Singapore economy grows 5.4pc in 3Q 2026, slower than previous quarter, says trade ministry

Singapore's economy expanded by 5.4% year-on-year in the third quarter of 2026, a slowdown from the previous quarter's 6.2% growth, according to the Ministry of Energy, Trade and Industry (MTI). On a quarter-on-quarter basis, the economy grew by 1.1%, down from 1.5% in the second quarter. The manufacturing sector grew by 7.5% y-o-y, down from 12.9% in the prior quarter.

This growth was driven by increases in electronics, precision engineering, transport engineering, and general manufacturing, while declines were observed in chemicals and biomedical manufacturing. The construction sector expanded by 8.8% y-o-y, up from 6.1% in the previous quarter, with both public and private sector construction output increasing.

In the services sector, wholesale and retail trade, and transportation and storage sectors grew by 8.0% y-o-y, up from 6.9% in the prior quarter. Meanwhile, information and communications, finance and insurance, and professional services expanded by 4.3% y-o-y, down from 5.1% in the previous quarter. The remaining services sectors, including accommodation and food services, real estate, administrative and support services, and other services, grew by 2.1% y-o-y, following 2.4% growth in the previous quarter.