Singapore growth outlook downgraded for 2025-2026
Trade policy uncertainty weighs on projections.
Singapore’s economic growth forecast for 2025 and 2026 has been revised downward due to weaker external demand and ongoing trade policy uncertainty, according to the latest Asian Development Outlook (ADO).
Gross domestic product (GDP) expanded 3.9% year-on-year in the first quarter of 2025, but full-year projections have been cut as external headwinds weigh on exports and manufacturing.
Inflation in Singapore averaged 0.9% in the first five months of the year.
Forecasts were revised down to 1% for 2025 and 1.2% for 2026. Food inflation is expected at 2.2% in 2025 and 3% in 2026.