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SINGAPORE: Singapore’s non-oil domestic exports (NODX) rose by 24.2 per cent in July from a year earlier, amid continued strong demand for artificial intelligence-related products, Enterprise Singapore (EnterpriseSG) said on Monday (Aug 17).<\/span><\/p>\n July\u2019s growth extends the revised 20.8 per cent rise in June.<\/span><\/p>\n This data comes after the Ministry of Trade and Industry (MTI) <\/span>raised Singapore’s economic growth forecast<\/span> for 2026, citing a “better-than-expected performance” in the first six months of the year driven by an acceleration in global AI-related capital expenditure.<\/span><\/p>\n Electronic NODX drove growth, surging 112 per cent in July, compared to 105.1 per cent in June.<\/span><\/p>\n The surge was supported by “robust AI-related demand”, EnterpriseSG said.<\/span><\/p>\n Exports of disk media products rose by 339.1 per cent year on year, while exports of PCs and integrated circuits rose by 120.8 per cent and 84.5 per cent respectively.<\/span><\/p>\n Non-electronics exports decreased by 2.3 per cent, led by a drop in pharmaceuticals, which fell by 56.7 per cent from a high base a year ago.\u00a0<\/span><\/p>\n Petrochemical and food preparations exports also contributed to the decrease, falling 22.5 per cent and 17.9 per cent respectively.<\/span><\/p>\n Non-oil re-exports increased by 51.3 per cent in July, following a 60.3 per cent increase the month prior. The growth was also primarily driven by electronics, which rose by 75.2 per cent.<\/span><\/p>\n Total merchandise trade rose by 38.6 per cent, extending June’s 49.3 per cent increase. Total exports rose by 40.6 per cent while total imports were up 36.3 per cent.<\/span><\/p>\n Among key markets, NODX to the United States, China, and Taiwan were up in July, while NODX to the 27 European Union countries declined.<\/span><\/p>\n