Singapore is France’s third-leading trading partner in Asia, and our leading trading partner in Southeast Asia. In 2004, a pick-up in Singaporean and regional demand led to increased exports, which further resulted in the renewed dynamism of our trade activities.
French exports of agricultural and agri-food goods as well as consumer goods account for more than a quarter of our exports to Singapore. Aeronautics construction continues to drive export growth. But the basis for the growth in exports of capital goods has expanded and French companies seem to be taking advantage of the profitable Singaporean investments.
The island is a regional platform for French companies, in particular in the areas of electronics, finance and chemistry. With total investments standing at €3.5 billion, Singapore is the second destination of French investments in Asia, after Japan. The city-state plays host to 400 French company sites (mainly in the electronics and financial services industries) and about 40 companies that have been founded locally. In 2003, 25 of these companies were included among the 1,000 leading companies in Singapore. ST Micro-electronics is the island’s biggest private employer.
Principal French exports :
The seven leading products of exportation are: products related to aeronautics construction (22.1%), electronic components (18.0%), perfumes and grooming products (5.3%), gears and mechanical transmission assemblies (3.9%), distilled alcoholic beverages (3.8%), dispensing and drive equipment (3.5%), and measuring and control instruments (3.0%).
Principal French imports :
The seven leading products of importation are: basic organic chemicals (41.3%), electronic components (24.0%), computers and IT equipment (18.6%), refined petroleum products (2.4%), medico-surgical and orthopaedic equipment (2.4%), measuring and control instruments (1.2%), and basic pharmaceutical products (1.0%).
There are a number of French establishments (companies, branches and representative offices) in Singapore: 397 at the end of 2004 (compared with 378 at the end of 2002).
Direct French investments total (in 2002) : EUR 3,281M (Banque de France), EUR 2,259M (Singapore Department of Statistics).
UBIFRANCE in Singapore