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.
Mosaic News
News without borders
Monday, 12 October 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
Updates
178d
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%.
Original story
This article was automatically compiled by AI from the sources above. It may contain inaccuracies. Always read the original sources for the full context.