Major imports are machinery and transport equipment and crude petroleum, while machinery and refined petroleum products are the major exports. China, the United States, Indonesia, Malaysia, and Japan are Singapore’s principal trading partners.
What countries trade with Singapore?
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.
Who does Singapore trade most with?
Singapore top 5 Export and Import partners
|Market||Trade (US$ Mil)||Partner share(%)|
|Hong Kong, China||44,377||11.37|
What does Singapore export to other countries?
Economy of Singapore
|Export goods||Machinery and equipment Electronics and telecommunications Pharmaceuticals and other chemicals Refined petroleum products Chemical products|
|Main export partners||Hong Kong 13.8% Mainland China 11.35% European Union 9.78% Malaysia 9.29% United States 8.6% (2018)|
What 5 countries do we import the most from?
The top five suppliers of U.S. goods imports in 2019 were: China ($452 billion), Mexico ($358 billion), Canada ($319 billion), Japan ($144 billion), and Germany ($128 billion). U.S. goods imports from the European Union 27 were $515 billion. The United States is the largest services exporter in the world.
What is Singapore’s biggest import?
- Electrical machinery, equipment: US$108.9 billion (33.1% of total imports)
- Machinery including computers: $52.9 billion (16.1%)
- Mineral fuels including oil: $49.2 billion (15%)
- Gems, precious metals: $22.6 billion (6.9%)
- Optical, technical, medical apparatus: $12.8 billion (3.9%)
Why is Singapore so rich?
Singapore’s rise to the top was attributed to its advanced technological infrastructure, availability of skilled labor, favorable immigration laws, and the efficient way in which new businesses can be set up here.
Is Singapore a free trade country?
Singapore’s extensive free trade agreements (FTA), coupled with a transparent legal system and educated workforce, have been credited with accelerating the country’s transformation to a first-world economy.
What is Taiwan’s biggest export?
- Electrical machinery, equipment: US$174.6 billion (50.3% of total exports)
- Machinery including computers: $44.8 billion (12.9%)
- Plastics, plastic articles: $18.6 billion (5.4%)
- Optical, technical, medical apparatus: $16.8 billion (4.8%)
- Vehicles: $10.1 billion (2.9%)
- Iron, steel: $7.5 billion (2.2%)
Is Singapore a first world country?
This definition includes Australia & New Zealand, the developed countries of Asia (South Korea, Japan, Singapore, and Taiwan), and the wealthy countries of North America and Europe, particularly Western Europe.