SINGAPORE, Sept 17 (Reuters) – Singapore’s non-oil domestic exports surged by 46.2% in August from a year earlier, government data showed on Thursday, a fifth straight month of growth above 20% as electronic shipments continued to be powered by robust AI-related demand.
LSEG data showed it was the largest rise in exports in a series dating back to November 2005.
The figure was higher than the median forecast of 35.3% growth in a Reuters poll.
Electronics exports rose by 131.8% in August from a year earlier, and shipments of non-electronics rose by 12.0%, Enterprise Singapore said in a statement.
Shipments rose to nine of Singapore’s top 10 markets, with exports to the United States rising by 91.0% from a year earlier. Shipments to China and South Korea rose by 70.3% and 87.1%, respectively.
In August, Enterprise Singapore upgraded its forecast for growth this year in non-oil domestic exports to 14% to 16%, from 3% to 5%.
(Reporting by Jun Yuan Yong; Editing by John Mair)
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