Singapore Upgrades 2026 Exports Growth Forecast on Sustained AI-Related Demand
By Megan Cheah
Singapore has raised its 2026 growth projection for non-oil domestic exports, citing sustained artificial-intelligence-related demand.
The city-state's non-oil domestic exports are expected grow between 14.0% and 16.0% this year following a stronger-than-expected first half performance led by a surge in electronics, Enterprise Singapore said Tuesday.
This is a sharp increase from the previous forecast range of 3.0% to 5.0%.
Enterprise Singapore expects exports to remain supported by the continued AI-related demand. Favorable guidance from major electronics companies and firmer prices of key electronics products should also buoy these exports, it said.
Still, high-base effects could temper export growth in the latter part of the year, Enterprise Singapore said. It also flagged risks to its outlook such as a prolonged Middle East conflict and higher tariffs imposed by the U.S.
Singapore's non-oil domestic exports grew 27.4% in the second quarter, beating expectations.
The city-state also raised its 2026 economic growth forecast after a better-than-expected first half, although officials remain cautious of continuing risks to the global economy.
Write to Megan Cheah at megan.cheah@wsj.com
(END) Dow Jones Newswires
August 10, 2026 20:59 ET (00:59 GMT)
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