Asia's Foot & Wheels

One of the most open economies in the world is that of Singapore. It boasts the greatest trade to GDP ratio in the world, with total trade exceeding GDP. This is a reflection of the nation's function as an oil and gas hub, a trading port, and a participant in regional supply chains, all of which have over time resulted in a large rise in the trade of intermediate commodities. The nation serves as a regional hub for logistics firms and, thanks to its first-rate infrastructure and connectivity, aids in accelerating businesses' access to the global market. The nation ranks third for logistics proficiency in the world according to the World Bank's Logistics Performance Index (LPI) 2018, which places it at 7th position. Due to its status as a regional hub, the nation attracts manufacturers who may benefit from the ecosystem of top shippers and third-party logistics companies (3PLs) there. To manage their local and international supply networks, manufacturing businesses based their supply chain command posts and distribution hubs in Singapore.

Singapore's port is acknowledged as the world's busiest centre for container transshipment. With connections to more than 600 ports in more than 120 nations, the strategically located nation acts as a gateway to ASEAN nations and the rest of the world. The maritime industry has grown over the past few years because to the superior quality and services, world-class infrastructure, and ongoing R&D efforts.Asia's leading position in the logistics industry could be explained mostly because of the importance of the region in supplying most of the necessary trade goods globally and Singapore is at the centre of it.