International Trade Theories: Case of Singapore
Introduction
The report below is going to be based on the success story of a country named Singapore. Careful analysis of Singapore’s external trade operations is presented. The Economy of Singapore is a highly developed and successful capitalist mixed economy. Unlike it’s close Asian neighbors Singapore is perceived as developed country and has one of the highest standards of living in the world. According to country profile presented on International Monetary Fund, the countries economy success is highly due to it’s proper policy toward external trade. Thus, this country has been perceived as subject of interest for us to analyse in the given report devoted to countries external trade operations.
Section A
In the given part the composition of countries major traded products are presented. Moving straight down to a point the import composition of major products is presented in Table 1.
Singapore imports 2006 Imports in $ value Imports as a share of total imports (in percentage terms)
All industries 238,704,171
100
Electrical and electronic equipment 81,417,446
34
Mineral fuels, oils, distillation products
44,914,841
18.8
Boilers, machinery,nuclear reactors 38,904,227
16
Optical, photo, medical apparatus 7,391,926 3
Table 1
As it can be seen from the Table 1 the major products to be imported are electrical and electronic equipment. It comprises 34% of all the imported products. This industry is followed by mineral fuels, oils, distillation products, etc.
Next let’s take a look at the results for exports
Singapre exports 2006 Export in $ value Exports as share of total exports
All industries 271,800,896
100
Electrical and electronic equipment 105,015,978
38.6
Boilers, machinery,nuclear reactors 48,714,488
17.9
Mineral fuels, oils, distillation
35,661,068
13.1
Organic chemicals 13,879,726
5.1
Table 2
Here again we have electrical and electronic equipment being leading. Moreover, boilers, machinery, nuclear
The report below is going to be based on the success story of a country named Singapore. Careful analysis of Singapore’s external trade operations is presented. The Economy of Singapore is a highly developed and successful capitalist mixed economy. Unlike it’s close Asian neighbors Singapore is perceived as developed country and has one of the highest standards of living in the world. According to country profile presented on International Monetary Fund, the countries economy success is highly due to it’s proper policy toward external trade. Thus, this country has been perceived as subject of interest for us to analyse in the given report devoted to countries external trade operations.
Section A
In the given part the composition of countries major traded products are presented. Moving straight down to a point the import composition of major products is presented in Table 1.
Singapore imports 2006 Imports in $ value Imports as a share of total imports (in percentage terms)
All industries 238,704,171
100
Electrical and electronic equipment 81,417,446
34
Mineral fuels, oils, distillation products
44,914,841
18.8
Boilers, machinery,nuclear reactors 38,904,227
16
Optical, photo, medical apparatus 7,391,926 3
Table 1
As it can be seen from the Table 1 the major products to be imported are electrical and electronic equipment. It comprises 34% of all the imported products. This industry is followed by mineral fuels, oils, distillation products, etc.
Next let’s take a look at the results for exports
Singapre exports 2006 Export in $ value Exports as share of total exports
All industries 271,800,896
100
Electrical and electronic equipment 105,015,978
38.6
Boilers, machinery,nuclear reactors 48,714,488
17.9
Mineral fuels, oils, distillation
35,661,068
13.1
Organic chemicals 13,879,726
5.1
Table 2
Here again we have electrical and electronic equipment being leading. Moreover, boilers, machinery, nuclear
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