In 2025, Singapore's economy demonstrated resilience amid significant challenges, achieving an average year-on-year growth of 4.3% during the first three quarters. Political stability was reinforced by the outcome of the 2025 General Election, which bolstered confidence among businesses and ensured continuity in key policies addressing the cost of living, competitiveness, and workforce readiness.
The year was marked by substantial disruptions, especially in the food and beverage, retail, and cultural sectors, leading to approximately 20,000 job losses. Key sectors affected included real estate and professional services, with major tech companies like Microsoft, Meta, and TikTok also implementing layoffs globally.
To support local businesses facing external pressures from US-China tensions and tariffs, the government established the Singapore Economic Resilience Taskforce (SERT). Initiatives like AI subsidies and the SkillsFuture roadmap remained pivotal in helping startups and SMEs adapt to the evolving economic landscape.
Despite a cautious global environment, Singapore's strategic government interventions and the adaptability of its enterprises illustrated a commitment to navigating change effectively.