Export-oriented economies in the Asia-Pacific region, including Singapore, are bound to face growth pressure in the coming quarters in the face of factors such as the volatile US tariffs and weak import demand from China.
S&P Global Ratings released its “Asia-Pacific Economic Outlook for the Third Quarter of 2025” report on Monday (June 23), warning that economies with a high proportion of exports are in a relatively disadvantageous position.
Export-oriented economies are expected to see slower growth, and my country is also affected
The report said that export-oriented economies such as Singapore, Malaysia, South Korea, Taiwan and Vietnam have weaker growth prospects amid slowing global trade and weak demand in major markets.
Taking Singapore as an example, the electronics cycle is in the early recovery stage, and the service trade has reached its peak, so the ability to drive growth externally is limited. S&P Global Ratings predicts that Singapore’s GDP growth will remain at 2.1% in 2025 and 2.2% in 2026. However, the report pointed out that local private consumption remains a key support driven by rising residents’ income and improved corporate profits.
