China poised to become Singapore's second largest trading partner by 2030 (2)

Reflecting this outlook, growth in Chinese exports is expected to be most rapid to other economies in Asia excluding Japan with an average annual pace of expansion of 15 percent a year during 2013 to 2015.

According to the forecast made by HSBC, Malaysia which is currently Singapore's largest trading partner is expected to retain its position. The various sub-regions in Asia remain Singapore's top trading partners. In contrast, the United States and the United Kingdom have both become less significant in recent times with nearly 50 percent fewer Singaporean traders doing business in the two countries.

As the demand in Euro-zone remained weak, Singapore's exports to European continent are also expected to be largely flat from 2013 to 2015, with growth subsequently recovering to just on average 3 percent annually in the decade to 2030.

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