Singapore's economy grows 5.4% in Q3, down from 6.2% in previous quarter: Advance estimates

In the third quarter of 2026, Singapore's economy expanded by 5.4 percent year-on-year, slightly lower than the previous quarter's 6.2 percent growth, according to advance estimates from the Ministry of Energy, Trade and Industry (METI) on October 14. This figure surpassed the 5.1 percent consensus estimate, as per a Bloomberg poll of private-sector economists. On a seasonally adjusted quarterly basis, the GDP grew by 1.1 percent, maintaining the 1.5 percent growth recorded in the previous quarter.

Growth in the third quarter was driven by increases in manufacturing, electronics, precision engineering, transport engineering, and general manufacturing sectors, which outpaced declines in the chemicals and biomedical manufacturing sectors. The manufacturing sector, though, experienced a slowdown, expanding by 7.5 percent year-on-year in Q3, down from the 12.9 percent growth in Q2.

The construction sector also saw a positive trend, growing by 8.8 percent year-on-year, up from the 6.1 percent growth in the preceding quarter and reversing the 2.7 percent contraction in Q2. The services sector grew 5.2 percent year-on-year, matching the Q2 growth of 5.2 percent, with wholesale trade and transportation and storage contributing to the expansion.