Based on the forecasted data for the export of Basic Pharmaceutical Products and Pharmaceutical Preparations from Singapore to Malaysia, the value stood at 230.63 Million US Dollars in 2023. This represented a year-on-year increase of 1.97% compared to the previous year. Over the last two years, from 2021 to 2023, variations were recorded at -7.22% for 2022 and 1.97% for 2023. The Compound Annual Growth Rate (CAGR) for the previous five years is 1.08%. Looking forward, the forecasted CAGR from 2024 to 2028 is projected to be 1.32%, with an overall forecasted growth rate of 6.77%.
Long-term analysis displays a fluctuating trend in exports with moderate growth peaks and declines. Future trends to watch for include potential impacts of global economic conditions on pharmaceutical demand, regulatory changes, and advancements in medical technology that could influence growth in this sector.
