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2026-09-17 14:48:10

[Maybank: AI Infrastructure Drives Strong Export Outlook for Singapore, Raises 2026 NODX Growth Forecast to 18%] (1) Maybank economists stated in a report that Singapore's non-oil domestic exports (NODX) outlook remains strong, driven by global artificial intelligence (AI) infrastructure development. (2) August NODX grew by 46.2% year-on-year, the fastest growth rate since October 1988. (3) Demand for semiconductor equipment remains strong amid global chip manufacturing capacity expansion; China's growing spending on modern infrastructure is also driving demand for specialized machinery and semiconductor chips. (4) Maybank forecasts that Singapore's NODX will grow by 18% in 2026, higher than Enterprise Singapore's forecast of 14%-16%.

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