Singapore the Top Exporters in APAC

A research study, commissioned by FedEx Express found that the Small- and medium-sized enterprises (SMEs) in Singapore were the top exporters by revenue in APAC. As they see a jump in digital technologies seen as one of the key drivers of International Expansion.


 

A research study, commissioned by FedEx Express found that the Small- and medium-sized enterprises (SMEs) in Singapore were the top exporters by revenue in APAC. As they see a jump in digital technologies seen as one of the key drivers of International Expansion.

 

According to the research conducted by Harris Interactive and entitled Global is the New Local: The Changing International Trade Patterns of Small Businesses in Asia Pacific, Singapore SMEs generated the highest average annual exporting revenue at US$1.75 million, which accounted for nine in every 10 dollars of overall revenue.  This was ahead of the US$1.21 million average recorded across Asia-Pacific (APAC) countries.  SMEs in Singapore are also ahead of the curve in regards to intra-regional exports with 78% of SMEs exporting to other markets in the APAC region. This is ahead of the regional average of 70%.

 

The independent study also showed that the thriving digital economy in Singapore continues to drive business growth among SMEs in the country.  Digital platforms have emerged as a key driver of export revenue for many SMEs, with 78% using e-commerce, 65% using social commerce, and 57% using mobile commerce. And the trend is anticipated to continue, as there is optimism among SMEs leveraging e-commerce for increased revenue growth across all three channels within the next 12 months — 54% for e-commerce, 55% for mobile commerce, and 55% for social commerce.