Singapore economy jumps 5.7% in fourth quarter, beating expectations on strong manufacturing
Singapore tops the list in the 2025 Global Talent Competitiveness Index prepared by INSEAD and Portulans Institute.
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Singapore’s economy grew 5.7% annually in the fourth quarterThis was mainly driven by strong manufacturing growth in the three months to December.
Singapore’s manufacturing sector recorded 15% growth, a big jump from 4.9% growth in the third quarter, the Ministry of Trade and Industry said.
The ministry stated that the growth in this quarter was largely due to biomedical manufacturing and electronics clusters.
Manufacturing accounts for approximately 20% of the city-state’s GDP.
The preliminary estimate was higher than the revised 4.3% growth in the previous quarter, taking full-year GDP growth to 4.8%, as Prime Minister Lawrence Wong announced in his report. New year message.
The 4.8% growth exceeded the country’s Ministry of Trade and Industry’s upgraded forecast of “around 4%” in November.
“This is a better result than we expected given the circumstances,” Wong said, warning that it would be difficult to sustain the current growth rate.
Singapore had previously warned that 2025 would be tough, citing trade risks after US President Donald Trump’s administration imposed trade tariffs on dozens of countries on “Liberation Day” in April.
Despite having a free trade agreement with the US since 2004, Singapore faced a basic tariff of 10%. wong said In that case “These are not actions one commits against a friend.”
The country also warned in April last year that zero growth was possible and has eased monetary policy twice in 2025 to prepare for a slowdown.
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