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Singapore: Asean now biggest market for Singapore

  • Aug 12, 2016

Singapore: Asean now biggest market for Singapore

Friday, 12 August 2016 – South-east Asia has overtaken the United States to become the largest market for Singapore’s goods and services, according to Ministry of Trade and Industry (MTI) data yesterday.

It noted that the combined demand from the top five economies in Asean outside Singapore – Indonesia, Malaysia, Thailand, the Philippines and Vietnam – accounted for 10.4 per cent of Singapore’s overall gross domestic product (GDP) last year, up from 9 per cent in 2010.

The US accounted for a 10.1 per cent share of GDP, while China accounted for 8.8 per cent. Read More?