Singapore’s export-driven economy could face a sharp slowdown and risk tipping into recession by early 2026, according to KPMG’s latest Global Economic Outlook. The report projects that Singapore’s GDP growth may decline by as much as 3%, citing the country’s extreme dependence on global trade. Exports account for nearly 190% of Singapore’s GDP, making the economy particularly vulnerable to geopolitical shocks and rising global protectionism. The report highlighted that Singapore, along with Hong Kong, is disproportionately affected by trade disruptions stemming from escalating geopolitical tensions. Rising tariffs, new trade restrictions, and instability in key shipping routes such as the South China Sea are contributing to what KPMG describes as a growing wave of “de-globalization.” https://sbr.com.sg/economy/news/singapore-gdp-may-fall-3-trade-exposure-grows-kpmg (ICE SINGAPORE)

Fonte notizia: Singapore Business Review, 20 June 2025