Singapore economy expands by 4.3% YoY in Q2

The economy also expanded by 1.4% compared to last quarter.

Singapore’s gross domestic product (GDP) grew by 4.3% YoY in Q2, faster than the 4.1% growth in the preceding quarter, data from the Ministry of Trade and Industry (MTI) showed. 

On a quarter-on-quarter seasonally-adjusted basis, the economy expanded by 1.4%, a turnaround from the 0.5% decline in Q1 2025.

Singapore’s GDP growth averaged 4.2% YoY for the first half of 2025. 

“Looking forward, there remain significant uncertainty and downside risks in the global economy in the second half of 2025 given the lack of clarity over the tariff policies of the US,” MTI said in their release.

For sectoral performance, the manufacturing sector posted a 5.5% YoY growth in Q2 2025, faster than the 4.4% expansion in Q1. The construction sector recorded a 4.9% YoY increase, easing slightly from the 5.1% growth in the preceding quarter. 

All services-producing industries recorded YoY expansion. 

The “wholesale & retail trade and transportation & storage" sectors expanded by 4.8% YoY, extending the 4.6% growth in the previous quarter.

The sectors for  "information & communications, finance & insurance and professional services" grew to 3.8% YoY, slightly faster compared to the 3.7% in the last quarter.

The "accommodation & food services, real estate, administrative & support services" sectors recorded 3.4% growth, faster than the 2.3% in the previous quarter.