Singapore Q1 GDP Beats Estimates as AI Exports Boost Growth

Singapore’s economy grew 6% year on year in the first quarter of 2026, beating an earlier official estimate of 4.6%, supported by wholesale trade, manufacturing and finance as artificial intelligence-related demand boosted exports.

The Singapore Q1 GDP figures also showed the economy expanded 1% quarter on quarter on a seasonally adjusted basis, reversing an advance estimate of a 0.3% contraction.

The Ministry of Trade and Industry maintained its 2026 growth forecast at between 2% and 4% but warned that the outlook had weakened because of rising Middle East tensions, which could affect global growth, supply chains and energy prices.

Non-oil domestic exports rose 9.6% during the quarter, led by a 57.8% increase in electronics shipments. Enterprise Singapore subsequently raised its export growth forecast to between 3% and 5%.

The Singapore Q1 GDP performance reinforces the city-state’s role as a regional trade and technology hub benefiting from global AI investment demand.