Singapore has revised its 2026 forecast for non-oil domestic exports (NODX) upward, citing continued demand linked to artificial intelligence. On Tuesday, Enterprise Singapore stated that due to stronger-than-expected performance in the first half of the year, driven by a surge in electronics demand, the city-state's NODX is now projected to grow between 14.0% and 16.0%. This is a significant increase from the previous forecast range of 3.0% to 5.0%.

Enterprise Singapore anticipates that export growth will remain supported by AI-related demand. The agency noted that positive outlooks from major electronics companies and firmer prices for key electronic components should also provide a boost to these exports. However, it cautioned that a high base effect could temper export growth in the second half of the year.

The agency also highlighted risks to its outlook, including the prolonged conflict in the Middle East and the potential for higher tariffs imposed by the United States.