\n<\/p>\n
Singapore\u2019s electronics exports feed into servers, data centres and networking hardware, which means a lot of that demand is tied to the capital spending decisions of a handful of large tech companies, Mr Wong said.<\/p>\n
\u201cWhen those companies raise their spending guidance, the order flow moves upstream quickly,\u201d he said.<\/p>\n
A growing share of demand is now linked to AI infrastructure, data centres, high-performance computing, advanced memory and storage, and efforts to build more resilient global supply chains.<\/p>\n
\u201cThis plays to Singapore\u2019s strengths as a trusted semiconductor, electronics and advanced manufacturing hub,\u201d he added.<\/p>\n
Non-oil export figures for nine of Singapore’s top 10 markets rose in May. Taiwan, the US and China recorded year-on-year growth of 135.2 per cent, 80.9 per cent and 31 per cent respectively.<\/p>\n
Mr Ang said Taiwan’s strong showing reflects the continued scale-up of the global chip supply chain, given the island’s central role in advanced semiconductor manufacturing and packaging.<\/p>\n
The US, home to many of the leading AI chip designers, cloud service providers and hyperscalers \u2013 massive cloud computing companies that build and operate large-scale data centres \u2013 saw demand closely tied to AI infrastructure investment.<\/p>\n
China, despite geopolitical restrictions, continues to require chips, storage and electronic components across consumer, enterprise and industrial applications as a large electronics manufacturer.<\/p>\n
\u201cSingapore fits into this picture as a trusted and highly connected node in the global semiconductor supply chain, especially in specialty manufacturing, memory, storage, equipment, materials, assembly, test and regional supply chain coordination,\u201d said Mr Wong.<\/p>\n
Indonesia was the exception, contracting 26.9 per cent. OCBC\u2019s Ms Ling attributed the drop to weak domestic demand, likely compounded by volatility in the Indonesian rupiah.<\/p>\n
Analysts said non-oil export growth is likely to remain positive in the near term, though monthly figures may not sustain the same pace.<\/p>\n
A 38.4 per cent year-on-year increase is \u201cvery strong\u201d and may be difficult to repeat as base effects rise in the second half of the year, with potential volatility from inventory cycles, geopolitics, tariffs and capacity constraints, Mr Wee said.<\/p>\n
Mr Wong said electronics exports \u201clook durable\u201d as long as hyperscaler capital spending holds.<\/p>\n
“We\u2019re witnessing an unprecedented AI buildout that requires ongoing hardware refresh at a pace much faster than any previous technology cycles, which will support continued demand as long as those commitments hold,” he said.<\/p>\n
But with demand increasingly concentrated in a narrow set of products and customers, that concentration creates sensitivity.<\/p>\n
\u201cIf the hyperscaler spending gets revised down, the impact will be felt fairly quickly. It\u2019s not the base case right now, but it\u2019s a vulnerability worth keeping an eye on,\u201d he said.<\/p>\n<\/div>\n
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Singapore\u2019s electronics exports feed into servers, data centres and networking hardware, which means a lot of that demand is tied to the capital spending decisions…<\/p>\n","protected":false},"author":1,"featured_media":61482,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/dam.mediacorp.sg\/image\/upload\/s--zY_Fhia---\/c_crop,h_1029,w_1829,x_1,y_342\/c_fill,g_auto,h_676,w_1200\/fl_relative,g_south_east,l_mediacorp:cna:watermark:2021-08:cna,w_0.1\/f_auto,q_auto\/v1\/mediacorp\/cna\/image\/2026\/02\/13\/20260211_bk_br_shipping_2_0.jpg?itok=E2EuDBQO","fifu_image_alt":"","footnotes":""},"categories":[2],"tags":[904,24911,3700,17055,4745,20713,24763,209,3985,10059],"class_list":["post-61481","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-buzz-news-sg-global","tag-analysts","tag-buildout","tag-decades","tag-drove","tag-exports","tag-nonoil","tag-sharpest","tag-singapores","tag-surge","tag-unprecedented","wpcat-2-id"],"_links":{"self":[{"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/posts\/61481","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=61481"}],"version-history":[{"count":0,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/posts\/61481\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/media\/61482"}],"wp:attachment":[{"href":"https:\/\/sgbuzz.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=61481"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=61481"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=61481"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}