Singapore’s economy grows 6% driven by demand for artificial intelligence chips
SINGAPORE, May 25 (WAM) – Singapore’s economy grew by 6% year-on-year in the first quarter of this year, driven by a significant rise in demand for artificial intelligence chips.
Singapore, which is a major center for electronics, has witnessed a noticeable increase in the production of memory chips and basic server components for data centers that support artificial intelligence tools.
The Singaporean Ministry of Commerce confirmed in a statement today that it will maintain its expectations of economic growth at a rate ranging between 2.0% and 4.0% in 2026.
The first quarter growth, which represents an extension of the 5.7% growth in the last quarter of 2025, was also driven by the strong performance of the wholesale trade, manufacturing, finance and insurance sectors, according to the ministry’s statement.
The Ministry confirmed that the demand for artificial intelligence applications remained strong, and is expected to continue to support the growth of regional economies throughout the year.
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