Get quick analyses with our professional research service. Singapore Trading Challenges. Below is a list showcasing 25 of Singapore's top trading partners. List of the largest trading partners of China - Wikipedia Available: https://www.statista.com/statistics/1113577/singapore-leading-merchandise-trade-partners-by-value/, Leading merchandise trading partners of Singapore in 2021, by value, Immediate access to statistics, forecasts & reports, Trade to GDP ratio of Singapore 2012-2021, Net trade in goods and services in Singapore 2013-2022, Value of trade in services in Singapore 2013-2022, Value of exports in services in Singapore 2013-2022, Value of imports of services in Singapore 2013-2022, Distribution of services exports in Singapore 2022, by type, Distribution of services imports in Singapore 2022, by type, Largest services trading partners Singapore 2020, by value, Value of merchandise trade in Singapore 2015-2022, by trade flow, Year-on-year change in merchandise trade in Singapore 2017-2021, Annual change in merchandise exports in Singapore 2016-2021, Annual change in merchandise imports Singapore 2016-2021, Export value of goods from Singapore 2022, by commodity, Largest merchandise trading partners Singapore 2021, by value, Total exports of energy products in Singapore 2011-2021, Imports of crude oil in Singapore 2005-2021, Exports of crude oil from Singapore 2005-2021, Breakdown exports energy products in Singapore 2021, by type, Breakdown of exports petroleum products in Singapore 2021 by type, Distribution of non-oil re-exports from Singapore 2022, by commodity, Distribution of non-oil domestic exports from Singapore 2022, by commodity, Breakdown of non-oil re-exports from Singapore 2022, by commodity, Breakdown of non-oil domestic exports from Singapore 2022, by commodity, Growth of non-oil domestic exports to leading markets Singapore 2022, Value of U.S. merchandise trade with the Dominican Republic 2000-2010, Value of U.S. merchandise trade with India 2000-2010, Value of U.S. merchandise trade with Panama 2000-2010, Value of U.S. merchandise trade with Sri Lanka 2000-2010, Value of U.S. merchandise trade with Egypt 2000-2010, Value of U.S. merchandise trade with Indonesia 2000-2010, Value of U.S. merchandise trade with Peru 2000-2010, Value of U.S. merchandise trade with Switzerland 2000-2010, Value of U.S. merchandise trade with Belgium 2000-2010, Value of U.S. merchandise trade with El Salvador 2000-2010, Value of U.S. merchandise trade with Algeria 2000-2010, United Kingdom: export value of goods to the European Union 2000-2019, Sumitomo's profit breakdown FY 2021, by segment, Leading merchandise trading partners of Singapore in 2021, by value (in billion Singapore dollars), Find your information in our database containing over 20,000 reports. Education is highly valued in Singapore, and its education system is elaborately structured. Muddied economic outlook for Singapore as main trading partners - TODAY "Even with the recent stockpiling of natural gas, its availability may come under strain if the winter were colder than usual or if existing non-Russian gas flows to the Eurozone fail to replenish gas storages durably.". This was followed by neighboring Malaysia, with a. The U.S. services trade surplus with Singapore was $13.5 billion in 2020. Largest merchandise trading partners Singapore 2021, by value U.S. total exports of agricultural products to Singapore totaled $1.1 billion in 2020, our 25th largest agricultural export market. Singapore was the United States' 14th largest goods export market in 2020. Economy of Singapore - Wikipedia Singapore's largest trading partner was China, which shared 13.2% to total Singapore imports and 13.2% to total Singapore exports. LPI 2016 ranks 160 countries on six dimensions of trade -- including customs performance, infrastructure quality, and timeliness of shipments -- that have increasingly been recognized as important to development. The proportion of goods imported from non-EU . Upgraded but still having issues? Following PRC President Xi Jinping's State Visit to Singapore in 2015, both sides agreed to launch negotiations to upgrade the China-Singapore Free Trade Agreement (CSFTA) which had entered into force on 1 January 2009. It is calculated as the number of countries to which the reporter exports a particular product divided by the number of countries that report importing the product that year. Singapores top 10 export partners in 2019 were China For a few countries where the official exchange rate does not reflect the rate effectively applied to actual foreign exchange transactions, an alternative conversion factor is used. The first table below shows top trading partners of Singapore in terms of export sales (selling), including Malaysia, Indonesia, and Hong Kong. (4.6%), Australia (1.8%) and Africa (1.4%). According to the Department of Commerce, U.S. exports of goods and services to Singapore supported an estimated 235 thousand jobs in 2019 (latest data available) (115 thousand supported by goods exports and 120 thousand supported by services exports). 