<\/p>\n
Singapore\u2019s non-oil domestic exports rose by 24.2% in July, the government said, following a 20.8% increase in June driven by robust AI-related demand.<\/p>\n
July\u2019s data came after the government sharply raised its growth forecast for 2026 earlier this month due to a strong thirst for products linked to artificial intelligence.<\/p>\n
The growth was supported by a surge in electronic shipments, which grew by 112% in July, higher than the 105.1% in June, government trade agency Enterprise Singapore said.<\/p>\n
Disk media products performed best, with a 339.1% increase, followed by integrated circuits and personal computers at 120.8% and 84.5%, it said in a statement.<\/p>\n
Singapore\u2019s non-electronic exports however, fell by 2.3%, owing to a decline in pharmaceutical exports, which dipped by 56.7%.<\/p>\n
Petrochemicals and food preparations exports fell by 22.5% and 17.9%, respectively.<\/p>\n
Singapore\u2019s government has said it expects global demand related to AI will help cushion the city-state\u2019s economy from the impact of war in the Middle East.<\/p>\n
While AI investment has been \u201cstronger than expected\u201d, it says the Iran war\u2019s impact on the wider global economy has been \u201cless severe than initially feared\u201d.<\/p>\n
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