As a Premium user you get access to the detailed source references and background information about this statistic. The 30 largest trade partners of the United States represent 87.9% of U.S. exports, and 87.4% of U.S. imports as of 2021. January 4, 2023. U.S. foreign direct investment (FDI) in Singapore (stock) was $270.8 billion in 2020, a 3.9 percent increase from 2019. The government-owned Singapore Broadcasting Corporation controls all local radio and television broadcasting. Primary education is free and lasts from six to eight years; the language of instruction is English, and students are required to learn any one of the other three official languages as a second language. Number of countries from which a particular country imports data in any given year. Latest trade data available from various sources. Indeed, Singapore's manufacturing sector already weakened in the third quarter, shrinking by 3.2 per cent. Contact us. The administrative structure consists of the various ministries and statutory boards. Singapore is an important partner of the United States with a bilateral, gold standard Free Trade Agreement (FTA) signed in 2003 and implemented January 1, 2004 - the first U.S. FTA signed in Asia. Currently, up to 21 of the world's top 25 logistics service providers are headquartered in Singapore. At the same time, persistently strong inflation would also lead to a larger erosion of real incomes and restrain private consumption. Statista. U.S. total imports of agricultural products from Singapore totaled $3.3 billion in 2020, our 9th largest supplier of agricultural imports. In addition, should inflation turn out to be more entrenched and persistent than expected, or if labour market pressures fail to ease, then central banks may be compelled to adopt more restrictive policy settings, which would further drive up interest rates and curb global demand. Experience a ride on the Eastern and Oriental Express traveling from Singapore to Bangkok, Match the Country with Its Hemisphere Quiz. Singapores top 10 import partners in 2019 were China Find COVID-19 Vaccines Near You: Vaccines.gov (English) Vacunas.gov (Spanish)Text your zip code to 438829 (GETVAX) in English or 822862 (VACUNA) in Spanish. 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 country with trade (export or import) that is concentrated in a very few markets will have an index value close to 1. China, the United States, Indonesia, Malaysia, and Japan are Singapores principal trading partners. Singapore Trade Statistics. Largest merchandise trading partners Singapore 2021, by value In 2020, Saudi Arabia major trading partner countries for exports were Unspecified, United Arab Emirates, China, India and Singapore and for imports they were China, United States, United Arab Emirates, Germany and India . Subscribe Our Blog for Global Market Updates, Download Sample Report of Import Export Trade Data, Here are some related articles that you might enjoy next. 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. 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. Citation formats View options Other statistics on the topic Trade in Singapore Economy Leading export. value of shipments recorded in 2019. Along with the changes in the composition of trade that had taken place since independence, there also were changes in direction. Latin America (0.7%). Singapore is a unitary parliamentary democracy based on the Westminster model. "Dampened global and regional trade flows will adversely affect activity in Singapores manufacturing, wholesale, water transport and storage sectors, even as global supply frictions continue to ease," said MAS. Singapore Major Trade Partners - Countryaah.com Number of countries to whom a particular country exports data in any given year. Overview and forecasts on trending topics, Industry and market insights and forecasts, Key figures and rankings about companies and products, Consumer and brand insights and preferences in various industries, Detailed information about political and social topics, All key figures about countries and regions, Market forecast and expert KPIs for 1000+ markets in 190+ countries & territories, Insights on consumer attitudes and behavior worldwide, Business information on 70m+ public and private companies, Detailed information for 35,000+ online stores and marketplaces. Show sources information 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. Considered the most "Tech-Ready Nation" in the world, the country's information and communication technology readiness has become one of the reasons for the country's economic success. Singapore Department of Statistics. These countries Entrept activities, where goods are transhipped and sometimes processed or manufactured in the immediate area, account for about one-third of Singapore's export trade. Lets find out what makes Singapore a logistics powerhouse and who its major trading partners are. Singapore's main exporter partners are China (15 percent of total exports), Hong Kong (12 percent), Malaysia (11 percent), Indonesia (8 percent), United States (6 percent) and Japan (5 percent). The U.S. goods trade deficit with Singapore was $3.9 billion in 2020. (2023). 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. 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. Recent numbers are not far off. Singapore Trade Statistics. Indeed, Singapore's manufacturing sector already weakened in the third quarter, shrinking by 3.2 per cent. Facebook: quarterly number of MAU (monthly active users) worldwide 2008-2023, Quarterly smartphone market share worldwide by vendor 2009-2023, Number of apps available in leading app stores Q3 2022, Profit from additional features with an Employee Account. 1 Singapore dollar is equal to 0.75 U.S. dollars and 0.70 euros as of January 2023. Ministry of Foreign Affairs Singapore - Peoples Republic of China Our Singapore More than 99% of Singapores import products are tax-free (except for cars, petrol, alcohol, cigarettes, etc.). Please see, Singapores Major Trading Partners And Figures, Starting A Small Business In Singapore For Foreigners - A Quick Guide, What does Australia import from Singapore. [Online]. Global Insights . Goods exports totaled $26.9 billion; goods imports totaled $30.8 billion. (USD 51.6 billion), Hong Kong (USD 44.3 billion), Malaysia (USD 41.1 billion), A Singapore . 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 army is by far the largest of the services and consists primarily of infantry battalions with supporting artillery, armour, engineer, and logistics units. U.S. imports of services from Singapore were an estimated $11.2 billion in 2020, 1.6 percent ($182 million) more than 2019, and 115 percent greater than 2010 levels. For India NTM's in Chapter A and B are not covered. Upgraded but still having issues? Saudi Arabia trade balance, exports and imports by country As soon as this statistic is updated, you will immediately be notified via e-mail. Singapores top 10 export partners in 2019 were China U.S. goods and services trade with Singapore totaled an estimated $93.7 billion in 2020. Similarly, a country with a perfectly diversified trade portfolio will have an index close to zero. Baca Express tampilkan 1 Kaum Berotak, Selamat datang di artikel jurnal mengenai Main Trading Partners of Singapore 2 Pendahuluan 2.1 Kelebihan 2.2 Kekurangan 3 Main Trading Partners of Singapore 4 FAQ Main Trading Partners of Singapore 5 Kesimpulan 6 Ayo Berbisnis dengan Main Trading Partners of Singapore! These countries accounted 68.9% to overall value of import shipments. Trade in services with Singapore (exports and imports) totaled an estimated $35.9 billion in 2020. Opportunities for higher education are determined by academic performance and usually involve two or three years of preuniversity instruction followed by enrollment at a university or technical college. Trade assesses how the policy framework fosters trade in goods. In sum, it said, global inflation and growth are expected to diverge further in the near term. Economic Policy & Debt: National accounts: US$ at current prices: Aggregate indicators. Learn more about how Statista can support your business. Singapore has one of the worlds busiest ports in terms of shipping tonnage. Singapore is a country in Asian continent, which stood In Asia, a further depreciation of local currencies against the US dollar could intensify imported inflationary pressures given the prevalence of the dollar in international trade invoicing, with stronger effects for economies that are net importers of food and energy.. Economic Policy & Debt: Balance of payments: Current account: Goods, services & income. Closest trading partners of Singapore include Hong Kong, Indonesia, Japan, and Malaysia. Singapore Department of Statistics. 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.. Singapore is currently our 17th largest goods trading partner with $57.8 billion in total (two way) goods trade during 2020. To use individual functions (e.g., mark statistics as favourites, set Then you can access your favorite statistics via the star in the header. Economic Policy & Debt: National accounts: Atlas GNI & GNI per capita, Difference between Exports of goods and services (current US$) and Imports of goods and services (current US$), Indicator codes: NE.EXP.GNFS.CD, NE.IMP.GNFS.CD, Difference between Exports of goods and services (% of GDP) and Imports of goods and services (% of GDP), Indicator codes: NE.EXP.GNFS.ZS, NE.IMP.GNFS.ZS. Directly accessible data for 170 industries from 150+ countries 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. Singapore Trade | WITS Data - World Bank This will 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. Singapore's Major Trading Partners And Import Products By Country ", Singapore Department of Statistics, Leading services trading partners of Singapore in 2020, by value (in billion Singapore dollars) Statista, https://www.statista.com/statistics/1193647/singapore-leading-services-trade-partners-by-value/ (last visited July 05, 2023), Leading services trading partners of Singapore in 2020, by value (in billion Singapore dollars) [Graph], Singapore Department of Statistics, March 21, 2022. 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. The following tables are based on 2016 data as shown on the CIA World Factbook. The U.S. goods and services trade surplus with Singapore was $9.6 billion in 2020. The 20 countries with the highest trade surplus in 2022, Import value of goods to Singapore 2022, by commodity, To download this statistic in XLS format you need a Statista Account, To download this statistic in PNG format you need a Statista Account, To download this statistic in PDF format you need a Statista Account. 