Singapore GDP Surges to 4.3% in Q2 2025, Beating Expectations

Singapore’s economy expanded 4.3% year-on-year in the second quarter of 2025, surpassing market expectations of 3.5%, according to advance estimates from the Ministry of Trade and Industry. Quarter-on-quarter, GDP rose 1.4%, rebounding from a 0.5% contraction in Q1. Growth was driven by a 5.5% increase in manufacturing output, alongside gains in construction and services. Wholesale trade, logistics, and retail sectors also strengthened as firms rushed shipments ahead of potential US tariffs. Despite the robust performance, MTI warned of lingering downside risks in the global economy and uncertainty surrounding trade policy.