Singapore’s economy expanded 6 per cent year-on-year in the first quarter of 2026, according to final data from the country’s Ministry of Trade and Industry.
The pace of the upturn accelerated from 5.7 per cent in the fourth quarter and was well above the previous estimate of 4.6 per cent and the consensus forecast of 5.1 per cent by analysts surveyed by Trading Economics.
Last year’s quarterly data was revised as part of a revision to the methodology for calculating the industrial production indicator to reflect the current structure of the industry. GDP growth in the fourth quarter was previously reported at 6.9% y/y.
The manufacturing sector grew by 7.9 per cent in January-March, the construction sector grew by 11.8 per cent, the wholesale trade sector grew by 11.7 per cent, the retail sector grew by 2.6 per cent and the finance and insurance sector grew by 5.7 per cent.
The Ministry reiterated its forecast for Singapore’s economy to expand by 2-4 per cent in 2026, while noting a significant increase in downside risks to this forecast due to the ongoing Middle East conflict.