Singapore recorded six percent economic growth in the first quarter of the year, driven largely by rising global demand for artificial intelligence technology and electronics.
The government said strong growth in chip production and server components helped support the economy despite global uncertainty linked to the Middle East conflict.
Singapore’s trade ministry said the country’s manufacturing, wholesale trade and financial sectors performed strongly during the January-March period.
Officials said demand for AI-related products, including memory chips and data centre equipment, continued to boost exports and industrial activity.
The ministry also kept its economic growth forecast for 2026 between two and four percent.
However, authorities warned that risks to the global economy have increased because of tensions in the Middle East and disruptions to oil and shipping routes.
Singapore, which is a major oil-refining and export hub, has faced pressure from rising global prices linked to the closure of the Strait of Hormuz.
Despite those concerns, officials said growing investment in artificial intelligence and data centres worldwide is helping support regional economies.
Government agency Enterprise Singapore said exports rose 9.6 percent in the first quarter compared to the same period last year, mainly due to strong electronics shipments.
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