Country Data

Singapore

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POPULATION

Population - 5,638,680

2016 Singapore population by gender & age

GDP per

Capita

$64,582

Disposable

Income

$47,166

Flight Time

From LA

18 Hours

Flight Time

From NYC

19 Hours

Size

Singapore, an island city-state in Southeast Asia, is home to 5.6 million residents, 39% of whom are foreign nationals, including permanent residents.

 

The Singaporean government estimates more than 4,200 U.S. firms, large and small have established operations in the City State.

 

Investment

In 2017, Singapore maintained its position as the United States’ 13th largest export market and advanced one rung to 18th largest trading partner. U.S. goods exports to Singapore were $29.8 billion, up 11.3 percent ($3.0 billion) in 2016, reflecting the sixth largest goods trade surplus of US$10.4 billion.  Singapore is an important partner of the United States with a bilateral, gold standard, Free Trade Agreement implemented in 2004, the first the US signed in Asia. The U.S. is Singapore’s third largest source of imports behind China and Malaysia.

 

Singapore is a free port as more than 99% of all imports enter Singapore duty-free. For social and/or environmental reasons, it levies high excise taxes on distilled spirits and wine, tobacco products, motor vehicles, and gasoline.

 

Price, quality, and service are the three main factors for Singapore buyers. U.S. exporters should be aware that competition is strong and buyers expect good after-sales service. Selling techniques vary according to the industry and product and are comparable to the techniques used in most other sophisticated markets.

 

MISCELLANEOUS INVESTMENT FACTS

  • The World Bank ranked Singapore the second easiest place to do business in the world

  • Major ICT, distribution, and logistics hub; as such, many consider it the gateway to the ASEAN region

  • Favorable tax codes

  • Strong intellectual property protection

  • English speaking population

 

Treaties & Agreements

The United States has a bilateral free trade agreement with Singapore, which entered into force in 2004. Since that time, bilateral trade has increased 62%, reaching $45 billion in goods trade in 2016. The United States is Singapore's largest foreign investor, with U.S. investment stock totaling $228 billion in 2016. Singapore is a visa waiver program country, which allows its nationals to travel to the United States for certain business or tourism purposes for stays of 90 days or less without obtaining a visa.

 

Singapore and the United States belong to a number of the same international organizations, including the United Nations, Asia-Pacific Economic Cooperation forum, ASEAN Regional Forum, International Monetary Fund, World Bank, and World Trade Organization.

Overview of Opportunities in Singapore

Relevant Industries to Focus On

Actionable Data, Insights & Resources

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SUCCESS SUMMARIES

U.S. Aviation Company Exporting to

Singapore

US Aviation Company Exporting

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US Consumer Goods Company Exporting

U.S. Holistic Healthcare Company Exporting to Singapore

US Holistic Healthcare Company Exporting

U.S. Computer Parts Company Exporting to Singapore

US Computer Parts Company Exporting

U.S. Security and Defense Company Exporting to Singapore

US Security and Defense Company Exporting

EXPERTS

Agriculture

Automotive Icon of Experts for Singapore

Healthcare and Medical Equipment

Healthcare and Medical Equipment Icon of Experts for Singapore

Industrial

Machinery

Industrial Machinery Icon of Experts for Singapore

VIDEOS