Singapore’s economy grew by 2.1% in 2024, but the 2025 growth forecast was lowered to 0-2% due to US tariffs affecting exports. In response, MAS eased monetary policy, emphasizing industry support, workforce upskilling, AI adoption, and digital innovation.
New Publication on Singapore’s Business Landscape
The Introduction to Doing Business in Singapore 2025 by Dezan Shira & Associates is now available for download through the Asia Briefing Publication Store. This comprehensive guide provides valuable insights into Singapore’s evolving business environment, offering strategies and updates crucial for current and prospective investors.
Economic Outlook and Challenges
Singapore’s economy grew by 2.1% in 2024, with Q1 registering a 2.7% increase—its fastest in 18 months. However, the 2025 GDP forecast has been revised downward to 0-2% due to sluggish global demand and rising protectionism. U.S. tariffs and trade restrictions, including a 10% baseline tariff from April, are impacting exports, which saw a 3.5% decline in non-oil domestic shipments during May.
Government Response and Future Strategies
In response to these challenges, the Monetary Authority of Singapore (MAS) has implemented two monetary easing measures in 2025. The government is supporting affected sectors like electronics and logistics through targeted initiatives, while long-term strategies focus on workforce upskilling, attracting global talent, adopting AI, enhancing ESG compliance, and upgrading digital infrastructure to strengthen Singapore’s resilience.
Read the original article : An Introduction to Doing Business in Singapore 2025 – New Publication from Dezan Shira & Associates
