Singapore's non-oil exports expand 24.2% in July as AI demand remains strong

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).July’s growth extends the revised 20.8 per cent rise in June.This data comes after the Ministry of Trade and Industry (MTI) raised Singapore's economic growth forecast 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.Electronic NODX drove growth, surging 112 per cent in July, compared to 105.1 per cent in June.The surge was supported by "robust AI-related demand", EnterpriseSG said.Exports of disk media products rose by 339.1 per cent year on year