Indicators

Singapore Sees Slower 2026 After Robust Year Against Tariffs

Singapore has benefited from having a relatively low US tariff rate of 10%. — Singapore has benefited from having a relatively low US tariff rate of 10%.
Photographer: Bryan van der Beek/Bloomberg

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By Swati Pandey

November 21, 2025 at 12:00 AM UTC

Updated on

November 21, 2025 at 1:35 AM UTC

Singapore expects economic activity to cool in 2026 as US tariffs weigh on global demand, after nearly doubling estimates for this year to around 4% on the back of a strong third-quarter.

Gross domestic product growth next year will ease into a range of 1%-3%, the Ministry of Trade and Industry said Friday, providing its first 2026 outlook.