Singapore's non oil exports fell by 20% in August
Singapore is a developed nation. Singapore is the 35th biggest economy in the world and is the 19th leading exporter globally. Over the years, Singapore's exports have shown rapid rise. As per the Singapore import export data reports, the exports were $662 billion in 2019 while it goes up to $870 billion in 2022. As compared to the $782 billion worth exports in 2021, there was an increase of 11% in Singapore's overall exports. But in the latest financial year, there is a drop of 13% in Singapore’s non-oil exports. Singapore’s important trading partners for exports are China, Hong Kong, United States, Indonesia and Malaysia. China and Hong Kong account for over 16% and 15% share in Singapore’s exports. Singapore's top export items are integrated circuits, refined petroleum, gold, medicaments, heavy machinery, photo lab equipment, office parts, gas turbines, etc. Singapore customs data shows integrated circuits cover over 16% share of the country’s overall exports. Hong K...