Singapore Q2 2026 GDP Grows 5.7% YoY, Exceeding Forecast

Singapore's economy grew at a faster-than-expected pace in the second quarter of 2026, with gross domestic product expanding 5.7 percent year-on-year, according to advance estimates released by the Ministry of Trade and Industry. The figure exceeded the median analyst forecast of 5.5 percent, though it marked a deceleration from the revised first-quarter growth of 6.3 percent. On a quarter-on-quarter, seasonally adjusted basis, the economy grew 1.1 percent.

The performance has prompted economists to raise their full-year growth forecasts for the city-state. Analysts at Maybank, for instance, increased their 2026 GDP forecast to 4.8 percent from 4.6 percent, noting that first-half growth is running at a stronger-than-expected 6 percent. They and other observers anticipate the Ministry of Trade and Industry will likely upgrade its official full-year forecast range to 4 to 5 percent from the current 2 to 4 percent when final second-quarter data is released in August.

The second-quarter expansion was driven by a robust manufacturing sector, which accelerated year-on-year. Officials attributed this strength largely to electronics and precision engineering clusters, fueled by...