Brexit impact likely to leave Singapore relatively unscathed

Limited trade, investment exposure in UK; financial markets may suffer short-term hit

Singapore is working on a trade deal to bring the provisions of the European Union-Singapore Free Trade Agreement to the United Kingdom, independent of Brexit outcomes. PHOTO: ST FILE
New: Gift this subscriber-only story to your friends and family

Singapore's limited exposure in terms of trade and investment in Britain could see the Republic emerge relatively unscathed from Brexit, which remains mired in uncertainty after a chaotic parliamentary session in Britain last week, analysts said.

Singapore's trade with Britain accounted for only 1 per cent of its total exports and 2.1 per cent of its total imports last year, United Overseas Bank economist Barnabas Gan told The Straits Times.

Already a subscriber? 

Read the full story and more at $9.90/month

Get exclusive reports and insights with more than 500 subscriber-only articles every month

Unlock these benefits

  • All subscriber-only content on ST app and straitstimes.com

  • Easy access any time via ST app on 1 mobile device

  • E-paper with 2-week archive so you won't miss out on content that matters to you

Join ST's Telegram channel and get the latest breaking news delivered to you.

A version of this article appeared in the print edition of The Straits Times on September 16, 2019, with the headline Brexit impact likely to leave Singapore relatively unscathed. Subscribe