Africa-Singapore economic relations

BUSINESS

Africa-Singapore economic relations expand with bilateral trade growth at 15% per annum

Economic relations between Singapore and Africa continue to expand, as bilateral trade in goods grew by around 15% per annum between 2019 to 2022, reaching US$14.5 billion in 2022. Singapore companies’ investments in the African continent cumulatively reached US$23.7 billion as at 2021. As testament to the robust interest to participate in Africa’s growth opportunities, five agreements were inked at…