Singapore
On this page you will find beneficial information regarding foreign direct investment in / trading with Singapore. If you are interested in exploring trade or investment possibilities in the country, feel free to contact the International Trade Council team. Additionally, we encourage you to engage with the official government investment agency featured on this page.
It is important to note that while the statistics presented on this page were understood to be accurate at the time of publication, they are subject to change over time. Please consult your ITC Trade Commissioner for up-to-date information.
Type of Government: Parliamentary Republic
Population: 5.454 million (2021)
GDP: 397 billion USD (2021)
Corporate Tax Rate: 17%
Personal Income Tax Rate: 22%
Major Exports: Footwear Parts ($272M), Leather Footwear ($254M), Electricity ($204M), Crude Petroleum ($204M), and Ferroalloys ($157M), exporting mostly to Italy ($1.42B), Greece ($441M), Spain ($211M), Germany ($174M), and China ($149M).
Major Imports: Integrated Circuits ($65.2B), Refined Petroleum ($50B), Crude Petroleum ($22.5B), Gold ($15.1B), and Gas Turbines ($7.43B), importing mostly from China ($53.9B), Malaysia ($49.6B), Chinese Taipei ($34.1B), United States ($32.5B), and Japan ($18.2B).
Investment Agency: Singapore Economic Development Board
Website: https://www.edb.gov.sg/
National Chamber of Commerce: Singapore Business Federation
Website: https://www.sbf.org.sg/
Customs Agency: Singapore Customs
Website: https://www.customs.gov.sg/
