June non-oil domestic exports rose 20.7% year-on-year, bolstered by strong AI-related semiconductor demand supporting the SGD.
Singapore’s non-oil domestic exports (NODX) grew 20.7% year-on-year in June, slowing from previous months but remaining robust. The strength was driven by a surge in electronics exports, particularly AI-related semiconductors, which supported the Singapore dollar against the US dollar.
The print exceeded expectations, though growth moderated from earlier highs. Electronics exports have been a key driver, reflecting global demand for AI infrastructure and high-performance chips. Prior months saw even stronger NODX growth, but June’s data underscores sustained momentum in the sector.