Largest Product Imported to Singapore – Integrated Circuits
Singapore is the world’s fourth highest importer. Singapore imported $76 billion in integrated circuits.
- Integrated circuits were the most imported product in Singapore. Singapore mainly imports integrated circuits from Chinese Taipei ($29.8 billion), Malaysia ($17.8 billion), South Korea ($7.89 billion), China ($6.58 billion), and the Philippines ($5.22 billion).
- Singapore’s fastest rising import markets in Integrated Circuits were Malaysia ($3.08 billion), Chinese Taipei ($2.6 billion), and South Korea ($2.51 billion).
- Singapore has developed itself as an important semiconductor manufacturing hub, with top businesses like as Micron, GlobalFoundries, and Infineon working within its boundaries. These companies rely largely on imported ICs as raw materials in their manufacturing processes.
- Singapore’s strong ecosystem of research institutions and trained labor adds to its appeal as a semiconductor manufacturing destination.
- Importing integrated circuits benefits the local electronics industry.
Singapore Imported Top 10 Products in 2024
The top 10 products imported to Singapore in 2024 are integrated circuits, refined petroleum, crude petroleum, gold, machinery with individual functions, broadcasting equipment, petroleum gas, diamonds, jewelry, and raw aluminum. It imports primarily from China, Malaysia, the United States, Chinese Taipei, and South Korea. In 2022, Singapore was the world’s leading importer of Other Glass Articles and Nickel Products.
In January 2024, the increase in Singapore’s compared to the previous imports was primarily due to an increase in imports from Chinese Taipei (SGD1.38B or 32.3%), South Korea (SGD1.17B or 40%), and Switzerland (SGD853M or 127%), as well as product imports of Electrical Machinery Apparatus & Appliances Nes… (SGD1.1B or 9.69%), Manufactures Of Metals Nes (SGD372M or 73.1%), and Office Machines & Automatic Data-Processing Machines (SGD315M or 18.7%).