Trade policy review of Singapore

Shihao Zhou and Qu Feng

The World Economy, 2023, vol. 46, issue 12, 3472-3481

Abstract: As a small open economy with almost no natural resources, Singapore is highly dependent on international trade. This paper reviews the eighth Trade Policy Review of Singapore published by World Trade Organisation (WTO) in 2021. We first begin with Singapore's trade policies that shape it as a trusted and leading node in both global supply chains and financial sectors. We then focus on its transformation to a digital economy and important Free Trade Agreements (FTAs). Lastly, policymakers should keep monitoring other potential issues such as shortage of labour and ageing population to ensure sustainable economic growth of Singapore in the long run.

Date: 2023
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