Singapore: Singapore on Friday revised its 2025 GDP growth forecast upward to around 4.0 percent, from the earlier projection of 1.5 to 2.5 percent, citing “better-than-expected” economic performance in the third quarter, the Ministry of Trade and Industry said.

According to Namibia Press Agency, in the third quarter, the economy expanded by 4.2 percent year-on-year, following the 4.7 percent growth recorded in the previous quarter. The expansion was largely supported by the manufacturing, wholesale trade, and finance and insurance sectors, as stated by the ministry.

Within manufacturing, growth was led by the electronics, transport engineering and biomedical manufacturing clusters. For 2026, Singapore’s GDP growth is expected to range between 1.0 and 3.0 percent, the ministry added.