Singapore's economic growth accelerated in the fourth quarter driven by strong expansions in the biomedical and pharmaceutical output, advance estimates from the Ministry of Trade and Industry revealed on Friday.
Gross domestic product grew 5.7 percent on a yearly basis in the fourth quarter, outpacing the 4.3 percent increase seen in the third quarter.
However, quarter-on-quarter GDP growth moderated to 1.9 percent from 2.4 percent in the prior quarter.
For the whole of 2025, the economy logged an expansion of 4.8 percent, extending the 4.4 percent growth seen in 2024.
The actual growth figure was better than the ministry's projection. In November, the MTI had raised its growth outlook for 2025 to "around 4.0 percent" from "1.5 to 2.5 percent."
Data showed that manufacturing output surged 15.0 percent on a yearly basis in the fourth quarter, largely driven by output expansions in the biomedical manufacturing and electronic clusters.
The construction sector grew 4.2 percent from the prior quarter, supported by an increase in both public and private sector construction output. At the same time, services producing industries gained 0.8 percent.
Elsewhere, the Urban Redevelopment Authority reported that house prices grew at a slower pace in the fourth quarter. The house price index climbed 0.7 percent following a 0.9 percent rise in the third quarter.
For the whole of 2025, the overall increase in the price index moderated to 3.4 percent, marking the smallest increase in a year since 2020.
"Given the uncertain macroeconomic outlook, households should continue to exercise prudence when purchasing properties and taking on mortgage loans," the URA said.
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December 26, 2025 08:42 ET Third quarter economic growth data from some major economies including the U.S. were the main news in this holiday shortened week. GDP growth and industrial production data from the U.S. helped to boost morale, while the consumer confidence survey results were less upbeat. In Europe, the quarterly economic growth data from the U.K. drew attention, while the minutes of the Australian central bank’s latest policy session was in focus in Asia.