Singapore's non-oil domestic exports (NODX) surged 68.4% year over year in September 2026, accelerating from a downwardly revised 46.1% jump in August.
The expansion far exceeded the consensus forecast of 33.8% tracked by Trading Economics, marking the 23rd consecutive month of growth and the strongest increase on record.
The surge was driven by robust artificial intelligence-related demand for electronics and a sharp rise in non-electronic exports, primarily due to shipments of ship and boat structures, according to data released by Enterprise Singapore on Friday.
Electronic NODX surged 107.6% in September, moderating from 131.6% growth in August. Disk media products led the expansion, rising 312.4%, while personal computers increased 149.5% and integrated circuits grew 74.7%.
In value terms, disk media products contributed SG$1.7 billion to growth, followed by integrated circuits at SG$1.5 billion and personal computers at SG$0.9 billion.
Non-electronic NODX rose 54.2%, up from 11.9% in August.
Ship and boat structures contributed SG$3.7 billion to growth, followed by non-monetary gold at SG$1.1 billion and specialized machinery at SG$1.0 billion.
Among Singapore's key export markets, NODX to Hong Kong jumped 112.1% year over year in September, while exports to Taiwan rose 96.9% and those to the U.S. increased 73.2%.
Exports to India declined 5.6%, the data showed.
Meanwhile, non-oil re-exports expanded 47.8% in September, moderating from 53.2% growth in August. Electronic re-exports rose 64.2%, while non-electronic re-exports increased 22.1%.
Singapore recorded a trade surplus of SG$9.04 billion in September 2026.
Total merchandise trade grew 50.8% year over year in September, accelerating from 44.4% in August. Total exports increased 51.5%, while imports rose 49.9%.