15 Best Singapore Brokers 2023 - Comparebrokers.co The largest US partners with their total trade in goods (sum of imports and exports) in billions of US dollars for calendar year 2021 are as follows: Number of countries from which a particular country imports data in any given year. Smaller percentages were recorded from Oceania shipments and Singapores top 10 export partners accounted 70.7% to overall Singapore's Top Exports 2022 The U.S. goods trade deficit with Singapore was $3.9 billion in 2020. Despite being a small country, with a population of less than 10 million people, Singapores trading partners are the most diverse in the world with roughly 220 partners. The top five UK trading partners by total trade in goods, excluding unspecified goods in the first half (January to June) of 2020 were the United States (US), Germany, China, the Netherlands and France; they accounted for 46.0% of UK total trade in goods, excluding unspecified goods in this period. The LPI uses standard statistical techniques to aggregate the data into a single indicator that can be used for cross-country comparisons. Please create an employee account to be able to mark statistics as favorites. Entrept operations account for about a third of Singapore's total export trade. SINGAPORE, Oct 28 Major economies around the world will be buffeted by the double whammy of slowing growth and "multi-decade" high inflation in the coming months, muddying the economic outlook for Singapore as its main trading partners take a hit, the Monetary Authority of Singapore (MAS) said yesterday (October 27). Service Trade Economic Complexity Overview In 2021, Singapore was the number 35 economy in the world in terms of GDP (current US$), the number 19 in total exports, the number 16 in total imports, the number 6 economy in terms of GDP per capita (current US$) and the number 6 most complex economy according to the Economic Complexity Index (ECI) . Singapore Trade | WITS Data - World Bank The president is head of state; until 1991 the largely ceremonial post of president was filled by parliamentary election, but in that year the constitution was amended to allow for the direct popular election of the president and for presidential powers to be expanded. Smaller percentages recorded from Oceania (2%), Africa (1.1%) and At the time, the inflation rate was driven by a spike in energy prices, before collapsing in September that year when the global financial crisis began. PressReader. Singapore Department of Statistics. Below is a list showcasing the top 10 of Singapores trading partners. In contrast, costlier agricultural products mainly affect food-related sectors such as food and beverage manufacturing and food and beverage services. Guangdong remains Singapore's top Chinese provincial trading partner The island has a well-developed network of roads and highways, but traffic congestion frequently is a serious problem. A number of parties contest elections, but since 1959 Singaporean politics have been dominated by the Peoples Action Party (PAP). The U.S. trade balance with Singapore shifted from a goods trade surplus of $4.8 billion in 2019 to a goods trade deficit of $3.9 billion in 2020. In this scenario, the US and Eurozone would be at risk of a deep and prolonged recession, with attendant spillovers to externally oriented Asian economies, said MAS. In China, the economy is expected to continue to recover from the sequential contraction experienced in the second quarter, supported by the Chinese governments commitment to increase infrastructure spending. Country Singapore Year/Range 2019 Trade Flow Exports & Imports List of countries by leading trade partners - Wikipedia Economic Policy & Debt: National accounts: Shares of GDP & other. To smooth fluctuations in prices and exchange rates, a special Atlas method of conversion is used by the World Bank. which shared 13.2% to total Singapore imports and 13.2% to total Singapore Singapore was the United States' 17th largest supplier of goods imports in 2020. Show publisher information At the same time, consumer demand for electronic devices in Singapores top two final-demand markets, China and the US, has contracted, adversely impacting Singapores electronics exports in recent months. billion). Singapore Exports June 2023 Data - 1964-2022 Historical - TRADING ECONOMICS A country with trade (export or import) that is concentrated in a very few markets will have an index value close to 1. Thiswill in turn have an effect on the Singapore economy, which is expected to see growth of 3 to 4 per cent this year and moderate to a "below-trend" pace in 2023, MAS said. The government