Singapore raises 2026 economic growth forecast on global momentum and AI demand

Singapore SG's trade ministry announced on February 10, 2026, that it has raised the official GDP growth forecast for the year to a range of 2% to 4%. This multi-point upward revision follows stronger-than-expected fourth-quarter 2025 GDP results and reflects a more optimistic view of the nation's economic trajectory. The trade ministry cited a supportive global outlook and sustained AI-related investment/demand as key factors underpinning the decision to upgrade the growth projections from the previously stated range.

The revision has immediate implications for the manufacturing sector and the trade-related services sector, both of which are expected to benefit from the improved international environment. In conjunction with the announcement, Enterprise Singapore has released contemporaneous upgrades to its non-oil domestic exports (NODX) projections. These adjustments highlight the expected resilience in trade volumes as global demand for technology and specialized services remains robust.