Singapore, Hong Kong export difference

Singapore, Hong Kong export difference

Germany, not China, is the world’s biggest merchandise exporter with a 9.1 percent share of the world trade and exports worth $1,465 billion last year, according to figures compiled by World Trade Organization (WTO). China is second with an 8.9 percent share and exports worth $1,428 billion. America is the third biggest exporter with an 8.1 percent share and $1,301 billion worth of exports.

America is the world’s biggest importer accounting for 13.2 percent of the trade and imports worth $2,166 billion. Germany is second and China third.

Japan is the fourth biggest exporter and importer, according to the WTO report which forecast a 9 percent drop in global trade this year – the sharpest fall since the Second World War (1939-45)

Singapore is the 14th biggest exporter with exports worth $338 billion, Hong Kong 13th with $370 billion.

But while $176 billion of Singapore’s exports were “domestic exports” or products made in Singapore, Hong Kong made only $17 billion of the goods it exported. The rest were “re-exports”.Worth $353 billion, Hong Kong’s re-exports exceeded Singapore’s total exports. Singapore’s re-exports – goods processed or “finished” in Singapore – were worth $162 billion.

Hong Kong is the 13th biggest importer with $393 billion of imports – of which $98 billion were “retained imports”.

Singapore is the 15th biggest importer with $320 billion of imports – of which $157 billion were “retained imports”, that is imports which were not re-exported.

Here is the list of the world's 30 leading merchandise exporters and importers, which includes Malaysia, Indonesia, Thailand, South Korea, Taiwan and India.

But were it not for China and Japan, Asia would lag behind Europe and North America. The Netherlands is the world’s fifth biggest exporter and Belgium eighth. France is sixth, Italy seventh, Russia ninth and Britain 10th.

America is the world’s top exporter of commercial services followed by Britain and Germany. America exported $522 billion worth of commercial services, taking a 14 percent share of the market, while Britain’s exports totalled $283 billion for a 7.6 percent share and German exports were worth $235 billion, taking a 6.9 percent market share.

France is fourth, Japan fifth, Spain sixth, China seventh, Italy eighth, India ninth and the Netherlands tenth.

Hong Kong is 12th, just behind Ireland, with exports worth $91 billion and a 2.4 percent market share. Singapore is 17th with exports worth $72 billion for a 1.9 percent market share.

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