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SINGAPORE: Singapore’s gross domestic product (GDP) expanded by 4.6 per cent year-on-year in the first quarter of 2026, moderating from the 5.7 per cent growth recorded in the previous quarter, according to advanced estimates released by the Ministry of Trade and Industry (MTI) on Tuesday (Apr 14).
On a quarter-on-quarter seasonally adjusted basis, the economy contracted by 0.3 per cent, reversing the 1.3 per cent expansion in the final quarter of 2025.
MTI said that while overall growth "remained resilient" in the first quarter of 2026, the Middle East conflict could weigh on economic activity in the coming months.
Deputy Prime Minister Gan Kim Yong, who is also the Minister for Trade and Industry, said last week that the war on Iran will likely slow down economic activity and push prices up.
Singapore had earlier upgraded its GDP growth forecast for this year to between 2 and 4 per cent, on the back of exceptional economic growth of 5 per cent in 2025. That forecast was made before the war broke on Feb 28.
Source: CNA/dc
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FAST
SINGAPORE: Singapore’s gross domestic product (GDP) expanded by 4.6 per cent year-on-year in the first quarter of 2026, moderating from the 5.7 per cent growth recorded in the previous quarter, according to advanced estimates released by the Ministry of Trade and Industry (MTI) on Tuesday (Apr 14).
On a quarter-on-quarter seasonally adjusted basis, the economy contracted by 0.3 per cent, reversing the 1.3 per cent expansion in the final quarter of 2025.
MTI said that while overall growth "remained resilient" in the first quarter of 2026, the Middle East conflict could weigh on economic activity in the coming months.
Related:
Deputy Prime Minister Gan Kim Yong, who is also the Minister for Trade and Industry, said last week that the war on Iran will likely slow down economic activity and push prices up.
Singapore had earlier upgraded its GDP growth forecast for this year to between 2 and 4 per cent, on the back of exceptional economic growth of 5 per cent in 2025. That forecast was made before the war broke on Feb 28.
Source: CNA/dc
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