SINGAPORE – Singapore’s non-oil domestic exports (NODX) rose 24.2 per cent in July, extending the 20.8 per cent rise in June, as electronics shipments continued to surge due to AI-related demand.
It fell short of economists’ forecast of 26.5 per cent in a Bloomberg poll.
Electronic NODX grew 112 per cent, according to figures released by Enterprise Singapore on Aug 17, with disk media products seeing the largest increase at 339.1 per cent. PCs expanded 120.8 per cent while integrated circuits grew 84.5 per cent.
Meanwhile, non-electronic NODX dipped 2.3 per cent, with pharmaceuticals leading the contraction at 56.7 per cent. Petrochemicals and food preparations fell 22.5 per cent and 17.9 per cent respectively.
US, China and Taiwan led expansions for NODX to the top 10 markets, while NODX to the European Union 27 contracted.
