Top Export Trading Partners of Singapore - Volza

Singapore's primary export trading partners in 2023 are key to its robust economy. The top partners included China (14% of exports, $62 billion), Hong Kong (12%, $53 billion), Malaysia (10%, $44 billion), United States (9%, $40 billion), and Indonesia (7%, $31 billion).

Key exports to these countries include electronics, machinery, refined petroleum products, chemicals, and biomedical products. Trade agreements such as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and various bilateral agreements facilitate smoother trade flows.

Singapore's strategic incentives and government support promote a robust trade relationship, making it a crucial export market for these partners. The country's focus on advanced manufacturing and its strategic location as a global trade hub significantly influence its export dynamics. Singapore's GDP growth rate stands at 3.5%, with an inflation rate of 1.8%, reflecting its strong economic performance.