International Trade in Singapore

International Trade in Singapore

Singapore's economy was particularly affected by the international financial crisis, because of its very extreme financialization, and its large degree of openness, and thus its dependence on international trade. While GDP growth was above 7.5% from 2004 to 2007, it dropped sharply in 2009... Read more

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Market Analyses About Singapore (273)

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    Pixel Automation is a Singapore based company engaged in Designing and Building Industrial Automation Systems. The company is owned by...

Overview About International Trade in Singapore

Main Industry Sectors

Singapore's economy is highly industrialized. The biggest sector is the manufacturing sector, followed by the wholesale and retail sector, business services, transport and communication and financial services. The electronics and petrochemical industries are dominant. The services sector contributes almost three quarters of the GDP and employs three quarters of the active population. The industrial sector represents a quarter of the GDP. The primary sector is almost nonexistent (except for the cultivation of orchids, vegetables and fish for aquariums). Singapore does not have any mineral resources.

Singapore is a regional trading hub. The Port of Singapore is amongst the world's biggest and is the second traffic center for container transshipment, behind Hong Kong.

 

Economic Overview

Singapore's economy was particularly affected by the international financial crisis, because of its very extreme financialization, and its large degree of openness, and thus its dependence on international trade. While GDP growth was above 7.5% from 2004 to 2007, it dropped sharply in 2009 (-1.3%). However, boosted by the regional economic recovery which fuelled a sharp increase in

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