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Singapore non-oil exports data and AI demand lift SGD vs USD

Commerzbank said electronics exports surged on AI-related semiconductor demand, supporting SGD even after June non-oil domestic exports growth moderated to 20.7% year-on-year.

Reported · Written up by our desk · Major Pairs

Commerzbank analysts Moses Lim and Dr. Henry Hao said Singapore’s June non-oil domestic exports growth moderated to 20.7% year-on-year, but the pace remained strong.

They pointed to a surge in electronics exports tied to AI-related semiconductor demand, arguing that resilient export prospects could offset disruption in the chemical sector.

The bank also said continued AI infrastructure investment may help sustain overall export momentum, while clearer global trade policies and easing Middle East tensions could support a recovery in non-electronics exports.

In the currency market, USD/SGD was trading near 1.2910, according to FXStreet.

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