Singapore goods and services exports rebound In 2010

Overseas demand for made-in-Singapore goods and services increased in 2010, as markets recover from the economic crisis.

Goods exports from Singapore rose 22 per cent on-year to hit US$373 billion - similar to the level seen in 2008 and higher than in 2007 and that services export, or services by Singapore firms in overseas projects, reached US$86.5 billion between January 2010 and September 2010," according to Mr Teo Eng Cheong, CEO of International Enterprise Singapore.

This was 15 per cent more over the same period in 2009

IE Singapore dished out grants, financing and tax incentives to over 8,000 Singapore-based companies that wanted to tap on overseas markets last year. More than US$1.09 billion in loans and US$56 million in grants were approved through the agency’s assistance programmes.

Schemes in high demand included the International Partners Programme and the International Marketing Activities Programme.

Some 90 per cent of firms that IE Singapore helped to explore overseas opportunities last year were small and medium enterprises. Such assistance included: