Singapore Non-Oil Exports Surge 24.5% in April Driven by AI Chip Demand

According to Enterprise Singapore data released on May 18, Singapore’s non-oil domestic exports rose 24.5% year-over-year in April, led by electronics and pharmaceuticals. Electronics exports jumped 66.7%, driven by stronger shipments of chips, disk media products, and personal computers, while non-electronics exports increased 10.9% on demand for pharmaceuticals, specialised machinery, and measuring instruments.

Exports to the US surged 59.6%, while shipments to China and South Korea climbed 37.8% and 71.2% respectively. Total exports increased 31.8% as oil exports rose 55.2%.