Singapore Q1 GDP up 3.8% y/y, preliminary data shows, 2025 growth forecast downgraded

Pedestrians walk along the promenade near the central business district in Singapore.— AFP

SINGAPORE: Singapore's economy grew 3.8% in the first quarter of 2025 from a year earlier, slowing from an expansion of 5.0% in the fourth quarter of 2024, preliminary government data showed on Monday.

The trade ministry downgraded Singapore’s GDP growth forecast for 2025 to 0% to 2% from the previous range of 1% to 3%.