[📣 Announcement] This channel is closed. From 1 October 2026, the Ministry of Trade and Industry has been renamed as the Ministry of Energy, Trade and Industry (METI).   The new name reflects the growing importance of energy to Singapore’s economy and its critical role in advancing our climate goals and strengthening our national resilience.  As METI, we will continue to work closely with all Singaporeans and businesses to build a secure, affordable, and sustainable energy future, while creating new opportunities and powering Singapore’s next phase of growth.  Do continue to follow METI’s

Quarterly Economic Survey of Singapore Q2 2026 <continued> The economic impact of the Middle East conflict has also been less severe than initially feared. Nonetheless, continuing tensions in the region, alongside lower levels of global oil inventories, are expected to keep the prices of energy and other key inputs elevated in the second half of the year. This will exert upward pressure on global inflation and weigh on global economic activity. Downside risks in the global economy remain, including a further escalation of the Middle East conflict, additional US tariff actions, and sudden ri

Quarterly Economic Survey of Singapore Q2 2026 In the second quarter of 2026, the Singapore economy grew by 5.9 per cent on a year-on-year basis.   In May, MTI maintained Singapore's GDP growth forecast for 2026 at "2.0 to 4.0 per cent", based on the expectation that strong global AI-related demand would cushion the impact of the US-Israel-Iran conflict on the global economy. Since then, the global AI investment boom has been stronger than expected, which has provided significant tailwinds to AI-related production and exports globally. For the rest of the year, a further surge in AI-related c