Singapore GDP expands by 4.8% last year after robust Q4

Singapore's economy grew 5.7 per cent in the fourth quarter from a year earlier, lifting full-year GDP growth to the strongest since 2021, underpinned by robust gains for the manufacturing sector and a global boom for Al-related products, preliminary government data showed on Friday.

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Annual economic growth for 2025 came in at 4.8 per cent, the trade ministry said, well ahead of its November forecast of “around 4.0 per cent” and a previous range of 1.5 per cent to 2.5 per cent.

Economists polled by Reuters had expected annual growth of 3.7 per cent in the fourth quarter.

“Growth during the quarter was largely driven by output expansions in the biomedical manufacturing and electronics clusters,” the trade ministry said in a release, adding the expansion in the tech-sector was bolstered by “sustained demand for Al-related semiconductors, servers and server-related products.”

OCBC economist Selena Ling described 2025 as a “stunning year” for the city-state which had 4.4 per cent growth in 2024.