Barnabas Gan, chief economist and head of market research at RHB Bank's agency group, said Singapore's non-oil domestic exports are likely to continue to grow in the fourth quarter. Gan said in a research report that Singapore's non-oil domestic exports will continue to be driven by several favorable factors, such as the continued expansion of the electronics industry and the rebound in pharmaceutical exports. Despite the weak data for September, thanks to the recovery of the global technology cycle, RHB is still optimistic about Singapore's electronics export prospects, and it is expected that there will still be room for recovery in pharmaceutical exports in the next few months. However, as the tense situation in the Middle East heightens the risks, he is cautious about the direction of Singapore's non-oil domestic exports over the next year. RHB maintained its forecast of 1.5% growth in Singapore's non-oil domestic exports in 2024.

Barnabas Gan, chief economist and head of market research at RHB Bank's agency group, said Singapore's non-oil domestic exports are likely to continue to grow in the fourth quarter. Gan said in a research report that Singapore's non-oil domestic exports will continue to be driven by several favorable factors, such as the continued expansion of the electronics industry and the rebound in pharmaceutical exports. Despite the weak data for September, thanks to the recovery of the global technology cycle, RHB is still optimistic about Singapore's electronics export prospects, and it is expected that there will still be room for recovery in pharmaceutical exports in the next few months. However, as the tense situation in the Middle East heightens the risks, he is cautious about the direction of Singapore's non-oil domestic exports over the next year. RHB maintained its forecast of 1.5% growth in Singapore's non-oil domestic exports in 2024.