China poised to become Singapore's second largest trading partner by 2030 (3)

The report explained that "as emerging markets in Asia move up the value chain, this growing intra-regional trade is reshaping trade routes and creating powerful networks outside of developed markets. Singapore businesses that are expanding into these emerging markets will benefit from this trend."

While a challenging 2012 has brought about less optimism amongst Singapore traders, HSBC report predicts an increase in trade for Asia in 2013, driven by emerging economies such as China and India.

Singapore as a trading hub will benefit from this trade growth, with China, India and Vietnam being her fastest growing trade routes, with India also expected to become Singapore's fifth largest trading partner by 2030.

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