What is the main trade in Singapore?

What are some major exports in Singapore?

The top export categories (2-digit HS) in 2019 were: aircraft ($6.1 billion), machinery ($5.3 billion), electrical machinery ($4.1 billion), optical and medical instruments ($3.1 billion), and mineral fuels ($2.9 billion).

Who does Singapore trade with the most?

Singapore top 5 Export and Import partners

Market Trade (US$ Mil) Partner share(%)
China 51,619 13.22
Hong Kong, China 44,377 11.37
Malaysia 41,152 10.54
United States 34,401 8.81

What products does Singapore export?

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Singapore Exports By Category Value Year
Electrical, electronic equipment $132.41B 2020
Machinery, nuclear reactors, boilers $58.26B 2020
Mineral fuels, oils, distillation products $30.33B 2020
Optical, photo, technical, medical apparatus $20.84B 2020

What are the major imports of Singapore?

$42.1 billion or 11.4% of its overall imports.

  • Machinery: $14.9 billion.
  • Aircraft, spacecraft: $6.3 billion.
  • Electronic equipment: $4.5 billion.
  • Medical, technical equipment: $3.5 billion.
  • Mineral fuels including oil: $3 billion.
  • Plastics: $1.4 billion.
  • Other chemical goods: $1.2 billion.
  • Organic chemicals: $1 billion.

What is Singapore well known for?

Singapore is a wealthy city state in south-east Asia. Once a British colonial trading post, today it is a thriving global financial hub and described as one of Asia’s economic “tigers”. It is also renowned for its conservatism and strict local laws and the country prides itself on its stability and security.

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What products are Singapore known for?

10 Best Things to Buy in Singapore – The Ultimate List of Souvenirs

  1. Miniature Merlion Souvenirs. The Merlion is considered a symbol of Singapore (Source) …
  2. Orchid Perfumes. …
  3. Asian Artefacts. …
  4. Bak-Kwa (BBQ Meat) …
  5. Ya-Kun Kaya Spread (Coconut Jam) …
  6. Singapore Pressed Pennies. …
  7. Tiger Balm Products. …
  8. Laksa Paste.

How does Singapore make money?

The Singapore economy is mainly driven by exports in electronics manufacturing and machinery, financial services, tourism, and the world’s busiest cargo seaport.

How much food is Singapore importing?

Singapore’s Food Supply

With little farming land, Singapore imports over 90% of the food consumed in the country. The food at our local markets mainly comes from overseas.

What does Singapore produce the most?

Singapore derives most of its revenues from foreign trade. The biggest export product, with 43 percent share, is machinery and equipment. The country also exports petroleum (19 percent); chemical products (13 percent); miscellaneous manufactured articles (8 percent) and oil bunkers (7 percent).

What food does Singapore export?

Top exports of processed foods to Singapore in 2020 included:

  • Fats And Oils.
  • Food Preparations & Ingredients.
  • Processed/Prepared Dairy Products.
  • Processed Vegetables & Pulses.
  • Snack Foods.
  • Alcoholic Beverages.
  • Chocolate And Confectionery.

What are the main industries in Singapore?

Economy of Singapore

Statistics
Unemployment 2.6% (2021 est.)
Main industries Electronics chemicals financial services oil-drilling equipment petroleum refining biomedical products scientific instruments telecommunications equipment rubber food and beverages ship repair offshore construction life sciences re-exportation

How many countries does Singapore trade with?

In 2017, Singapore major trading partner countries for exports were China, Hong Kong, China, Malaysia, Indonesia and United States and for imports they were China, Malaysia, United States, Other Asia, nes and Japan.

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