Singapore’s economy grew 6.0% year on year in the first quarter of 2026, beating the advance estimate of 4.6%, according to the Ministry of Trade and Industry. MTI kept its full-year growth forecast unchanged at 2.0% to 4.0% and said downside risks have risen.
Singapore’s economy grew 6.0% year on year in the first quarter of 2026, according to the Ministry of Trade and Industry, in a stronger reading than the 4.6% advance estimate released in April.
Quarter-on-quarter, gross domestic product rose 1.0% in the three months to March, compared with the advance estimate of a 0.3% contraction.
MTI said it was maintaining its full-year 2026 growth forecast at 2.0% to 4.0%, even as it warned that downside risks to the outlook had risen significantly.
Forecast unchanged
The ministry said the upgraded first-quarter reading was based on its latest Economic Survey data. The revision suggests the economy started 2026 on a firmer footing than initially reported.
MTI kept the annual forecast unchanged despite the stronger quarterly outcome, saying the external environment has become more uncertain. It cited the US-Israel-Iran conflict as one factor raising downside risks.
The new figures follow the April advance estimate, when MTI had said GDP grew 4.6% year on year in the first quarter.
The official update leaves Singapore’s near-term growth path intact for now, but the warning on risks suggests policymakers are watching global developments closely as the year progresses.
Revision note
Initial automated publication.