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2026-02-16 08:34:07
[AI Demand Drives Surge in Electronics Exports, Singapore's NODX Rises for Fifth Consecutive Month in January] Singapore's non-oil domestic exports (NODX) rose 9.3% year-on-year in January, marking the fifth consecutive month of growth and demonstrating the resilience of this trade-dependent economy amid global uncertainty. Data released by Enterprise Singapore on Monday showed that this increase was below the median forecast of 10.8% by economists, but accelerated from the 6.1% increase in December. Exports of electronic products, a key driver of growth, surged 56.1% year-on-year, far exceeding the previous month's 24.9%, thanks to strong demand related to artificial intelligence and a low base effect. However, exports of non-electronic products fell 3.0% year-on-year, reversing the 0.8% growth in December. Exports to China, Hong Kong, and the EU increased in January, but exports to the US and Indonesia declined. Previously, given the stronger-than-expected resilience of trade performance last year, officials had raised Singapore's export forecast for 2026. Economists believe that the manufacturing sector is expected to remain resilient, supported by the AI boom and regional demand.
