新加坡貿工部發表2026年第一季經濟數據， annual GDP growth came in at 6.0 percent, exceeding the prior official estimate of 4.6 percent. On a seasonally adjusted quarter‑on‑quarter basis, the economy expanded by 1.0 percent in the January‑March period, compared with an earlier estimate of a 0.3 percent contraction. This growth was mainly driven by wholesale trade, manufacturing and the finance and insurance sectors, supported by robust AI‑related demand, according to the Ministry of Trade and Industry. The government retained its full‑year growth forecast at 2.0 percent to 4.0 percent. "Overall, the outlook for the Singapore economy in 2026 has weakened since February," said Ministry permanent secretary Beh Swan Gin at a press conference. "Downside risks to Singapore's economic outlook have risen significantly and MTI will continue to monitor developments closely and adjust the GDP growth forecast over the course of the year, if necessary." The Middle East conflict has upended global growth and inflation trajectories, throwing interest‑rate expectations into disarray. As a small, trade‑dependent hub, Singapore is especially vulnerable to supply‑chain disruptions and volatile energy prices. Last month, the Monetary Authority tightened monetary policy amid concerns that the Iran conflict could fuel inflation. The central bank had held policy steady for three consecutive quarterly meetings after easing in April 2025. Speaking at the same event, central bank chief economist Edward Robinson said the current monetary‑policy stance remains appropriate. "For the Singapore economy, interest rates have been fairly stable, having been down through 2025 and we expect that to continue with the proviso of some stability or some surety to U.S. interest rates going into the second half of this year," Robinson said. Singapore conducts monetary policy by allowing the local dollar to appreciate or depreciate against the currencies of its main trading partners within an undisclosed band, rather than by adjusting interest rates directly. Official data released on Monday showed Singapore's non‑oil domestic exports grew 9.6 percent in the first quarter of 2026, led by the electronics segment with growth of 57.8 percent. Enterprise Singapore raised its export growth forecast to a range of 3.0 percent to 5.0 percent, up from 2.0 percent to 4.0 percent, citing resilient AI‑related demand.