Up 4.3%: Singapore's economy grew in Q2 despite US tariff fears
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Singapore's economy continued to expand in the second quarter of 2025, despite global uncertainty stemming from US tariff policies.The economy grew by 4.3 per cent year-on-year in the second quarter, up from 4.1 per cent in the first quarter of 2025, accordinUp 4.3%: Singapore's economy grew in Q2 despite US tariff fears
Singapore's economy continued to expand in the second quarter of 2025, despite global uncertainty stemming from US tariff policies.The economy grew by 4.3 per cent year-on-year in the second quarter, up from 4.1 per cent in the first quarter of 2025, according to advance estimates from the Ministry of Trade and Industry (MTI) on Monday (July 14). On a quarter-on-quarter seasonally-adjusted basis, the economy expanded by 1.4 per cent, a turnaround from the 0.5 per cent contraction in the first quarter of 2025, said MTI.For the first half of 2025, GDP growth averaged at 4.2 per cent year-on-year, though MTI warned of «significant uncertainty and downside risks» in the second half of the year citing heightened uncertainty surrounding US tariff policies.On a sectoral basis, the manufacturing sector grew by 5.5 per cent year-on-year in the second quarter of 2025, showing a significant uptick from 4.4 per cent in the previous quarter. According to MTI, the growth was driven by output expansions across all clusters, except for the chemicals and general manufacturing clusters. Read more