1) AllDoing Business 2018rankings have been recalculated to reflect changes to the methodology and revisions of data due to new information. Country Saudi Arabia Year/Range 2020 Trade Flow Exports & Imports Muddied economic outlook for Singapore as main trading partners - TODAY Number of distinct NTM measures in effect in a country in a particular year. In, Singapore Department of Statistics. Singapore is linked by rail to Peninsular Malaysia via the connecting causeway at Johor. In its bi-annual macroecononomic review, MAS also said that global inflation is expected to reach 5.4 per cent for this year, the highest since 2008. Service Trade Economic Complexity Overview In 2021, Singapore was the number 35 economy in the world in terms of GDP (current US$), 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) . If you close this box or continue browsing, we will assume you agree with this. Education is highly valued in Singapore, and its education system is elaborately structured. Major imports are machinery and transport equipment and crude petroleum, while machinery and refined petroleum products are the major exports. For more information click, Number of products at HS 6 digit level that are affected in a particular year. In each constituency there is a Citizens Consultative Committee, designed to link local communities to the ruling party. U.S. total exports of agricultural products to Singapore totaled $1.1 billion in 2020, our 25th largest agricultural export market. In 2020, Singapore GDP was an estimated $337.5 billion (current market exchange rates); real GDP was down by an estimated 6.0 percent; and the population was 6 million. This applies a conversion factor that averages the exchange rate for a given year and the two preceding years, adjusted for differences in rates of inflation between the country, and through 2000, the G-5 countries (France, Germany, Japan, the United Kingdom, and the United States). It measures the uniform tariff equivalent of the country tariff and non-tariff barriers (NTB) that would generate the same level of import value for the country in a given year. [Online]. Singapore is a major international air transit hub and an important gateway to Asia, particularly Southeast Asia. The emphasis of this ideology has been a rigid public morality focused on personal appearance and cleanliness, political loyalty, and family planning. Close liaison is maintained between the political and administrative arms of government. 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. 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. The police force is responsible for internal security, traffic management, and crime prevention. Exports were $51.6 billion; imports were $42.1 billion. 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: Singapore has built on its favorable geographical position to become one of the world's leading air and sea freight hubs. Singapore has long been widely known as an Entrept or transshipment port, where goods are transshipped and sometimes processed or produced in the immediate area. Total number of products imported by a country at the Harmonized System (HS) six digit level in any given year. 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. Economies are ranked on their ease of doing business, from 1189. The range and quality of medical services is notably high, with a large number of doctors and dentists. Singapore: largest services trade partners by value | Statista 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. According to Singapore globalEDGE - Your source for business knowledge Menu. Cultural activities in Singapore are largely derivative, springing from one or another of the major civilizations of China, India, Indonesia, or the West. a continental perspective, 66% of Singapores total imports by value in 2019 Facebook: quarterly number of MAU (monthly active users) worldwide 2008-2023, Quarterly smartphone market share worldwide by vendor 2009-2023, Number of apps available in leading app stores Q3 2022, Profit from additional features with an Employee Account. The date here reflects the date of access. (Source: IMF). In the late 1980s and early 1990s the government opened a light-rail mass-transit system that links the major population centres in the housing estates with employment centres and the central business district. Singapore has been promoting its strengths as a financial intermediary country. Singapore's Top 10 Trading Partners - Singapore Import Export Data 15 October 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. As a GeBIZ Trading Partner, I can. It is assisted by a Civil Defence Force consisting of reservists and volunteers. Goods exports totaled $26.9 billion; goods imports totaled $30.8 billion. Get quick analyses with our professional research service. mainland China: US$64 billion (12.4% of Singapore's total exports) 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). In 2021, the city-state was the United States' 12th largest export market importing US$35.3 billion worth of goods.
Lake Elsinore Soccer Tournament,
Hibachi Cook In Front Of You Charlotte, Nc,
Hooded Sweater For Kid Boy Nearby Cheap,
Articles S