SINGAPORE, Jan 2 — Singapore's economy grew 5.7 per cent in the fourth quarter from a year earlier, preliminary government data showed today.
On a quarter-on-quarter seasonally adjusted basis, GDP expanded 1.9 per cent from the third quarter, according to advance estimates from the trade ministry.
For the whole of 2025, the economy expanded by 4.8 per cent, compared to 4.4 per cent in 2024.
In his New Year message on Wednesday, Prime Minister Lawrence Wong said while full-year growth was stronger than expected in 2025, it would be challenging to sustain that pace of growth this year.
Wong pegged last year's growth to US tariffs being imposed later and at lower levels than expected, and an AI-related surge in demand for semiconductors and electronics.
Today's data release did not include any forecasts for 2026. The ministry has previously forecast 2026 GDP growth at 1.0 per cent to 3.0 per cent.
In November, the trade ministry had raised its GDP growth forecast for 2025 to "around 4.0 per cent" from a previous range of 1.5 per cent to 2.5 per cent.
At a review in October, the Monetary Authority of Singapore left monetary policy unchanged as growth in the city-state remained resilient despite challenges from US tariffs. The next policy review is due later this month.
Singapore's exports to the United States are subject to a 10 per cent tariff. That is lower than the tariffs imposed on its Southeast Asian neighbours, but sectoral levies — including a 100 per cent tariff on branded drugs — remain a concern.
Broader sectoral tariffs could hurt demand for Singapore's exports, including semiconductors, consumer electronics and pharmaceutical goods. The central bank has said those three sectors account for about 40 per cent of exports to the United States.
