SINGAPORE - US ECONOMIC RELATIONS
Singapore-US Trade Links
- Trade relations between Singapore and the US have traditionally been strong and close. The US is Singapore’s number one trading partner, while Singapore, in turn, is the 9th largest partner for the US.
- Total trade between the 2 countries in 1997 amounted to S$67.1 billion, which was 17.5% of Singapore’s overall trade.
- Singapore's main imports from the US are electronic components, telecommunications equipment, chemical products and computers. Its leading exports to the US include data processing machines, electronic chips, computer components and chemical compounds.
- Singapore’s excellent business infrastructure and open-door policy towards multi-national corporations (MNCs) has attracted more than 1,300 American companies to set up operations there. About 330 of them have made Singapore their regional business headquarters and have assets of more than US$8.5million each.
- The US is Singapore’s single largest source of foreign direct investments (FDI). Total US investments into Singapore amounted to US$17.5 billion by 1997, a 23% increase over the previous year. US FDI into Singapore accounted for 46.7% of the total US FDI in Southeast Asia.
- The US is Singapore’s 3rd largest recipient of FDI, after Malaysia and Hong Kong. Singapore’s cumulative FDI in the US grew from US$1.2 billion in 1996 to US$2.8 billion by 1997.
- For detailed statistics, go to Singapore’s Economy, Investment and Trade.
- Sharing common goals in free trade and open markets, Singapore and the US work closely in APEC, the WTO and other international settings.
- On the bilateral front, the 2 countries foster closer links through the Trade and Investment Framework Agreement signed in 1991, and the Singapore-US Business Council (SUBC), formed in 1995. Singapore has also signed Memoranda of Understanding (MOU) separately with the Trade and Commerce Agency of California, and the city of Boston. These specify business alliance and co-operation in trade and investment, technology development, education and tourism.
- In addition, several US States and Ports each have a trade representative office in Singapore.
Promoting Trade – Trade Development Board’s presence in the US
- Through its offices in Washington DC and New York, the Trade Development Board works closely with the US government and private sector to maintain and harness bilateral trade relations.
- In Washington DC, the TDB office is situated within the Singapore Embassy and is staffed by a Regional Director and a Centre Director. These officers keep abreast of US trade policy and legislative developments that may impact on Singapore’s trade interests. In New York, the TDB office facilitates business development opportunities for Singapore companies, as well as promotes Singapore as a gateway for Asia to US companies. It has a Centre Director and Marketing Officer.
- For more information on TDB offices worldwide.
- For more information on the activities of the TDB.
- Trade Development Board
- Economic Development Board
- Registry of Companies & Businesses
- Singapore Yellow Pages
- Ministry of Trade & Industry
- Productivity & Standards Board
- ECICS
Questions on Trading with Singapore?
Trade Development Board Business Library,
230 Victoria Street, Bugis Junction Office Tower,
#07-00, Singapore 188024.
Telejphone : 433 4449/50,
Fax : 337 5253/56
E-mail : tdblibrary@tdb.gov.sg
The US Administration and Trade Agencies
- White House
- US Department of Commerce
- US Department of State
- United States Trade Representative
- US International Trade Commission
- US Customs Service
- US Federal Trade Commission
- US International Trade Administration
US Congress
Useful Sites to Obtain US Trade Statistics (And it’s FREE!!!)
Access to Law Libraries
Regional Groupings