Competitive economy

With its business-friendly environment, high purchasing power, strong demand for sustainable high-tech products, and proximity to neighbouring high-growth markets such as Indonesia and the Philippines, Singapore offers a nearly ideal market for Swedish companies. 

The Singaporean economy is among the most competitive and stable globally, characterised by no foreign debt, high government revenue, and a consistently positive budget surplus. It is primarily driven by exports in electronics and precision engineering, complemented by a vibrant services sector that includes information technology, communications, tourism, and finance. Additionally, Singapore's central location in the global supply chain is enhanced by its world-class container terminal, which handles one-fifth of global trans-shipment trade annually. 

Demographic shifts

However, Singapore is currently facing a demographic shift due to a declining birth rate and an ageing population, which may pose challenges to its economic growth. By 2030, more than 22% of Singapore's population is expected to be over the age of 65, leading to the country being classified as a "super-aging society." To address this challenge, Singapore is focusing on a substantial influx of foreign workers and a continued emphasis on innovation in automation and digitalisation. 

How we can help

At Business Sweden we help Swedish companies looking to invest and expand in this stable and highly dynamic economy. We do this through strategic advice, practical support, market insights and an extensive business network.