Singapore GDP Q2 2025 +4.3%

According to data released by the Ministry of Trade and Industry, Singapore’s economy grew by 4.3 per cent in the second quarter of 2025, faster than the 4.1 per cent growth recorded in the first quarter.

On a quarterly basis, the economy increased by 1.4 per cent in Q2, compared to the contraction of 0.5 per cent in the quarter earlier.

Manufacturing growth expanded to 5.5 per cent in the second quarter, up from a 4.4 per cent increase in the previous quarter. Output rose across all clusters except for chemicals and general manufacturing.

The construction sector decreased slightly to 4.9 per cent year-on-year in the first quarter, down from the 5.1 per cent growth seen in the previous quarter.

Overall, the services sector grew by 4.8 per cent, easing from the 4.6 per cent growth recorded in the first quarter. On a quarter-on-quarter basis, growth increased to 2.7 per cent, up from the 0.8 per cent in the first quarter.

In its latest outlook, the International Monetary Fund estimated Singapore’s GDP growth rate to be 2 per cent in 2025.

The Association of Southeast Asian Nations (ASEAN), a political and economic union of ten member states, has a population of 667 million and a combined territory of 4.5 million km². It is currently the third-largest economy in the Asia-Pacific region and the fifth-largest in the world. The ASEAN Economic Community (AEC) had a combined GDP of USD 4.2 trillion, according to 2024 estimates.