Singapore’s non-oil domestic exports (NODX) grew 20.7% yoy in June 2026, moderating from a 38.4% jump in May and falling short of forecasts of 30.2%.
It was the ninth straight month of expansion, though the slowest growth since March, with electronics continuing to grow strongly (105.1% vs 94.8% in May), supported by robust AI-related demand.
Electronic exports were driven mainly by disk media products (170.9%), ICs (115.4%), and PCs (95.8%).
By contrast, non-electronics fell 2.9% in June, reversing a 17.7% rise in May, due to lower shipments of non-monetary gold (-49.0%), petrochemicals (-27.9%), and food and preparation (-38.6%).
Among trading partners, shipments increased to Taiwan (123.3%), South Korea (62.9%), Thailand (41.5%), the US (36.7%), Hong Kong (25.9%), China (7.4%), and the EU (20.8%).
Monthly, NODX advanced 7.7%.
NODX grew by 18.6% in H1 of 2026.
In May, the country raised its 2026 forecast for NODX growth to 3.0%–5.0%, up from the previously estimated 2.0%–4.0%