Singapore 2026 GDP Outlook Raised After Strong Second-Quarter Growth

The Singapore 2026 GDP outlook has been raised sharply after stronger-than-expected second-quarter growth and continued artificial intelligence-related investment improved the economic picture.

The trade ministry now expects the economy to expand between 4.5% and 5.5% this year, compared with its previous forecast of 2% to 4%.

GDP grew 5.9% year on year during the second quarter, taking first-half growth to 6.1%.

The ministry said the global surge in AI investment had exceeded expectations, supporting sectors exposed to the technology cycle.

Economic disruption from the Middle East conflict was also less severe than previously feared.

Enterprise Singapore separately raised its forecast for non-oil domestic export growth in 2026 to between 14% and 16%, from 3% to 5%, citing resilient international demand and sustained AI-related capital expenditure.