Singapore’s non-oil domestic exports (NODX) surged 68.4% year-on-year in September 2026, sharply up from a downwardly revised 46.1% increase in August and far surpassing market expectations of 33.8%. This marked the 23rd consecutive month of expansion and the strongest growth on record, driven primarily by a spike in electronics shipments, which jumped 107.6% (after a 131.6% rise in August) on the back of robust AI-related demand.
Within electronics, exports were buoyed by disk media products (up 312.4%), PCs (149.5%), and integrated circuits (ICs) (74.7%). Non-electronic exports also gathered momentum, with growth accelerating to 54.2% from 11.9% in August, supported by higher shipments of non-monetary gold (124.3%) and specialised machinery (50.4%).
Exports rose to nine of Singapore’s ten key markets, while shipments to India declined 5.6%. On a month-on-month, seasonally adjusted basis, NODX jumped 25.5% after a downwardly revised 10.8% increase in August, marking the fastest monthly rise on record.
