As a diversified economy, Singapore relies on manufacturing and services as the dual engines of its economic growth. In 2021, Singapore’s GDP reached SGD 533.4 billion, with manufacturing accounting for 22% of this total.

The Industry Transformation Map (ITM) introduced by the Singapore government to enhance productivity and upskill workers across sectors has gradually yielded positive results. Despite the impact of the pandemic, Singapore’s productivity has maintained robust growth, with an annual productivity growth rate of 3.9% from 2019 to 2021.

Singapore stands as one of Asia’s key logistics hubs, with two-thirds of the world’s top 25 logistics companies establishing their regional headquarters here. The logistics sector contributes SGD 6.8 billion (approximately RMB 33.39 billion) to Singapore’s GDP. Leveraging its strategic geographical location and global connectivity, Singapore has vigorously developed its sea and air transport infrastructure.

Boasting a world-class transshipment hub and the world’s best airport, Singapore’s port is recognized as a leading international shipping center. Plans are underway to build the Tuas Super Port, which is poised to become one of the world’s largest automated container terminals, increasing container handling capacity from 50 million TEUs to 65 million TEUs annually.

These infrastructure developments have enhanced the connectivity of Singapore’s transportation network, driving the growth of the logistics industry.