Singapore is the 15th largest export economy in the world and the 4th most complex economy according to the Economic Complexity Index (ECI). In 2017, Singapore exported $320B and imported $293B, resulting in a positive trade balance of $27.2B. In 2017 the GDP of Singapore was $323B and its GDP per capita was $93.9k.
Imports in Singapore increased to 41100.06 Million SGD in April from 40291.44 Million SGD in March of 2019. Imports in Singapore averaged 14783.42 Million SGD from 1964 until 2019, reaching an all time high of 44689.59 Million SGD in October of 2018 and a record low of 266.38 Million SGD in July of 1964. The biggest import product, with 43 percent share, is machinery and equipment (with ...
As mentioned above, Singapore is one of the largest exporters in the world and its main trading partners are China, Malaysia, Indonesia, Hong Kong, and Australia.As a percentage, 14% of Singapore ’s exports go to China, Malaysia, and Indonesia import 12% each from companies in Singapore, as for Hong Kong and Australia, represent 7,5%, respectively 6% of the territory’s total exports.
Singapore’s top 10 exports represent 81.3% of the overall value of its global shipments. Pharmaceuticals was the fastest-growing among the top 10 export categories, up 41.7% from 2017 to 2018. In second place for improving export sales was the perfumes and cosmetics category which appreciated by 28.6%.
Singapore had a total export of 373,254,554.42 in thousands of US$ and total imports of 327,709,713.16 in thousands of US$ leading to a positive trade balance of 45,544,841.26 in thousands of US$ The Effectively Applied Tariff Weighted Average (customs duty) for Singapore is 0.07% and the Most Favored Nation (MFN) Weighted Average tariff is 0.21%.The trade growth is 0.51% compared to a world ...
Exports in Singapore averaged 15682.18 Million SGD from 1964 until 2019, reaching an all time high of 48730.89 Million SGD in October of 2018 and a record low of 197.68 Million SGD in July of 1964. Singapore derives most of its revenues from foreign trade. The biggest export product, with 43 percent share, is machinery and equipment.
Singapore is the 14th largest exporter and the 15th largest importer in the world. Historically, international trade has strongly influenced the economy. According to the WTO, Singapore has the highest trade to GDP ratio in the world at 407.9 percent. Due to its geostrategic location and developed port facilities, a large volume of Singapore's merchandise exports involve entrepôt trade ...
All goods imported into Singapore are regulated under the Customs Act, the Goods and Services Tax (GST) Act and the Regulation of Imports and Exports Act. Imported goods are subject to GST and/or duty payment. A customs permit is required to account for the import and tax payment of the goods. Dutiable goods, which incur both GST and duty, are:
Top Singapore Imports 2018. In 2018, Singapore bought US$370.5 billion worth of imported products up by 1.2% since 2014 and up by 13.1% from 2017 to 2018.
Singapore’s top 10 imports represent more than four-fifths (84.5%) of the overall value of its product purchases from other countries. Imported aircraft and spacecraft was the fastest-growing top category thanks to its 47.1% year-over-year gain. In second place for higher import purchases were mineral fuels including oil via its 21.4% uptick.