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Key growth drivers for Singapore in 2026

The Singaporean Ministry of Trade and Industry (MTI) has raised Singapore’s GDP growth forecast for 2026 to 2–4%, up from the previous projection of 1–3%.

Illustrative image (Photo: Singapore)
Illustrative image (Photo: Singapore)

Singapore (VNA) - The Singaporean Ministry of Trade and Industry (MTI) has raised Singapore’s GDP growth forecast for 2026 to 2–4%, up from the previous projection of 1–3%.

Key growth drivers for 2026 are expected to include the launch of a new global artificial intelligence (AI) investment cycle, which is projected to become the most important growth engine.

Demand for semiconductors, data centres, and AI-related technologies is anticipated to remain strong. International services and finance are also expected to grow, particularly in finance and insurance, information technology, professional services, logistics, and transportation. Meanwhile, public investment and construction are set to keep growing, supported by ongoing infrastructure projects, public housing, and new urban residential developments.

According to MTI, Singapore’s highly open and technology-intensive economy is forecast to grow by 2–4% in 2026, benefiting from rising global demand for AI and related sectors, including finance-insurance and logistics.

However, Singapore is also expected to remain cautious about unpredictable new trade barriers stemming from waves of sanctions and retaliatory tariffs./.

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