Your question: What import does Singapore need?

What imports does Singapore rely on?

Singapore’s Top Commodity Imports

Commodity Amount (Annually)
Precious Stones & Metals $20.3 billion
Iron & Steel $2.9 billion
Aluminum $1.2 billion
Copper $973 million

What are Singapore’s top imports?

Top 10

  • 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%)

Does Singapore rely heavily on imports?

The Singaporean economy depends heavily on exports and refining imported goods, especially in manufacturing. Singapore’s imports include machinery and equipment, mineral fuels, chemicals, foodstuffs and consumer goods.

What goods do we export to Singapore?

Top 10

  • Electrical machinery, equipment: US$132.2 billion (35.3% of total exports)
  • Machinery including computers: $58.2 billion (15.5%)
  • Mineral fuels including oil: $30.3 billion (8.1%)
  • Optical, technical, medical apparatus: $20.8 billion (5.6%)
  • Gems, precious metals: $20.3 billion (5.4%)

How much Singapore spend on imports?

Singapore: Trade

Reference Previous
Current Account Balance 2021 Q3 26,785
Exports of Goods 2021 Q3 163,259
Exports of Goods and Services 2021 Q3 230,597
Imports of Goods 2021 Q3 125,960
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What products are made in Singapore?

20 Made-in-Singapore Brands – How Many Do You Recognise?

  • RISIS Orchids. Real flowers, forever preserved in gold. …
  • Perfumes of Singapore. Singapore’s very own perfumery. …
  • Rollei Cameras. …
  • Axe Brand Universal Oils. …
  • Three Legs Cooling Water. …
  • Khong Guan Biscuits. …
  • Tiger Balm. …
  • Tiger Beer.

Does Singapore import or export more?

Singapore Service Trade data from WDI 2019

Singapore, Imports of goods and services as percentage of GDP is 147.63 %. Singapore, Exports of goods and services as percentage of GDP is 175.89 %.

What is Singapore famous for producing?

The Singapore economy is mainly driven by exports in electronics manufacturing and machinery, financial services, tourism, and the world’s busiest cargo seaport.

Which country does Singapore import the most from?

Top 10 Import Countries

Country Import USD$
United States $43,939,381,117
Malaysia $41,689,717,888
Japan $19,371,888,982
Indonesia $15,607,958,281

Does Singapore import food?

Singapore’s Food Supply

With little farming land, Singapore imports over 90% of the food consumed in the country. The food at our local markets mainly comes from overseas.

How important is trade to Singapore?

Trade agreements have an important role in Singapore’s economic growth and have allowed Singapore to position itself as a centre where companies can co-ordinate their regional and global activities.

Where do Singapore import their food from?

In 2019, the top partner countries from which Singapore Imports Food Products include France, Malaysia, China, United Kingdom and Indonesia.

What machinery does Singapore export?

Exports of commodity group 85 “Electrical machinery and equipment and parts thereof; sound recorders and reproducers, television image and sound recorders and reproducers, and parts and accessories of such articles” amounted to 35% of total exports from Singapore (cumulative merchandise exports from Singapore totalled …

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What does the US buy from Singapore?

The top import categories (2-digit HS) in 2020 were: precious metal and stone (gold) ($5.6 billion), pharmaceuticals ($4.3 billion), machinery ($3.9 billion), optical and medical instruments ($3.6 billion), and miscellaneous food (preperations for beverage manufacture) ($3.2 billion).