Singapore’s non-oil domestic exports (NODX) rose 46.2 percent year on year in August 2026, extending July’s strong growth as demand for electronics linked to artificial intelligence continued to support trade.
Enterprise Singapore said electronics exports remained the main driver of growth, led by integrated circuits, disk media products and personal computers. Electronics NODX increased 131.8 percent from a year earlier, while non-electronics exports rose 12 percent.
The August increase followed growth of about 24 percent in July and marked another month of unusually strong electronics shipments amid the global buildout of AI computing infrastructure.
Electronics continue to lead
Singapore’s non-oil re-exports also increased sharply, rising 53.3 percent in August after a 51.3 percent gain in July. Total merchandise trade expanded 44.5 percent year on year.
External demand was broad-based. Reuters, citing official data, reported that shipments rose to nine of Singapore’s top 10 markets, including strong increases to the United States, China and South Korea.
The latest figures reinforce the role of semiconductors, storage products and computing equipment in Singapore’s recent trade performance. TNGlobal reported in May that AI-related demand was already supporting Singapore’s exports, with integrated circuits, disk media products and personal computers among the main contributors.
More recently, economists have pointed to the AI hardware cycle as a source of resilience for Singapore’s manufacturing sector even as global trade conditions remain uneven. Maybank economists said in August that AI-related capital spending should continue to support demand for chips, storage and networking equipment.
Enterprise Singapore’s August trade release showed that NODX growth remained well above the levels recorded earlier in the year. The agency had previously projected full-year 2026 NODX growth of 14 percent to 16 percent following the strong first half.
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