Strong electronics demand, particularly in AI-related shipments, drove Singapore’s export growth far above expectations.
Singapore’s non-oil domestic exports rose 24.5% year-on-year in April, exceeding the median forecast of 10.9% growth. The surge was led by robust electronics shipments, including integrated circuits and PCs, fueled by AI-driven demand.
The prior month’s growth was 15.3%, while analysts had anticipated a slower acceleration. The outperformance highlights sustained strength in global tech demand, though the Singapore dollar showed minimal reaction to the data.
The report underscores the resilience of Singapore’s export sector amid broader economic uncertainties, with AI-related hardware continuing to drive momentum.