Singapore’s May non-oil exports surge 38.4% on AI-led electronics boom

Singapore’s May non-oil exports surge 38.4% on AI-led electronics boom The rise was largely fuelled by strong demand for integrated circuits, disk media products and PCs. SINGAPORE: Singapore's non-oil domestic exports (NODX) rose by 38.4 per cent in May from a year earlier, Enterprise Singapore (EnterpriseSG) said on Wednesday (Jun 17), extending the 24.4 per cent growth recorded in April. Electronics exports led the expansion, with electronic NODX rising 94.8 per cent in May, up from the 66.7 per cent increase in April. The surge was largely fuelled by "robust AI-related demand" and driven mainly by integrated circuits, disk media products and PCs, said EnterpriseSG. Non-electronic exports also grew, rising 17.7 per cent in May after a 10.9 per cent increase in April. Pharmaceuticals, specialised machinery and non-monetary gold led the increase. Among key markets, exports to Taiwan, the United States and China rose in May, while shipments to Indonesia were lower than a year earlier, EnterpriseSG said.