Singapore's non-oil exports soar 68.4% in September, buoyed by AI demand

Singapore's non-oil domestic exports (NODX) rose by 68.4 per cent in September compared to a year earlier, bettering the 46.1 per cent growth recorded in August, Enterprise Singapore (EnterpriseSG) announced on Friday (Oct 16).The growth was again led by electronic NODX, which grew by 107.6 per cent, though lower than the 131.6 per cent increase in August. EnterpriseSG said the increase was supported by robust artificial intelligence-related demand such as disk media products — which rose by 312.4 per cent or $1.7 billion, and personal computers — which grew by 149.5 per cent or $0.9 billion.Meanwhile, non-electronic NODX, which expanded by 11.9 per cent in August, rose by 54.2 per cent in September.This, according to EnterpriseSG, was driven by structures of ships and boats. But its year-on-year growth rate was not cited."The exceptionally high percentage growth reflects a low base effect in the same period last year," the agency stated.Of the top 10 markets for NODX exports, Hong Kong and South Korea were the Republic's top markets.