Brexit impact likely to leave Singapore relatively unscathed

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.
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

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

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.

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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 S'pore relatively unscathed'. Print Edition | Subscribe