Singapore
Asia & Middle East
Trade in Singapore
| Singapore was the world’s 16th largest exporter of goods and 8th largest exporter of commercial services in 2022. Export values were $515.80 billion and $291.26 billion USD respectively. Singapore’s top export category was Manufactures, followed by Machinery and transport equipment, and Office and telecom equipment. In 2022, Singapore’s main export destination markets for goods and services trade were to China, Hong Kong, China and United States, with trade representing 336.86 per cent of GDP. In terms of imports, Singapore is the world’s 16th largest importer of goods and 8th largest importer of commercial services. Import values were $475.58 billion and $258.62 billion USD respectively in 2022. Singapore’s top import category was Manufactures, followed by Machinery and transport equipment and Office and telecom equipment. Leading import partners were China, Malaysia and United States. Singapore is part of 28 different Regional Trade Agreements, including ASEAN – Australia – New Zealand and ASEAN – China. |
General InformationThis section includes general information on the economy, legal system, official languages and links to additional demographic information. |
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Official Name |
Republic of Singapore |
Abbreviation |
SG |
Capital |
#FIELD! |
WTO Membership Date |
1 January 1995 |
Legal System |
English common law |
Language |
Mandarin Chinese, Malay, Tamil, English |
Number of Time Zone(s) |
1 |
Additional Information | |
Financial InformationThis section includes financial information such as the currency, exchange rate lookup and local banks issuing trade finance. |
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Currency |
Singapore dollar |
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Exchange Rate |
Google Finance Currencies |
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GTFP Confirming Banks Through the IFC's Global Trade Finance Program (GTFP) bank network, local financial institutions can establish working partnerships with a vast number of major international banks in the Program that can broaden access to finance and reduce cash collateral requirements. This extends and complements the capacity of banks to deliver trade finance by providing risk mitigation on a per-transaction basis in challenging markets where trade lines may be limited. |
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Contact InformationThis section includes contact information for business support organizations and national resources. |
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Government MSME Agency |
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Industrial Property Offices |
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SPS Enquiry Points Sanitary and phytosanitary (SPS) enquiry points are government agencies designated to answer questions about trade requirements. |
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TBT Enquiry Points Technical Barriers to Trade (TBT) enquiry points are government agencies designated to answer questions about trade requirements. |
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Additional Information |
ePing alert |
Links to other helpful resourcesThis section includes additional links to trade-related resources. |
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National Tariff Finder |
https://www.enterprisesg.gov.sg/non-financial-assistance/for-singapore-companies/free-trade-agreements/ftas/tariff-finder |
Trade Information Portal |
https://www.ntp.gov.sg/home/ |
Last Reviewed: June, 2024
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