August trade-related indicators point to some support for Singapore’s wholesale and retail trade and transportation and storage segments, which together make up around 20% of GDP.
Bank of America Global Research (BofA) has upgraded its 2025 GDP forecast for Singapore to 2.9% from 2.3% previously, citing “resilience” between July and August.
Singapore’s 3Q2025 GDP is likely to expand sequentially, say Ang Kai Wei, Asean economist at Merrill Lynch (Singapore); and Rahul Bajoria, India and Asean economist at Bank of America Securities India.
