Western Australia and Singapore have developed strong bonds over many years, with Perth a popular study, tourism and migration destination for Singaporeans. The city-state was Western Australia’s fifth largest market for merchandise exports in 2018, and Western Australia’s sixth largest market for imports.
Western Australia’s biggest exports to Singapore are petroleum and gold. Singapore is currently the third largest international tourism market for Western Australia by visitor numbers and spend, and fourth largest by visitor spend, with visitors attracted to the natural environment, wildlife, coastal lifestyle, and food and wine experiences.
The World Bank ranked Singapore as one of the easiest places in the world to start a business. Singapore also ranks among the top five global financial centres, with total assets under management by locally based funds reaching S$2.7 trillion in 2016.
Singapore is also a major transhipment point, with about 85 per cent of the containers arriving in Singapore shipped to another port of call.
The Government of Western Australia’s Singapore Office was established in 2012 to support Western Australian companies wanting to access the trade and investment opportunities found in Singapore.