Singapore Country Commercial Guide
Learn about the market conditions, opportunities, regulations, and business conditions in singapore, prepared by at U.S. Embassies worldwide by Commerce Department, State Department and other U.S. agencies’ professionals
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Market Overview
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U.S. businesses looking to boost their bottom line by making new export sales are increasingly looking to Singapore as a place to do business. A gateway to Southeast Asia with a business-friendly environment, Singapore offers excellent opportunities for U.S. firms, including small and medium-sized companies.

As the United States’ largest trading partner in Southeast Asia, Singapore has a proven track record as a welcoming center for business. The United States is the leading source of foreign direct investment (FDI) for Singapore, with the United States investing US$424.2 billion in FDI stock in the island nation in 2023. Singapore is also a leading investor in the United States, with Singapore FDI stock in the United States valuing over US$58 billion in 2023.

Singapore is an important partner of the United States and was the first country in Asia to sign a bilateral Free Trade Agreement with the United States, which has been in effect since 2004. In 2023, the city-state was the United States’ 10th largest export market, importing US$79.8 billion worth of goods and services.

Singapore has the highest GDP per capita in Asia (US$84,734 as of 2023). A small city-state roughly the physical size of New York City, Singapore was ranked as the fourth wealthiest city in the world in 2024. Exporters will find proven market opportunities for a wide range of products and services, including in the best prospect sectors of aerospace and defense, energy, healthcare, information and communications technology, and critical and emerging technologies. Electronics continues to be the country’s most important manufacturing sector, followed by chemicals and biomedical sciences. The manufacturing and services sectors remain the two main pillars of Singapore’s high-value-added economy. Singapore is the leading business and financial services hub in Southeast Asia and was once again ranked as the world’s second largest shipping port in 2023.

In 2024, Singapore’s real GDP grew by around 3.5%, and economists predict Singapore’s economic growth in 2025 will be between 0.0 to 2.0% due to the global economic slowdown and inflationary pressures. Historically, attracting multinational investments has been a priority for Singapore, with the Singaporean parliament introducing a new tax credit and setting aside US$1.49 billion towards attracting such investments in the 2024 budget. The aim is to expand and secure investments in growth sectors such as banking and finance, global trading, and key manufacturing sectors. Additionally, this fund seeks to help local businesses transform and innovate, improve productivity, and equip workers with skills for the future economy.

U.S. companies should consider exporting to Singapore for the following reasons:

  • Singapore is the gateway to Southeast Asia
  • Major distribution, logistics, and financial hub
  • Transparency and lack of corruption
  • Business-friendly laws and regulations
  • Strong intellectual property protection
  • English speaking population

Political Environment

Visit the State Department’s website for background on the country’s political and economic environment.