Singapore’s economy has exceeded expectations, with MTI upgrading its 2025 GDP forecast to around 4.0% after a strong Q3 performance led by manufacturing, wholesale trade, and finance. Barnabas Gan, Group Chief Economist & Head, Market Research, RHB Bank breaks down the key drivers behind this growth, the role of AI-related electronics and biomedical manufacturing, and what lies ahead for 2026 as global trade faces new headwinds.