Sea Transport

Key Markets

Find out more about the key markets for sea transport and how you can reach them through the right networks and resources. 
  • China
China

S$167.04b

Total bilateral trade in goods with Singapore (2023)

Population (2022)

 

1.4b
Currency

 

Chinese yuan
GDP (2022)

 

US$17.96t
GDP growth (2022)

 

3.0%
GDP per capita (2022)

 

US$12,720.2
Global competitiveness index (2023)

 

21st

Step into new high-growth markets

With seven of the ten busiest ports in the world, China has established its dominance in maritime trade. You can leverage China’s ports and partner Chinese companies to advance technological solutions for the maritime industry in China and beyond, as China also owns over a hundred ports in more than sixty countries.

  • Leverage China's flourishing maritime landscape

    Zhejiang, a coastal province in Southeast China, is one of the country’s richest provinces with a gross domestic product of S$1.1 trillion – about three times the size of Singapore’s economy.

    Trade between Singapore and Zhejiang almost doubled in the past decade to reach S$5.2 billion in 2017. Singapore firms have also invested a total of S$7.2 billion in more than 1,200 projects in the province.

    If you run a sea transport business, consider business opportunities in Zhejiang’s Pilot Free Trade Zone (FTZ). Glencore Singapore is partnering Zhejiang Petroleum to establish a joint venture in the FTZ to conduct and promote oil trading in the region. Consort Bunkers has inked a Memorandum of Understanding with the Zhoushan government to collaborate on the marine bunkering value chain.

    You can expect more opportunities in bunkering services, petroleum trading services and distribution, and port and maritime services under China’s Belt and Road Initiative.

    As a Singapore company, you can leverage China’s digital growth and partner Chinese companies to advance technological solutions for the maritime industry in China, ASEAN and beyond. The Global Innovation Alliance (Beijing) led by Enterprise Singapore can connect you to tech and startup players in China for collaborations.

Learn more about the China market