Singapore reported stronger-than-expected economic growth in the first quarter of 2026, driven by manufacturing, finance, and AI-related demand.

Yes, the claim is verified. Singapore’s economy grew by 6.0% year-on-year in the first quarter of 2026, beating the earlier official estimate of 4.6% and surpassing analyst expectations.

According to Singapore’s Ministry of Trade and Industry, the growth was mainly supported by strong performance in wholesale trade, manufacturing, finance, and insurance sectors, particularly due to rising global demand linked to artificial intelligence technologies.

On a quarter-on-quarter basis, the economy also returned to growth, expanding 1.0% after an earlier estimate had predicted a contraction. However, officials warned that global tensions and instability in the Middle East could still create risks for Singapore’s economic outlook later this year.

Disclaimer:

Economic forecasts and growth projections may change depending on global market conditions, geopolitical tensions, and future government revisions.