Singapore's non-oil domestic exports surged by 46.2 percent in August from a year earlier, government data showed on Thursday, a fifth straight month of growth above 20 percent as electronic shipments continued to be powered by robust AI-related demand.
LSEG data showed it was the largest rise in exports in a series dating back to November 2005.
The figure was higher than the median forecast of 35.3 percent growth in a Reuters poll.
Electronics exports rose by 131.8 percent in August from a year earlier, and shipments of non-electronics rose by 12.0 percent, Enterprise Singapore said in a statement.
Shipments rose to nine of Singapore's top 10 markets, with exports to the United States rising by 91.0 percent from a year earlier. Shipments to China and South Korea rose by 70.3 percent and 87.1 percent, respectively.
In August, Enterprise Singapore upgraded its forecast for growth this year in non-oil domestic exports to 14 percent to 16 percent, from 3 percent to 5 percent.
Reuters
