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 Singapore
 Trans-Pacific Partnership

Singapore is a Key U.S. Export Market

  • Singapore's economy is valued at $292.7 billion*
  • $28.5 billion in goods and $14.4 billion in services in 2015 were exported from the United States to Singapore
  • 22,440 U.S. companies exported goods to Singapore in 2014 – 90.3% were small and medium-sized companies
  • 120,926 U.S. jobs supported by goods exports to Singapore and 91,657 jobs supported by services exports to Singapore in 2015

Singapore is an Important TPP Partner for
U.S. Exports of Industrial and Consumer Goods

Chemicals


$3.4 Billion
In Exports
To Singapore


The Chemical Sector includes products such as cosmetics, paints, rubber products, plastics, fertilizers, and organic/inorganic chemicals

Information and Communication Technologies

$2.9 Billion
In Exports
To Singapore


ICT Goods include products covered by the World Trade Organization’s Information Technology Agreement (ITA), including products covered by both the original ITA and the subsequent expansion negotiations, as well as other products such as optical fibers, audio-video equipment, television reception apparatus, coaxial cable, and batteries

Machinery


$2.4 Billion
In Exports
To Singapore


The Machinery Sector includes products such as forklifts, motors, bulldozers, pumps, water filtration and purification machinery

Health
Products

$1.6 Billion
In Exports
To Singapore


The Health Products Sector includes
products such as pharmaceuticals, medical supplies, and medical devices

High-Tech
Instruments


$1.3 Billion
In Exports
To Singapore


The High-Tech Instruments Sector includes products such as environmental monitoring equipment, equipment for testing and analyzing materials, meters and other precision measuring equipment, electrical gauges, lenses and prisms, and other optical instruments



TPP Works for America

2,991,102:

Jobs Supported by Goods Exported to TPP countries in 2015
$679.6 Billion:

2015 Total
U.S. Goods
Exported to
TPP Countries
174,331:

U.S. Companies
Exported Goods to
TPP Countries in 2014
97%:

SME share of U.S. Goods-Exporting
Companies to TPP Countries in 2014
30%:

SME share of U.S. Goods Exports to TPP Countries in 2014

Market Opportunity Spotlights

Aerospace:

The growing middle class in Asia has increased the market for air travel in Asia Pacific countries, creating opportunities across the region for aerospace manufacturers. Leading civil aircraft manufacturers project that more than a third of worldwide aircraft deliveries will go to Asia in the next two decades. Singapore is particularly well-equipped to capture the demand for aviation-related services from this market. Backed by a large pool of more than 100 aerospace companies, Singapore has garnered a quarter of the Asian Maintenance, Repair and Overhaul (MRO) market. Leading aerospace companies carry out comprehensive nose-to-tail MRO services from airframe to engine overhaul to aircraft modifications and conversion, all of which increase demand for U.S. aerospace components. TPP’s strong protections for patents, trademarks, copyrights, and trade secrets, including safeguards against cyber theft of trade secrets, will drive further development of Singapore’s MRO sector and subsequent demand for more U.S. components.

Medical Devices:

U.S. exports of medical devices to Singapore totaled $914 Million in 2014 and are consistently one of the largest U.S. export categories to Singapore each year. TPP’s Technical Barriers to Trade chapter contains medical device specific provisions and implements new transparency and procedural fairness disciplines. The TPP will require governments to adhere to important regulatory principles for medical devices and follow reasonable timelines for review. These provisions, among others, will enhance market access in Singapore for U.S. medical device and diagnostics manufacturers.

* 2015 Nominal GDP
** TPP Countries: Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru,
Singapore, the United States, and Vietnam
*** New TPP Countries: Countries with which the United States currently does not have preferential
market access - Brunei, Japan, Malaysia, New Zealand, and Vietnam

 


 

 

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