Singapore's economy grows 6% early 2026 officials keep 2-4% forecast
Singapore's economy grew 6% in early 2026, mostly thanks to soaring global demand for AI chips.
The city is ramping up production of memory chips and server gear that power AI data centers.
Even with challenges from Middle East tensions pushing up costs and disrupting trade, officials are sticking to their growth forecast of 2-4% for the year.
Singapore exports climb nearly 10%
Manufacturing, wholesale trade, and finance got a big boost from the AI chip craze, helping exports climb nearly 10%.
But not everything's smooth sailing: supply chain snags from resource shortages (especially around the Strait of Hormuz) are putting pressure on Singapore's oil-refining sector and fueling inflation worries.
The government says it's keeping a close eye on global risks and will adjust forecasts if needed.