SINGAPORE, Feb. 22 (Xinhua) — Singapore’s international trade in services totaled 919.1 billion Singapore dollars (about 689 billion U.S. dollars) in 2023, marking a 4.8 percent increase from the previous year, according to data released by the Singapore Department of Statistics on Friday.
Services exports rose 2.7 percent to 481.0 billion Singapore dollars, with the EU, the United States, Japan, Australia, and ASEAN as the top export markets.
The EU remained Singapore’s largest services export partner, with receipts from the bloc surging 23.4 percent year-on-year to 73.5 billion Singapore dollars.
Meanwhile, services imports grew 7.1 percent to 438.1 billion Singapore dollars in 2023. The United States retained its position as Singapore’s largest source of services imports, with payments reaching 108.0 billion Singapore dollars, an increase of 15.7 percent from 2022. (1 Singapore dollar equals 0.75 U.S. dollars)
