Singapore Lifts 2026 Growth View to 4.5%-5.5% as Q2 GDP Beats at 5.9%
Updated
Updated · VnExpress International · Aug 12
Singapore Lifts 2026 Growth View to 4.5%-5.5% as Q2 GDP Beats at 5.9%
3 articles · Updated · VnExpress International · Aug 12
Summary
Singapore said second-quarter GDP grew 5.9% year on year, beating estimates, and expanded 1.4% quarter on quarter, above the 1.1% advance reading.
The trade ministry raised its 2026 growth forecast to 4.5%-5.5% from 2.0%-4.0%, saying Iran war fallout was less damaging than feared and AI-linked investment outperformed expectations.
Enterprise Singapore also lifted its non-oil domestic export growth forecast to 14%-16% from 3%-5%, citing resilient global demand and sustained AI-related capital spending.
The government said it does not expect the 12.5% U.S. tariff on Singapore exports to materially hurt growth, though sectors exposed to Middle East supply disruptions remain weak.
The stronger outlook comes after the central bank tightened policy in late July over inflation risks; June inflation was 1.6%, and authorities expect price pressures to stay elevated into early 2027.