Singapore’s Electronics Exports Jump by Record on AI Demand Boom

Singapore’s electronic exports last month rose by the most on record on robust global demand for artificial intelligence-related equipment.

Shipments in May jumped almost 95%from a year ago to S$7.1 billion ($5.5 billion), according to an Enterprise Singapore report on Wednesday. Integrated circuits remained the main driver, expanding nearly 81%. The city-state’s overall non-oil domestic exports rose 38%.

Demand for semiconductors, electronics and other goods powering the artificial intelligence has boomed this year, powering economies across Asia including South Korea, Japan, Taiwan and even China.

Singapore, too, is supported by external demand driven by robust ...