Singapore is one of the world’s most connected countries, strategically located along the world’s major trade, shipping and aviation routes.
Singapore’s strategic location – within six-hour radius of any Southeast Asian country – making it an ideal hub to access the region and its growing consumer market.
Having a strong network of Free Trade Agreements (FTAs) has also boosted Singapore’s draw for some of the world’s leading companies and start-ups hoping to base their operations in the region.
Having excellent infrastructure and connectivity has helped Singapore achieve world-class logistics standards.
Overall Unemployment rate
2022 : 2.1%
CPI – All Items2022 : 6.1%
Key FDI’s Sectors in 2022
- Aviation
- Hospitality
- Foods & Bevarges
- Retails
Singapore has the most extensive network of Free Trade Areas, covering 60% of the world’s GDP. Its 13 bilateral and 11 regional FTAs include some of the largest combined trade agreements – as part of ASEAN – in the ASEAN-China, ASEAN-India, and ASEAN-Hong Kong trade blocs.
Singapore next generation Port at Tuas is set to be a game-changer in port and supply chain operations. This is in light of the state-of-the-art technology that will come into play, such as autonomous truck platooning and next-generation gate systems that will ease traffic and increase port efficiency.
2022 SINGAPORE IN BRIEF
Total population = 5.64 million
GDP = USD 479.8 billion
GDP per Capita = USD 82,808
GDP Growth = 3.6%
Trade Balance = USD 126 billion
Top 10 Export
Total Value = USD 473.9 billion
COUNTRY/REGION
1. China (13.0%)
2. Hong Kong (12.0%)
3. Malaysia (11.0%)
4. USA (9.3%)
5. Indonesia (7.6%)
6. South Korea (4.3%)
7. Japan (4.3%)
8. Thailand (3.6%)
9. Vietnam (3.5%)
10. Australia (3.4%)
PRODUCT
1. Electrical, electronic equipment (35.0%)
2. Machinery, nuclear reactors, boilers (15.0%)
3. Mineral fuels (13.0%)
4. Commodities (6.9%)
5. Optical, photo, medical apparatus (4.5%)
6. Pearls, precious stones, metals, coins (4.4%)
7. Plastics (3.0%)
8. Original chemicals (2.7%)
9. Essential oils, perfumes, cosmetics (2.0%)
10. Pharmaceutical products (1.9%)
Top 10 Import
Total Value = USD 385.8 billion
COUNTRY/REGION
1. China (15.0%)
2. Malaysia (14.0%)
3. USA (12.0%)
4. South Korea (7.3%)
5. Japan (6.4%)
6. Indonesia (4.3%)
7. United Arab Emirates (3.8%)
8. Thailand (3.1%)
9. France (3.1%)
10. Switzerland (2.7%)
PRODUCT
1. Electrical, electronic equipment (33.0%)
2. Mineral fuels (22.0%)
3. Machinery, nuclear reactors, boilers (14.0%)
4. Pearls, precious stones, metals, coins (5.6%)
5. Optical, photo, medical apparatus (3.3%)
6. Original chemicals (2.2%)
7. Plastics (1.8%)
8. Aircraft, spacecraft (1.5%)
9. Miscellaneous chemical products (1.2%)
10. Pharmaceutical products (1.1%)