EU-Singapore Trade and Investment Booklet 2024
The 2024 edition of the EU-Singapore Trade and Investment Booklet offers an overview of the strong economic relations between the EU and Singapore with latest annual statistics on trade in goods, trade in services and Foreign Direct Investment. It also provides information on the recently concluded EU-Singapore Digital Trade Agreement and other EU-Singapore agreements, as well as useful trade tools.
In 2023, EU-Singapore trade in goods reached €52.6 billion, a slight increase by 0.3% on a year-on-year basis. EU exports to Singapore amounted to €32.1 billion, while imports from Singapore totalled €20.4 billion. Singapore ranked globally as the EU’s 20th largest merchandise trade partner in 2023.
EU-Singapore trade in services amounted to a record €77.6 billion in 2022, ranking Singapore as the EU’s fifth largest partner for trade in services. With trade in goods and services combined, total EU-Singapore trade reached €130 billion in 2022, ranking Singapore as the EU’s largest trade partner in ASEAN and 11th largest trade partner in the world.
With regards to Foreign Direct Investment, Singapore remains an important destination for EU investment. At the end of 2022, EU FDI stocks held in Singapore reached €293 billion, an increase by 6.9% in comparison to 2021. Singapore ranked globally as the EU’s sixth largest destination for FDI stocks and the largest investment destination in ASEAN. Conversely, FDI stocks held by Singapore in the EU amounted to €206 billion in 2022, an increase by 14% compared to 2021.
