Overview
- The Ministry of Trade and Industry’s advance estimates show fourth-quarter GDP up 5.7% year on year and 1.9% quarter on quarter on a seasonally adjusted basis.
- Full-year growth for 2025 came in at 4.8%, above 2024’s 4.4% and higher than the ministry’s November guidance of around 4%.
- Prime Minister Lawrence Wong attributed the stronger outcome to an AI-driven boost in semiconductor and electronics demand alongside later and lower-than-feared U.S. tariffs.
- The figures are preliminary, based largely on October and November data, and may be revised as more information becomes available.
- The 2026 growth outlook remains at 1.0% to 3.0% as policymakers track potential sectoral tariffs that could hit exports such as semiconductors, consumer electronics and pharmaceuticals, which together account for about 40% of shipments to the United States.