MTI Upgrades 2026 GDP Growth Forecast to “4.5 to 5.5 Per Cent”

11 August 2026. The Ministry of Trade and Industry (MTI) announced today that Singapore’s GDP growth forecast for 2026 has been upgraded to “4.5 to 5.5 per cent”, from “2.0 to 4.0 per cent”. This reflects the better-than-expected performance of the Singapore economy in the first half of the year, as well as an improved outlook for the rest of the year due to the acceleration in global AI-related capital expenditure.

Economic Performance in Second Quarter 2026

In the second quarter of 2026, the Singapore economy grew by 5.9 per cent on a year-on-year basis, easing from the 6.3 per cent expansion in the previous quarter. On a quarter-on-quarter seasonally adjusted basis, the economy expanded by 1.4 per cent, extending the 1.2 per cent growth in the first quarter. For the first half of 2026, Singapore’s GDP growth came in at 6.1 per cent year-on-year.

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Economic Survey of Singapore Second Quarter 2026

Ministry of Trade and Industry

11 August 2026