{"slug": "ai-demand-lifts-singapore-key-exports-24-2-in-july-but-misses-forecasts", "title": "AI demand lifts Singapore key exports 24.2% in July, but misses forecasts", "summary": "Singapore's key exports rose 24.2% in July, extending June's 20.8% growth, driven by robust AI-related demand, but missed the 26.8% forecast by private-sector economists in a Bloomberg poll. Electronics exports surged 112% year on year, led by disk media products (339.1%), integrated circuits (84.5%), and PCs (120.8%), while non-electronics fell 2.3%, dragged by pharmaceuticals (-56.7%), petrochemicals (-22.5%), and food preparations (-17.9%). Enterprise Singapore data showed NODX to the US grew 62.8%, South Korea 53.3%, and China 37.6%, but EU 27 exports dropped 35.5%.", "body_md": "# AI demand lifts Singapore key exports 24.2% in July, but misses forecasts\n\nElectronics exports expand 112% in July, from 105.1% the month before\n\n[SINGAPORE] The Republic’s key exports expanded 24.2 per cent in July, extending the 20.8 per cent rise in June.\n\nThis came on the back of robust artificial intelligence-related demand, Enterprise Singapore data showed on Monday (Aug 17).\n\nHowever, July’s expansion fell short of the 26.8 per cent forecast by private-sector economists in a Bloomberg poll.\n\nElectronic exports surged in July, while non-electronics dipped marginally.\n\nElectronics exports expanded 112 per cent in July, from 105.1 per cent in the month before. Disk media products (339.1 per cent), integrated circuits (84.5 per cent) and PCs (120.8 per cent) contributed the most to the expansion.\n\nMeanwhile, non-electronics shipments decreased by 2.3 per cent, from June’s 2.8 per cent decline. July’s drop was driven by pharmaceuticals (-56.7 per cent), petrochemicals (-22.5 per cent), and food preparations (-17.9 per cent).\n\nOverall, total merchandise trade grew 38.6 per cent year on year in July, after the 49.3 per cent expansion in June. Both exports and imports rose.\n\nIn July, key exports to all but one of Singapore’s top 10 markets rose.\n\nNon-oil domestic exports (NODX) to the EU 27 fell 35.5 per cent, reversing the 20.8 per cent growth in the month before.\n\nIn contrast, NODX to all other markets posted growth in July. This was led by the US (62.8 per cent), followed by South Korea (53.3 per cent), and China (37.6 per cent).\n\nHong Kong, Taiwan and Malaysia posted growth of 36.4 per cent, 32.4 per cent and 23.4 per cent, respectively.\n\nThis was followed by Thailand (18 per cent), India (13 per cent) and Indonesia (12.4 per cent).\n\nDecoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.\n\nCopyright SPH Media. All rights reserved.\n\n[TRENDING NOW](/pulse?ref=trending-now)\n\nFinancial planners urge investors to consider other options as T-bills yields lose steam\n\nSingapore may be expected to tighten measures after US ‘transshipment scam’ report: economists\n\nHow BYD disrupted Singapore’s car market – and why the strategy is turning on itself\n\nUOB’s digital wealth sales, transactions jump almost 50% as clients invest more online", "url": "https://wpnews.pro/news/ai-demand-lifts-singapore-key-exports-24-2-in-july-but-misses-forecasts", "canonical_source": "https://www.businesstimes.com.sg/singapore/ai-demand-lifts-singapore-key-exports-24-2-july-misses-forecasts", "published_at": "2026-08-17 01:06:22+00:00", "updated_at": "2026-08-17 02:41:10.568212+00:00", "lang": "en", "topics": ["artificial-intelligence"], "entities": ["Enterprise Singapore", "Bloomberg", "Singapore", "US", "South Korea", "China", "EU 27"], "alternates": {"html": "https://wpnews.pro/news/ai-demand-lifts-singapore-key-exports-24-2-in-july-but-misses-forecasts", "markdown": "https://wpnews.pro/news/ai-demand-lifts-singapore-key-exports-24-2-in-july-but-misses-forecasts.md", "text": "https://wpnews.pro/news/ai-demand-lifts-singapore-key-exports-24-2-in-july-but-misses-forecasts.txt", "jsonld": "https://wpnews.pro/news/ai-demand-lifts-singapore-key-exports-24-2-in-july-but-misses-forecasts.jsonld"}}