Singapore slips to A3 risk rating amidst deepening tariff threats

Singapore’s macroeconomic outlook has become less favourable.

Singapore’s country risk rating has been downgraded from A2 to A3, according to the latest July 2025 Risk Review from Coface.

Coface noted that Singapore’s macroeconomic outlook has become less favourable, with trade in goods and services accounting for more than three times the size of its GDP. The downgrade highlighted how exposed Singapore is to global economic fluctuations, particularly as the US, one of its key export partners, imposes sweeping tariff changes.

In response to these developments, the Singaporean government revised its 2025 GDP growth forecast down to between 0% and 2%, a marked slowdown from earlier projections. In the first quarter of 2025, key export markets were already showing signs of economic softening.

The report also noted that the US accounts for 8.9% of Singapore’s exports, underscoring the significance of trade policy changes for the city-state’s near-term economic trajectory.

You're the reader we write for. You're also the person our partners want to reach.

If that sentence describes you — a founder, a C-suite, someone whose attention companies pay good money for — then you already understand why SBR works. We've spent twenty years earning the trust of readers exactly like you. Which is exactly what makes this an interesting place for your company to show up, too.

The ways it can show up are broader than most people assume — thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. The right fit depends on what you're trying to do, which is why we'd rather start with a conversation than send a rate card.

If your company has something this audience should know about, we'd like to hear what you're working on.

No rate cards until we understand the brief. It's a better use of everyone's time.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia