Singapore Raises 2026 Export Growth Forecast to 3%–5%
Singapore raised its 2026 forecast for non-oil domestic exports (NODX) growth to 3.0%–5.0%, up from the previously estimated 2.0%–4.0%, supported by a better-than-expected first-quarter performance, particularly in electronics (+57.8%) amid strong AI-related demand. However, the outlook remains clouded by uncertainties from the Middle East conflict and potential re-escalation of trade tensions, Enterprise Singapore said on Monday. Meanwhile, NODX grew 9.6% in the first quarter of 2026, following a 12.7% expansion in the fourth quarter of 2025 and coming in stronger than expected, with electronics surging 57.8%, well above 23.4% growth in the fourth quarter of 2025. By contrast, non-electronic exports fell 3.5%, reversing a 9.4% rise in the fourth quarter.
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