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Singapore shipped 374.2 billion dollars worth of goods around the globe in 2020. That dollar amount reflects a 13.4 percent increase since 2016 but a minus 4.1 percent decline from 2019 to 2020. Singapore's weaker local currency since 2019 makes its exports paid for in stronger US dollars relatively less expensive for international buyers. Singapore's total 374.2 billion dollars in 2020 exports translates to a formidable 64,900 dollars for every resident in the export dependent nation. Oceania led by Australia, Marshall Islands, and New Zealand got 3.9 percent, Latin America excluding Mexico but including the Caribbean got 1.7 percent then Africa 1.3 percent.

Singapore imported 329.1 billion dollars worth of goods from around the globe in 2020, up 16.3 percent since 2016. Singapore's weaker local currency since 2019 makes imports paid for in stronger US dollars relatively less expensive than in 2019 when converted starting from Singapore dollars. Singapore's top 10 imports represent more than four fifths or 83.8 percent of the overall value of its product purchases from other countries. The only other import categories to increase were electrical machinery and equipment via its 10.9 percent uptick and optical, technical, and medical apparatus up 3. percent.

Singapore exported 374.2 billion dollars worth of goods around the globe in 2020. That dollar amount reflects a 13.4 percent increase since 2016 but a minus 4.1 percent decline from 2019 to 2020. 71 percent of Singapore exports by value were delivered to Asian countries. Japan is the top importer of Singapore with 17.9 billion dollars representing 4.8 percent. The Netherlands was in the first place with 10.2 billion dollars representing 2.7 percent. Leading the decliners were importers in Australia down by minus 24.2 percent.

SOURCE: https://bigmanbusiness.com/674/singap...





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