Singapore’s non-oil domestic exports (NODX) increased 20.7% year-on-year in June, supported by continued robust demand for artificial intelligence (AI)-related products, although the pace of growth eased from the previous month.
Data released by Enterprise Singapore on Friday showed June’s expansion followed a stronger 38.4% increase in May, with electronics remaining the main driver of export growth.
Electronic NODX surged 105.1% in June after climbing 94.8% in May, underpinned by strong AI-related demand. Growth was led by integrated circuits, disk media products and personal computers.
Exports of integrated circuits jumped 115.4% from a year earlier, while shipments of disk media products and PCs rose 170.9% and 95.8%, respectively.
In contrast, non-electronic exports declined 2.9% in June after recording a 17.7% increase in May. The fall was mainly due to lower exports of non-monetary gold, petrochemicals and food preparations.
Non-oil re-exports climbed 60.3% year-on-year, extending May’s 33.5% growth, with electronics again accounting for most of the increase.
Overall merchandise trade expanded 49.3% in June, following a 39.6% rise in May. Total exports increased 48.9% while imports grew 49.8%.
Among Singapore’s key trading partners, exports to Taiwan, the US and South Korea recorded notable gains during the month.
Singapore’s total trade reached S$158.1 billion in June, comprising S$85.5 billion in exports and S$72.6 billion in imports.
