Embassy of Ukraine in the Republic of Singapore

, Kyiv 09:10

Trade and economic cooperation (Singapore)

Trade and economic cooperation (TEC) is an important part of Ukraine – Singapore relations. TEC between Ukraine and Singapore started from the beginning of 1990-th when Ukraine gained Independence.

Dynamics of bilateral trade characterized by its low scopes in the first years since establishment of diplomatic relations (1992). From the 2000-th it was increased but still not remain stable.

 

Dynamics of foreign trade in goods (By Statistics Authority of Ukraine, mln. USD)

Year

Еxport

Import

Balance

2001

93,1

8,5

84,5

2002

125,9

7,8

118,1

2003

132,2

16,4

115,7

2004

286,3

13,0

273,3

2005

489,6

18, 3

471,3

2006

211,5

22,3

189,2

2007

353,3

21,9

331,4

2008

457,9

41,1

416,8

2009

129,2

26,8

102,4

2010

147,2

23,8

123,3

2011

218,2

43,6

174,6

2012

155,5

823,03

- 667,5

2013

239,5

57,8

181,7

2014

126,2

41,8

84,4

2015

5,152

21,3

-16,1

As of November, 2016 the bilateral turnover stood at 63,9 million USD, of which trade in services reached 23.3 million USD (as of September, 2016).

The range of commercial positions of the parties remains significant. Ukraine’s main exports to Singapore are products of chemical and metallurgical industries; from Singapore to Ukraine – household appliances and semi finished food products.

Service sector occupies significant part of TEC.

 

Dynamics of foreign trade in services (By Statistics Authority of Ukraine, mln. USD)

Year

Export

Import

Balance

2007

18,4

6,9

11,5

2008

18,7

13,8

4,8

2009

23,5

4,6

18,9

2010

17,7

5,6

12,1

2011

17,6

8,6

8,9

2012

19

9,4

9,5

2013

27,3

6,9

20,3

2014

22,6

14,8

7,7

2015

15,5

9,01

6,6

Legal base is being formed in order to set up normal preconditions for TEC development.

Temporary occupation of Crimea Peninsular and Russian aggression against Ukraine affect negatively Ukraine-Singapore cooperation.

 

Useful links (Ukraine):

Ministry of Economic Development and Trade of Ukraine -  www.me.gov.ua;

State Agency for Investment and National Projects of Ukraine - www.ukrproject.gov.ua;

SC «DERZHZOVNISHINFORM» http://dzi.gov.ua/en/

The Ukrainian Union of Industrialists and Entrepreneurs - www.uspp.org.ua

The Ukrainian Chamber of Commerce and Industry  - www.ucci.org.ua

Ukrainian National Committee International Chamber of Commerce - www.iccua.org/en

Tenders of Ukraine - www.ua-tenders.com

Exhibitions in Ukraine - www.me.gov.ua/control/uk/publish/category/main?cat_id=118869

Useful links (Singapore):

Ministry Of Trade And Industry - www.mti.gov.sg

International Enterprise Singapore - www.iesingapore.com

Singapore Business Federation  - www.sbf.org.sg

Singapore International Chamber of Commerce - www.sicc.com.sg/

Singapore Chinese Chamber of Commerce and Industry - http://english.sccci.org.sg

Singapore Malay Chamber of Commerce and Industry - www.smcci.org.sg/

Singapore Indian Chamber of Commerce and Industry - http://sicci.com/

Tenders of Singapore - www.gebiz.gov.sg

Exhibitions in Singapore - www.biztradeshows.com/singapore/singapore