Singapore's GDP expanded 4.6% year-on-year in the first quarter of 2026, slowing from 5.7% growth in the previous quarter and missing economist forecasts of 5.9%, according to advance estimates from the Ministry of Trade and Industry. On a quarterly basis, the economy contracted 0.3%, with manufacturing output pulling back sharply despite gains in electronics and transport engineering, while construction was a bright spot, surging 9% year-on-year. Singapore's government warned that the ongoing Middle East conflict — which escalated with the outbreak of war involving Iran on 28 February — is likely to weigh on economic activity in coming quarters by raising energy costs, dampening trade, and squeezing demand across sectors including transport, tourism, and manufacturing.
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Friday, 29 May 2026
Singapore's economy grows 4.6% in Q1 2026, falling short of forecasts amid Middle East conflict fears[Updated]
Tuesday, 14 April 2026, 02:14 · 1 min read
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Singapore's non-oil domestic exports surged 15.3% in March, beating Bloomberg estimates and marking a seventh consecutive month of expansion, driven by a 74% jump in electronics shipments fuelled by strong AI-related demand. Integrated circuits led the charge, soaring 113.8%, while disk media products and personal computers rose 78.3% and 57.3% respectively. For the full first quarter, NODX grew 9.6% year-on-year, though non-electronic exports edged down 0.6% in March, weighed by declines in pharmaceuticals and food preparations. Total trade expanded 38.5% year-on-year in March, with electronic exports to the United States climbing 165.3% even as non-electronics shipments to that market fell 27.6%.
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