AI-fuelled electronics to keep Singapore exports resilient, but growth becoming increasingly concentrated

Singapore's non-oil domestic exports rose 20.7% year on year in June, driven by AI-fueled electronics demand, but economists warn that growth is becoming increasingly concentrated in the electronics sector as non-electronics exports weaken.

AI-fuelled electronics to keep Singapore exports resilient, but growth becoming increasingly concentrated The gap between electronics and non-electronics exports widens further in June SINGAPORE Artificial intelligence-driven demand for electronics is expected to keep Singapore’s exports resilient in the second half, although economists warned that growth is becoming increasingly reliant on a single sector as non-electronics exports continue to weaken. This comes after Singapore’s non-oil domestic exports NODX rose 20.7 per cent year on year in June https://www.businesstimes.com.sg/singapore/economy-policy/singapores-key-exports-rise-20-7-june-missing-forecasts-despite-ai-led-electronics-boom , moderating from the 38.4 per cent increase in May. Although June’s NODX growth fell short of economists’ median forecast of 28.7 per cent, OCBC’s chief economist Selena Ling said electronics exports nevertheless recorded their “strongest... growth for as far back as 1998”.