src="https://media.freemalaysiatoday.com/wp-content/uploads/2024/04/de6de53e-singapore-skyline-afp-190424-1.webp" alt="" width="1600" height="1000" /><figcaption id="caption-attachment-2739640" class="wp-caption-text">Singapore has been able to ride the global economy’s resiliency despite US President Donald Trump’s initial volley of tariffs. (AFP pic)</figcaption></figure>
SINGAPORE: Singapore forecasts its economy will expand faster than expected this year on the back of a boom in AI-tech demand and resilient global growth.
&#8220;Gross domestic product (GDP) in 2026 is seen growing at 2%-4%, compared with an initial estimate of 1%-3%,&#8221; the trade and industry ministry said today.
&#8220;A sustained artificial intelligence boom, expansionary fiscal policies in several economies including the US, Germany and Japan, as well as accommodative global financial conditions, will support global growth,&#8221; the trade ministry said.
The figures highlight how trade-reliant Singapore has been able to ride the global economy’s resiliency despite US President Donald Trump’s initial volley of tariffs, with the global AI upturn spurring the nation’s high-technology manufacturing and exports.
Neighbours like Vietnam and Malaysia have also largely shrugged off the impact of higher US levies due to the increased demand for electronics.
&#8220;In the final quarter of last year, GDP expanded 6.9% compared with the same period the year prior,&#8221; the ministry said.
That beat both the median 6.5% forecast in a Bloomberg poll and the government’s advance estimate of 5.7%.
“The stronger-than-expected growth momentum seen in the last quarter of 2025 is projected to carry into 2026,” the trade ministry said in a statement.
That momentum also boosted GDP growth in 2025 to 5%, surpassing the government’s earlier 4.8% estimate. That’s still a slowdown from a revised 5.3% in 2024.
Prime Minister Lawrence Wong has cautioned it could be challenging for Singapore to maintain such a high pace of growth as global trade and relationships fracture.
Wong is expected to announce a refresh of its economic strategies when it unveils the 2026 budget on Thursday.

MatchPoint Times

Singapore sees 2026 GDP growing up to 4% on global strength

The country’s gross domestic product is seen to grow at 2%-4%, compared with an initial estimate of 1%-3%, says the trade and industry ministry.

Bar files judicial review to challenge Terrirudin’s appointment to JAC

US health regulators to consider safety status of processed ingredients