What are the major trading partners of Singapore in 2018?

Which country is Singapore’s biggest trading partner?

Top 10 Singapore’s major trading partners

  • China: US$51.5 billion (13.8%)
  • Hong Kong: $46.2 billion (12.4%)
  • United States: $40.2 billion (10.7%)
  • Malaysia: $33.3 billion (8.9%)
  • Indonesia: $21.5 billion (5.7%)
  • Taiwan: $18.3 billion (4.9%)
  • Japan: $17.9 billion (4.8%)
  • South Korea: $16.8 billion (4.5%)

What is the main trade of Singapore?

Economy of Singapore

Statistics
Export goods Machinery and equipment Electronics and telecommunications Pharmaceuticals and other chemicals Refined petroleum products Chemical products
Main export partners Hong Kong 13.67% China 11.21% Malaysia 9.43% United States 8.45% Indonesia 7.72% (2018)
Imports US$533 billion (2019)

Who were the main trading partners?

U.S. trade with other nations is worth $4.9 trillion per year. China, Canada and Mexico are the country’s largest trading partners, accounting for nearly $1.9 trillion worth of imports and exports.

What does Singapore export to USA?

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). U.S. total exports of agricultural products to Singapore totaled $991 million in 2019.

Who are the biggest trading partners in the world?

The United States is the world’s largest trading nation, with over $5.6 trillion in exports and imports of goods and services in 2019.

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Why is Singapore an important trade city?

Singapore continues to perform its traditional function as a financial intermediary, shipping raw materials such as rubber, timber, and spices from the Southeast Asian region in exchange for finished goods from both within and, especially, outside the region.

Is Singapore good for international trade?

According to World Bank’s Doing Business 2019 report, Singapore has been consistently recognized as the world’s best place to do business in the World Bank’s annual survey of 189 economies around the world.

What is Singapore good at producing?

Key industry clusters in Singapore’s manufacturing include electronics, chemicals, biomedical sciences, logistics and transport engineering. In the third quarter of 2017, the manufacturing sector grew by 35%, with clusters like electronics and precision engineering benefiting from high demand.