Singapore – Various productivity is the same as high demand in global trade

Singapore – Various productivity is the same as high demand in global trade

Someone will be amazed by how an island country tucked in Southeast Asia holds a lot of influence in global business. However, the same as Manhattan Island symbolizes the prosperity and diversity of American culture, so that the Republic of Singapore reflects the same characteristics on the scale of the world. As the fourth largest financial center on the planet, this region where the land mass is approximately the same as the size of Rhode Island has enjoyed a centuries of wealth and growth.

As one of the most active sea ports in the world, Singapore has observed the open business environment and the capitalist economy since obtaining its independence from United Kingdom almost fifty years ago. Crowded sea transportation in the region and the free market paradigm that is carefully planned has greatly inspired other global export powers that looked above the “Singapore model” with the aim of achieving the same high-level gross domestic product ratio (GDP) and the unemployment rate low. According to the 2009-2010 global competitiveness report by the World Economic Forum, Singapore ranks 3 of the most competitive countries between 133 major economics and appears only after Switzerland (No. 1) and the United States (No. 2), while the score No. 1 Followed by Hong Kong (No. 2) and the United States (No. 3) in the World Competitiveness Scoreboard 2010 by the International Institute for Management Development, Lausanne, Switzerland.

As an exporter, Singapore is related, especially with countries in the Middle East and the southern hemisphere, and the United States. The country, such as other gửi hàng đi singapore Asian tigers, depends on natural resources and raw materials for production, therefore their dependence on trade with countries such as Australia and New Zealand and the United Arab Emirates.

Top industry and Singapore exports

Statistics from the US State Department reported in 2009 that Singapore’s main exports to North America included industrial machinery and electronic components. These products have houses with other countries too, and Singapore is known throughout the world to provide the following in global trade:

Biotechnology: In the past decade, Singapore has gained a footing in the manufacture of pharmaceutical and other health care products. Glaxosmithkline, Pfizer, and Merck is one of the main companies with plants on the island.

Crude oil: Crude oil and petroleum are sent practically every day from Singapore port for refinement. UAE in particular is the main importer of this item.

Shipping and aircraft components: Whenever and wherever you fly, the possibility of spare parts used to build your plane coming from this region. As a top port, the island can be said to have more expertise than other markets related to shipbuilding.

Computers and Technology Circuits: Like a fellow Asian tiger market, the Republic of Iceland enjoys a successful business in the production of computers and accessories. Acer, for one, depends on trading with Singapore for their business.