Exporting to Singapore

Singapore Export Guide | Trade Finance Global

Exporting to Singapore

Singapore’s exports peaked at $9,196 million recently due to the country’s existing infrastructure and skilled workforce that allowed it to purchase raw goods and manufacture them for re-export such as in the industries of water fabrication and oil refining. Citing the Harmonized System (HS) classification the top exports of Singapore are namely: refined petroleum (at least $60 billion), integrated circuits ($40 billion) and oxygen amino compounds (around $6 billion). Meanwhile, Hong Kong ($30 billion), China ($30 billion) and Indonesia ($30 billion) were considered top export destinations of Singaporean products.

Singapore Country Profile

Official Name (Local Language)Republic of Singapore
CapitalSingapore
Population5,781,728
CurrencySingapore Dollar
GDP$296.6 billion
LanguagesChinese; English
Telephone Dial In65

Singapore Imports Profile

Imports ($m USD)

327,71

Number of Import Products

4,309

Number of Import Partners

222

Top 5 import partners

Country

Trade

%

China

45,344

13.84

Malaysia

38,86

11.86

United States

34,619

10.56

Other Asia, nes

27,139

8.28

Japan

20,485

6.25

Top 5 Import Products at HS 6 digit level

Export product

Number

Monolithic integrated circuits, nes

18.1%

Petroleum oils, etc, (excl. crude); preparation

14.3%

Petroleum oils and oils obtained from bituminou

6.5%

Gold in oth semi-manufactured forms,non-monetar

4.0%

Parts of turbo-jets or turbo-propellers

2.7%

Chart Showing GDP Growth Compared to rest of world

GDP Composition for Singapore

Agriculture

%

Product list

0%

Orchids, vegetables; poultry, eggs; fish, ornamental fish

Industry

%

Industry list

26.6%

Electronics, chemicals, financial services, oil drilling equipment, petroleum refining, rubber processing and rubber products, processed food and beverages, ship repair, offshore platform construction, life sciences, entrepot trade

Services

%

Services list

73.4%

NA

Importing from Singapore: What is trade finance?

Singapore’s exports peaked at $9,196 million recently due to the country’s existing infrastructure and skilled workforce that allowed it to purchase raw goods and manufacture them for re-export such as in the industries of water fabrication and oil refining. Citing the Harmonized System (HS) classification the top exports of Singapore are namely: refined petroleum (at least $60 billion), integrated circuits ($40 billion) and oxygen amino compounds (around $6 billion). Meanwhile, Hong Kong ($30 billion), China ($30 billion) and Indonesia ($30 billion) were considered top export destinations of Singaporean products.

Information

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Singapore Economic Statistics

Government Website

https://www.gov.sg/

Sovereign Ratings

https://countryeconomy.com/ratings/singapore

Central Bank

Monetary Authority of Singapore

Currency USD Exchange Rate

1379

Unemployment Rate

2.1%

Population below poverty line

NA

Inflation Rate

-0.8%

Prime Lending Rate

1.17%

GDP

$296.6 billion

GDP Pro Capita (PPP)

$87,100

Currency Name

Singapore Dollar

Currency Code

SGD

World Bank Classification

High Income

Competitive Industrial Performance

2/138

Corruption Perceptions Index

6/180

Ease of Doing Business

2/190

Enabling Trade Index

1/136

Currency in Singapore

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