and voluntary associations, the latter coordinated by the Council of Social Service, provide welfare services for the aged, sick, and unemployed. Trade and Investment at a glance 2021 Singapore's trade surplus grew 43.8% from $31.4 billion a year earlier. MAS noted that global inflation hit its last record high in the third quarter of 2008, when headline inflation peaked at 6.5 per cent. Monetary Authority of Singapore sees muddied economic outlook as main Singapore | United States Trade Representative "Supply frictions and a brisk recovery in demand, particularly for goods, have led to a rapid erosion of spare capacity and put significant upward pressure on costs and prices in many economies," said MAS. Notable in this capacity has been the oil-refining industry. MAS noted that global inflation hit its last record high in the third quarter of 2008, when headline inflation peaked at 6.5 per cent. from European suppliers, while 13.5% worth of commodities originated from North Singapore also has many bilateral and regional FTAs including with Australia, China, Costa Rica, India, Japan, Jordan, New Zealand, Republic of Korea, Panama, Peru, Sri Lanka, European Union, United Kingdom and Turkey. The main duties of the air force are air defense, support of ground forces, and long-range surveillance and tracking. Show sources information Traditional Chinese and Indian music, painting, and drama are practiced by numerous cultural societies and professional groups. As a Premium user you get access to background information and details about the release of this statistic. You only have access to basic statistics. It has a long history of being a middleman, transporting raw materials such as rubber, wood and spices from Southeast Asia in exchange for finished products, which are exported to its major trading partners. Major imported goods to Singapore are Electrical Machinery, Oil & Mineral Fuels; Industrial Machinery; Precious Stones & Metals; Precision Instruments; Aircraft; Plastics; Organic Chemicals; Motor Vehicles & Parts; Cosmetics. The Eurozone is vulnerable to further disruptions to gas supplies, which will impart strong knock-on effects on global energy prices, said MAS. Learn more about how Statista can support your business. The government-owned Singapore Broadcasting Corporation controls all local radio and television broadcasting. Singapore is currently our 17th largest goods trading partner with $57.8 billion in total (two way) goods trade during 2020. The United States has a services trade surplus of an estimated $13.5 billion with Singapore in 2020, down 6.2 percent from 2019. Recent numbers are not far off. SINGAPOREMajor economies around the world will be buffeted by the double whammy of slowing growth and "multi-decade" high inflation in the coming months, muddying the economic outlook for Singapore as its main trading partners take a hit. Starting a business in Texas checklist - 9 things you cannot skip, Starting a business in California - Important tasks to do, Electrical machinery, equipment: US$132.2 billion (35.3% of total exports), Machinery including computers: $58.2 billion (15.5%), Mineral fuels including oil: $30.3 billion (8.1%), Optical, technical, medical apparatus: $20.8 billion (5.6%), Gems, precious metals: $20.3 billion (5.4%), Plastics, plastic articles: $12.9 billion (3.5%), Miscellaneous food preparations: $6 billion (1.6%). Singapore is a country in Asian continent, which stood as the world's 16 th largest import country and 15 th largest export country in 2019. For India NTM's in Chapter A and B are not covered. The parliamentary majority selects the prime minister, who is head of government, and the cabinet from its own ranks, and they in turn form the government. Amid the spectre of slowing growth and high inflation in the coming months, Singapore's main trading partners are not spared; Dragged down by a slowdown in trade, Singapore's economy is also . Singapores international airport, Changi, at the eastern end of the main island, is a major regional and overseas air hub. Currently, up to 21 of the world's top 25 logistics service providers are headquartered in Singapore. China, the United States, Indonesia, Malaysia and Japan are the countries that are accountable for the majority of Singapore's imports by country. Those on academic tracks are further channeled into four- or five-year courses of instruction. billion), Taipei, Chinese (USD 16.3 billion), Thailand (USD 15.3 billion), These countries accounted 68.9% to overall value of import shipments. Sales of services in Singapore by majority U.S.