Imports/Exports in Singapore

Overview by Globlatrade.net:

A real warehouse and crossroads of international trade, Singapore is highly dependent on external trade, which represents more than 400% of the GDP (2007-2009). The strategy adopted by the country is to promote export while being careful to minimize barriers to imports. Singapore signed the Asian Free Trade Area agreements (AFTA in the ASEAN context) and several bilateral agreements.
Singapore imports machinery and equipment, mineral fuels, chemical products, food commodities and consumption goods from Malaysia, United States, China, Japan, South Korea, Indonesia and Saudi Arabia. The country exports machinery and equipment (electronic), consumption goods, pharmaceutical products and mineral fuels to Malaysia, Indonesia, Hong Kong, China, the United States, Japan and Australia.
Singapore shows a high trade surplus, a trend which should continue in the coming years.

 
Foreign Trade Indicators 20062007200820092010
Imports of Goods (million USD) 238,710263,155319,780245,785310,791
Exports of Goods (million USD) 271,807299,308338,176269,833351,867
Imports of Services (million USD) 64,93874,40587,20279,11796,067
Exports of Services (million USD) 66,07884,82499,00293,245111,736
Imports of Goods and Services (in % of GDP) 204.5187.5202.6--
Exports of Goods and Services (in % of GDP) 233.5217.4220.5--
Trade Balance (million USD) 42,59145,96326,61530,231-
Trade Balance (Including Service) (million USD) 42,09352,78434,906--
Foreign Trade (in % of GDP) 438.1404.9423.1--

Source: WTO - World Trade Organization ; World Bank

 

Main Partner Countries

Main Customers
(% of Exports)
2009
Hong Kong 11.6%
Malaysia 11.5%
China 9.7%
Indonesia 9.7%
United States 6.6%
Other partnersClose extended list 51.0%
Main Suppliers
(% of Imports)
2009
United States 11.9%
Malaysia 11.6%
China 10.5%
Japan 7.6%
Indonesia 5.8%
Other partnersClose extended list 52.5%

Source: Comtrade

 

Main Products

Main Exports
(% of Exports)
2009
Electronic integrated circuits and microassembliesElectronic integrated circuits and microassemblies 20.4%
Petroleum oils and oils obtained from bituminous...Petroleum oils and oils obtained from bituminous minerals (excl. crude); preparations containing >= 70% by weight of petroleum oils or of oils obtained from bituminous minerals, these oils being the basic constituents of the preparations, n.e.s.; waste oils containing mainly petroleum or bituminous minerals 14.8%
Parts and accessories (other than covers, carrying...Parts and accessories (other than covers, carrying cases and the like) suitable for use solely or principally with machines of heading 8469 to 8472, n.e.s. 3.3%
Printing machinery used for printing by means of...Printing machinery used for printing by means of the printing type, blocks, plates, cylinders and other printing components of heading 8442 and ink-jet printing machines (excl. hectograph or stencil duplicating machines, addressing machines and other office printing machines of heading 8469 to 8472); machines for uses ancillary to printing, for the feeding, carriage or further processing of sheets or webs of paper; parts thereof 3.0%
Automatic data processing machines and units...Automatic data processing machines and units thereof; magnetic or optical readers, machines for transcribing data onto data media in coded form and machines for processing such data, n.e.s. 2.9%
Other productsClose extended list 55.6%
Main Imports
(% of Imports)
2009
Petroleum oils and oils obtained from bituminous...Petroleum oils and oils obtained from bituminous minerals (excl. crude); preparations containing >= 70% by weight of petroleum oils or of oils obtained from bituminous minerals, these oils being the basic constituents of the preparations, n.e.s.; waste oils containing mainly petroleum or bituminous minerals 15.7%
Electronic integrated circuits and microassembliesElectronic integrated circuits and microassemblies 15.5%
Petroleum oils and oils obtained from bituminous...Petroleum oils and oils obtained from bituminous minerals, crude 8.2%
Parts and accessories (other than covers, carrying...Parts and accessories (other than covers, carrying cases and the like) suitable for use solely or principally with machines of heading 8469 to 8472, n.e.s. 2.8%
Parts suitable for use solely or principally with...Parts suitable for use solely or principally with the machinery of heading 8425 to 8430, n.e.s. 2.1%
Other productsClose extended list 55.8%

Source: Comtrade

 

Exchange Rate System

Exchange Rate Regime
Managed floating with no pre-determined path for the exchange rate. 
Level of Currency Instability
Low
 
 
Monetary Indicators 20052006200720082009
Singapore Dollar (SGD) - Average Annual Exchange Rate For 1 USD 1.661.591.511.411.45

Source: World Bank

 
 

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