SINGAPORE – Singapore’s non-oil domestic exports (NODX) rose 46.2 per cent in August, extending the 24.1 per cent rise in July, as electronics shipments continued to surge due to AI-related demand. This far exceeded economists’ forecast of 35.1 per cent in a Bloomberg poll.
Electronics shipments grew by 131.8 per cent, up from 112 per cent in July, while non-electronics shipments also expanded 12 per cent, according to figure released by Enterprise Singapore on Sept 17.
Disk media products and PCs saw the largest increase at 290.2 per cent and 237.9 per cent respectively, while integrated circuits grew 90.9 per cent.
Non-monetary gold led the expansion in non-electronics shipments with a 67 per cent rise. Specialised machinery grew 57.7 per cent, while medical apparatus saw a 22.1 per cent increase.
NODX to the US, China and South Korea expanded in August, while exports to the EU contracted.
