Investment Growth Boosted as Singapore’s Exports Hit Record High
Singapore’s exports recorded their strongest growth in more than two decades, highlighting continued investment in AI and advanced technology despite global uncertainty.
Strong Electronics Demand Lifts NODX
Non-oil domestic exports (NODX) jumped 38.4% in May compared with a year earlier, marking the biggest increase since 2003. The growth was mainly driven by strong demand for electronics linked to artificial intelligence.
Global AI Investment Drives Export Demand
Why is this happening? Well, because rising investment by major global tech companies in AI infrastructure is boosting demand for semiconductors, servers, and other technology products. This has benefited Singapore, which plays an important role in the global supply chain.
Broad-Based Export Gains Support Economic Outlook
Electronics exports nearly doubled in May, led by integrated circuits, personal computers, and disk media products. Non-electronics exports also grew, supported by pharmaceuticals and specialised machinery.
Singapore also saw strong export growth to Taiwan, the United States, and China. Several economists have upgraded their outlook for Singapore’s economy, expecting AI-driven demand and ongoing investment to continue supporting exports in the months ahead.
Overall, the latest figures reinforce Singapore’s position as a key technology and trading hub, with strong investment helping drive export growth and long-term economic resilience.
