Singapore has reported lower - than - expected GDP growth figures of 3 % for Q3 2018 over the previous quarter , well below a median estimate by Forbes of 4.2 % and the government 's own initial forecast of 4.7 % in 2017 . The results were attributed to poor performance in the manufacturing sector , which declined by 3.5 % , down from 10.7 % the previous quarter , as the city - state began to feel the impact of the ongoing trade war between the US and China . “The external demand outlook for the Singapore economy in 2019 is slightly weaker as compared to 2018. Singapore warned that trade tensions will continue to affect its economic performance into 2019 as demand for its exports continues to decline .
Singapore has reported lower - than - expected GDP growth figures of 3 % for Q3 2018 over the previous quarter , well below a median estimate by Forbes of 4.2 % and the government 's own initial forecast of 4.7 % in 2017 . The results were attributed to poor performance in the manufacturing sector , which declined by 3.5 % , down from 10.7 % the previous quarter , as the city - state began to feel the impact of the ongoing trade war between the US and China . Singapore warned that trade tensions will continue to affect its economic performance into 2019 as demand for its exports continues to decline .