Estimating the Value-Added from Singapore's Exports to Key Markets

The value-added (VA) from Singapore’s exports to key markets in 2005 was estimated using the Input-Output (IO) tables. In aggregate, VA from exports is estimated to have accounted for 54 per cent of Singapore’s GDP in 2005. Of this, 30 per cent of GDP was attributed to merchandise goods, while 24 per cent of GDP was attributed to services exports.

The G-3 dominated as a source of export VA in 2005, both for merchandise goods and services. This was partly because the basket of goods exported to the G-3, such as biomedical manufacturing and electronics products, had higher VA than the goods exported to other economies.

Merchandise goods exports to Asia generated lower VA than those to the G-3, primarily because of the quality of the basket of goods exported to these economies. However, services exports to emerging Asia generated significant VA to the Singapore economy, primarily due to exports of healthcare and financial services.

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