Singapore Trade Trends 2022
According to the latest data released by the Department of Statistics of Singapore, the country’s total trade reached SGD 1,4 trillion in 2022, up 17.7 per cent compared with last year, resulting in a surplus of SGD 205.4 billion.
In 2022, exports expanded by 15.6 per cent to SGD 710 billion, while imports grew by 20.1 per cent to SGD 690 billion.
Singapore's major trading partners in 2022 were the United States, Japan, and China.
The Association of Southeast Asian Nations (ASEAN) is a political and economic union of ten members, has 667 million people and a territory of 4.5 million Km2; is currently the third largest economy in Asia-Pacific and the fifth largest in the World. The ASEAN Economic Community (AEC) has a combined GDP of USD 3.6 trillion, according to estimates for 2022.