SINGAPORE: Singapore has raised its 2025 GDP growth forecast to 1.5–2.5 per cent after stronger-than-expected 1H performance, the Trade and Industry Ministry (MTI) said yesterday.
GDP grew 4.4 per cent year-on-year in 2Q, following 4.1 per cent in 1Q, supported by wholesale trade, manufacturing, finance & insurance, and transportation & storage.
The upgrade reflects resilience in global and regional economies amid a US tariff pause and easing trade tensions with key partners. MTI expects growth to slow in 2H as front-loading effects fade and US tariffs take hold, weighing on manufacturing.
Bright spots remain in transport engineering and precision engineering linked to AI-related semiconductors. Risks persist from volatile US trade policies and sector-specific tariffs on pharmaceuticals and semiconductors. – BERNAMA
