What is the relationship between US and Singapore?
Singapore is the United States’ largest trading partner in Southeast Asia, and 18th largest trading partner overall. The FTA between the United States and Singapore supports approximately 215,000 American jobs, and our bilateral goods and services trade surpassed $93 billion in 2020.
What is the current trade relationship between China and the United States?
China is currently the United States’ 3rd largest goods trading partner with $558.1 billion in total (two-way) goods trade during 2019. Goods exports totaled $106.4 billion; goods imports totaled $451.7 billion. The U.S. goods trade deficit with China was $345.2 billion in 2019.
What does the US trade with Singapore?
U.S. exports to Singapore account for 2% of overall U.S. exports in 2019. The top export categories (2-digit HS) in 2019 were: aircraft ($6.1 billion), machinery ($5.3 billion), electrical machinery ($4.1 billion), optical and medical instruments ($3.1 billion), and mineral fuels ($2.9 billion).
Who is Singapore largest trading partner?
Singapore top 5 Export and Import partners
| Market | Trade (US$ Mil) | Partner share(%) |
|---|---|---|
| China | 51,619 | 13.22 |
| Hong Kong, China | 44,377 | 11.37 |
| Malaysia | 41,152 | 10.54 |
| United States | 34,401 | 8.81 |
Who are Singapore’s allies?
Singapore enjoys good relations with the United Kingdom which shares ties in the Five Power Defence Arrangements (FPDA) along with Malaysia, Australia and New Zealand. Good relations are also maintained with the United States.
What does the US depend on China for?
The U.S. depends heavily on China for providing the low-cost goods that enable income-constrained American consumers to make ends meet. The U.S. also depends on China to support its own exports; next to Mexico and Canada, China is America’s third largest and by far its most rapidly growing major export market.
Who is Singapore biggest trading partner?
What does Singapore trade with China?
China’s exports to Singapore were textiles, clothing, agriculture produce, petrochemical, metals, electromechanical equipment, feed, coking coal, shipping, machinery supplier, communication equipment and electronic components.
How much does the US trade with Singapore?
U.S. goods and services trade with Singapore totaled an estimated $90.0 billion in 2018. Exports were $54.1 billion; imports were $35.9 billion. The U.S. goods and services trade surplus with Singapore was $18.2 billion in 2018.
When did the United States and Singapore sign a free trade agreement?
The United States-Singapore Free Trade Agreement (FTA) has served as the basis of our bilateral trade relationship since the agreement entered in force on January 1, 2004. (See U.S.-Singapore FTA page). The agreement has functioned generally smoothly, with trade and investment growing significantly in both directions.
What are some examples of relations between China and Singapore?
Relations between the two countries gradually improved as China and Singapore forged agreements in free trade, education, foreign investment, modern armament and technology. Examples are the Suzhou Industrial Park and the Sino-Singapore Tianjin Eco-city, which were constructed with the help of Singapore.
Who is the 9th largest trading partner of Singapore?
Singapore is China’s 9th largest trading partner. While China is Singapore’s 3rd largest trading partner which consisted of 10.1 percent of Singapore’s total external trade from the previous year.
