On July 14, Singapore’s second-quarter economic growth rate exceeded expectations. According to the preliminary value of the Ministry of Trade and Industry, GDP grew by 4.3% year-on-year from April to June, higher than the market expectation of 3.5%. After seasonal adjustment, GDP grew by 1.4% quarter-on-quarter from April to June, avoiding a technical recession. Singapore’s GDP in the first quarter was revised to a contraction of 0.5%.
The Ministry of Trade and Industry said that there are still major uncertainties and downside risks in the global economy in the second half of 2025.