DBS economists Radhika Rao and Mo Ji project Singapore's advance Gross Domestic Product (GDP) growth for the second quarter of 2026 at 5.8% year-on-year and 1.5% quarter-on-quarter seasonally adjusted, which, while slightly below the first quarter's 6.0% year-on-year and 1.0% quarter-on-quarter seasonally adjusted figures, is described as resilient [1]. The economists attribute this performance to accelerated manufacturing and strong wholesale trade, both buoyed by robust global demand for artificial intelligence (AI)-related electronics [1].
Modern services, particularly the financial sector, also contributed to the positive outlook, with increased securities trading activity and credit growth supporting momentum [1]. Additionally, the ongoing construction boom is cited as a factor underpinning domestic economic resilience [1].
Non-oil domestic exports (NODX) are expected to post double-digit growth for the fourth consecutive month, with a 25.0% year-on-year increase in June, following a 38.4% year-on-year surge in May [1]. This sustained export strength, despite some moderation from the previous month, highlights the continued demand for Singapore's goods in the global market [1].
No specific market reactions or analyst opinions beyond the DBS economists' outlook are mentioned in the source article [1].
CONCLUSION
Singapore's economy continues to demonstrate resilience in the second quarter of 2026, supported by strong manufacturing, exports, and services activity. The sustained double-digit growth in non-oil domestic exports and robust AI-related electronics demand signal ongoing positive momentum for the country's economic outlook.