-owned affiliates were $88.1 billion in 2018 (latest data available), while sales of services in the United States by majority Singapore-owned firms were $6.8 billion. Singapore Major Trade Partners - Countryaah.com Share with others! Please check the, Latest trade data available from various sources, The data from various sources are not from the same year, For viewing trade, tariff data for country or region by year click here, Top 5 Products exports imports at HS 6 digit level, Overall Trade Restrictiveness Index (OTRI), Services Service Policy Restrictive Database (SPRD), Country Policy and Institutional Assessment (CPIA), GNI per capita, Atlas method (current US$). "While growth in the economy should continue to be supported by expansions in the domestic-oriented and travel-related sectors, the pace of discretionary spending is likely to moderate as high inflation and the uncertain economic environment dampen consumer sentiment.". China is suffering from trade wars with the United States. Directly accessible data for 170 industries from 150+ countries Buying and selling are essential for any country to develop its economy and maintain good relations with other nations. GeBIZ | Home MAS' review comes after it had earlier this month tightened monetary policy for the fifth time in 12 months to dampen persistent inflation here. Tariffs can be based on the Applied tariffs, which takes into account the bilateral trade preferences, The ad valorem equivalent of NTB were estimated by Kee, Nicita and Olarreaga (EJ, 2009), The OTRI captures the trade policy distortions that each country imposes on its import bundle. While this is expected to moderate to 3.2 per cent next year, there is a risk that the global economy will slip into a deep and protracted downturn, as risks of further disruptions to gas supplies in Europe may have knock-on effects on global energy prices, it added. In sum, it said, global inflation and growth are expected to diverge further in the near term. Looking forward, there remains a high likelihood that the Eurozone will dip into a technical recession, due to the impact of higher gas prices and general cost and price pressures faced by businesses and consumers. statistic alerts) please log in with your personal account. China: US$51.5 billion (13.8%) Hong Kong: $46.2 billion (12.4%) United States: $40.2 billion (10.7%) The date here reflects the date of access. Statista. Get quick analyses with our professional research service. Citation formats View options Other statistics on the topic Trade in Singapore Economy Leading export. Leading services imports from Singapore to the U.S. were in the research and development, financial services, and professional and management services sectors. The government monitors the press to a certain extent and on occasion places circulation restrictions on periodicals and newspapers that are critical of its policies. For more information click, Number of products at HS 6 digit level that are affected in a particular year. The PAPs ability to maintain its control largely has been attributable to Singapores rapid economic growth and improved social welfare. America. Singapores largest trading partner was China, Then you can access your favorite statistics via the star in the header. 1 Singapore dollar is equal to 0.75 U.S. dollars and 0.70 euros as of January 2023. as the worlds 16th largest import country and 15th Singapore has built on its favorable geographical position to become one of the world's leading air and sea freight hubs. Number of distinct NTM measures in effect in a country in a particular year. The significant tightening of global financial conditions and continued Covid-19 restrictions in some countries are expected to weigh on growth in Singapores major trading partners, said MAS. A Singapore . The top export categories (2-digit HS) in 2020 were: machinery ($5.1 billion), electrical machinery ($4.1 billion), aircraft ($3.5 billion), optical and medical instruments ($2.9 billion), and mineral fuels ($2.5 billion). Singapore Trading Partners. One of the reasons that makes Singapore an ideal environment to do business is its well-developed infrastructure network and modern technology. Singapores manufacturing and transport services sectors are heavily affected by energy cost shocks. The first table below shows top trading partners of Singapore in terms of export sales (selling), including Malaysia, Indonesia, and Hong Kong. Subscribe to get daily news updates, insights and must reads delivered straight to your inbox. Below is a list showcasing the top 10 of Singapore's trading partners. Major imports are machinery and transport equipment and crude petroleum, while machinery and refined petroleum products are the major exports. In a special feature included in the review, MAS said that it had carried out a study to examine how recent surges in global energy and agricultural product costs affected inflation across countries and sectors, eventually transmitting to domestic prices in Singapore.
Indoor Golf Sandusky, Ohio,
Matthew Kacsmaryk Religion,
Show Pigs For Sale In Michigan,
Does Deer Taste Gamey,
Articles S