The Republic of Singapore is a city-state in south-east Asia. It is 719.1 km² in size and consists of 63 islands, with the main island being Pulau Ujong. Singapore has four official languages: English (widely used for business), Mandarin Chinese, Malay and Tamil.
Singapore in figures:
-
5,607,000 inhabitants
-
GDP/inhabitant: USD 52,960 in 2016
-
France’s 12th largest customer
-
+ 2% growth in 2015/2016
2018 prospects:
-
The Singaporean economy is heavily dependent on international trade and was affected in 2016 by a slowdown in Chinese growth and the sluggishness of the global economy
-
A return to growth (+2.5%) expected for 2018
-
The city-state is doing all it can to attract and promote the development of foreign companies
Consumption trends:
-
Increasing demand for organic, healthy and ‘free-from’ products: launch of ‘Healthier Choice’ logo
-
Impact of international and in particular western standards: food safety
-
Consumers’ strong purchasing power and sophisticated palates have helped to ensure increasing demand for producer products (farmer products) and premium stores/storage
-
Nevertheless, some of the population prefer ‘discount’ products and are primarily seeking good value for money across all distribution channels
-
Strong tradition of out-of-home dining: regular attendance (4-5 days a week)
-
France is one of Singapore’s main suppliers (2nd behind Malaysia)
-
Wines and spirits make up the majority of these products (87.5% of total value), followed by dairy products and seafood products
-
France still has a prestigious image associated with high-quality products and traditional expertise
Source: "Where to export in 2018" by Business France (in French)
