The United States and Singapore have a close and cooperative trade relationship, which is underpinned by The United States-Singapore Free Trade Agreement (FTA) that entered in force on January 1, 2004. The agreement has functioned generally smoothly, with trade and investment growing significantly in both directions. The latest information regarding significant trade barriers can be found in the 2024 National Trade Estimate Report, see here.
Singapore Trade & Investment Summary
U.S. goods trade with Singapore totaled an estimated $89.2 billion in 2024. U.S. goods exports to Singapore in 2024 were $46 billion, up 8.4 percent ($3.6 billion) from 2023. U.S. goods imports from Singapore totaled $43.2 billion in 2024, up 5.6 percent ($2.3 billion) from 2023. The U.S. goods trade surplus with Singapore was $2.8 billion in 2024, an 84.8 percent increase ($1.3 billion) over 2023.
