Survey: Singapore's Exports May Accelerate in July

According to the median expectations of five economists surveyed by the media, Singapore's non-oil domestic exports in July are expected to grow by 26.50%, accelerating from 20.7% in June. DBS economists stated in a report that strong AI-related demand for storage chips and server-related products should continue to drive export growth, primarily led by the shipment of electronic products. They added that non-electronic product exports could see a rebound due to favorable base effects; however, due to ongoing disruptions in the Strait of Hormuz, shipments of petrochemical products are expected to remain weak. The data will be released next Monday.