ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintIcon Twitter

Singapore exports grow in 2020 despite COVID turmoil

Benchmark figure rises 4.3% on semiconductor and pharmaceutical demand

A containership docks at a terminal in Singapore in this file photo: The city-state's relatively brisk exports for 2020 contrast with its record 5.8% GDP contraction.   © Reuters

SINGAPORE -- Singapore's exports grew 4.3% last year despite the economic recession caused by the COVID-19 pandemic, thanks to persistent global demand for semiconductors and pharmaceuticals -- the city-state's key manufactured products.

Data released on Monday by Enterprise Singapore, a government agency, shows the benchmark non-oil domestic exports -- total exports minus oil and re-exports -- for 2020 came to 172 billion Singapore dollars ($128 billion), up from SG$165 million in 2019.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more