Singapore’s non-oil domestic exports surged 38.4 per cent year-on-year in May 2026, the strongest growth since 2003, driven mainly by booming AI-related demand. Electronics exports jumped 94.8 per cent, led by integrated circuits, disk media products and PCs, as major technology companies increased spending on AI infrastructure.
Exports to Taiwan, the United States and China rose strongly, while pharmaceutical shipments also surged, partly due to companies accelerating exports ahead of planned US tariffs. Economists upgraded their outlook for Singapore’s exports and economic growth, citing sustained AI investment, resilient global demand and Singapore’s key role in the semiconductor and technology supply chains.
