EU tops Singapore's services export markets in 2023

Export receipts rose 21.6% year-on-year to $72.4b.

Singapore's top services export markets in 2023 were the European Union (EU), the United States (US), Japan, Australia, and ASEAN.

The EU remained Singapore's largest export partner for services, with export receipts rising 21.6% year-on-year to $72.4b, preliminary estimates from the Department of Statistics showed.

The EU’s main services exported were business management, financial, and transport.

The US was Singapore's leading import partner for services, with payments to the US reaching $105.1b, an increase of 13.3% from 2022.

Singapore’s International Trade in Services tracks cross-border transactions in areas such as advertising, business consultancy, financial, legal, and logistics services.

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Department of Statistics

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