Enterprise Singapore Logo
  • Industries
    • Industry Type
      • Agritech
      • Air Transport
      • Built Environment
      • Business Services
      • Digital / ICT
      • Electronics
      • Energy & Chemicals
      • Food Manufacturing
      • Food Services
      • Healthcare and Biomedical
      • Land Transport
      • Logistics
      • Marine & Offshore Engineering
      • Precision Engineering
      • Retail
      • Sea Transport
      • Urban Solutions
      • Wholesale Trade
    • Hub
      • Infrastructure Hub
      • Startup Hub
  • Overseas Markets
    • Africa
      • Ghana
      • Ivory Coast
      • Kenya
      • Morocco
      • Mozambique
      • Nigeria
      • South Africa
    • Asia Pacific
      • ASEAN
      • Australia
      • Cambodia
      • China
      • India
      • Indonesia
      • Japan
      • Malaysia
      • Myanmar
      • Philippines
      • South Korea
      • Thailand
      • Vietnam
    • Europe
      • France
      • Germany
      • Russia
      • Türkiye
      • Netherlands
      • United Kingdom
    • Middle East
      • Egypt
      • Israel
      • Jordan
      • Oman
      • Qatar
      • Saudi Arabia
      • United Arab Emirates
    • North & Latin America
      • Brazil
      • Canada
      • Colombia
      • Mexico
      • United States of America
    • Go Global
  • Quality & Standards
    • Standards
      • For Companies
      • For Partners
      • E-Alert for Standards
    • Accreditation
      • For Companies
      • For Conformity Assessment Bodies
      • For Partners
      • Mutual Recognition Arrangements (MRAs)
    • Business Excellence
    • Consumer Protection
      • Consumer Product Safety Office
      • Weights and Measures Office
  • Financial Assistance
    • Grants
      • For Startups
      • For Local companies
      • For Partners
    • Loans & Insurance
      • Enterprise Financing Scheme (EFS)
    • Tax Incentives
      • Double Tax Deduction for Internationalisation (DTDi)
      • Global Trader Programme
      • Fund Management Incentive (FMI)
      • Venture Capital Fund Incentive (VCFI)
    • Investments
      • Startup SG Equity
      • SEEDS Capital
      • EDBI
  • Non-Financial Assistance
    • For Singapore Companies
      • Supporting Your Startup Journey
      • Digital Programmes
      • Growth Partnership Programme
      • Sustainability
      • Business Toolkits
      • Talent Attraction and Development
      • Network of Partners
      • Export Guides
      • Free Trade Agreements
    • For Foreign Companies
      • Join Singapore's Startup Hub
      • Living in Singapore
      • Setting Up in Singapore
      • Free Trade Agreements
      • Double Tax Avoidance Agreements
      • International Investment Agreements
    • For Individuals
      • Skills Development for Students
      • Skills Development for Mid-Career Professionals
      • Be Inspired
  • About Us
    • Overview
    • Vision & Mission
    • Board of Directors
    • Subsidiaries
    • Strategic Plan
    • Year-in-Review 2021
    • Careers
    • Media Centre
Search
  • Share
  • Home
  • Industries
  • Industry Type
  • Wholesale Trade
  • Industry Profile
Wholesale Trade
  • Industry Profile
  • Trade Ecosystem
  • Boost Capabilities
  • Go Global
  • Develop Talents

Industry Profile

Industry Overview
 

Wholesale trade refers to the business-to-business (B2B) transaction of goods. Comprising more than 34,500 companies, it is a highly diversified industry. A wide range of products, from commodities to industrial and consumer products, are traded through Singapore.

Wholesale trade companies include:

  • Brand owners (such as Apple and Qualcomm)
  • Distributors of other companies’ brands (such as Excelpoint and Lim Siang Huat)
  • Trading arms of manufacturers and retailers (such as Toyota)
  • Large commodities trading houses (such as Olam, Shell, and Wilmar)

A key contributor to Singapore’s economy, wholesale trade accounted for S$81 billion or 18% of our Gross Domestic Product (GDP) in 2020. It also provides more than 300,000 jobs to about 8% of Singapore’s workforce.

In 2023, a refreshed Wholesale Trade Industry Transformation Map (ITM) was launched to prepare the wholesale trade industry for global competition by encouraging wholesalers to adapt and innovate to remain relevant through challenges like rising population, urbanisation and consumerism.

Explore the ITM to understand the core strategies at work, the initiatives and schemes to drive innovation and technology adoption, upskill your workforce to take on better jobs, and improve productivity through better trade practices. See the Wholesale Trade ITM here.

Trade 2030
 

As part of Singapore Economy 2030, the Trade 2030 strategy was launched to deepen and widen Singapore’s trade and to help enterprises grow beyond our borders. This strategy focuses on enhancing trade and strengthening Singapore’s connectivity to the world, by growing trade volume, diversifying trading activities, expanding trade with more parts of the world, and attracting more global traders and new trade flows through Singapore. It will also capture more re-exports and transhipment flows, to plug Singapore more deeply into global supply chains.

 

Booming Consumer Market in Asia
 

Asia’s rapid population growth is driving the region’s urbanisation and consumer needs. This results in an increase in the region’s demand for goods such as food, infrastructure materials and equipment, and smart devices.

If you are in wholesale trade, you are well-positioned to capture these growth opportunities in the region, with the support of a vibrant ecosystem and strong trade infrastructure in Singapore.

Impact of Digitalisation
 

Capitalise on digital technology to stay competitive in the global trading environment. Digital marketplaces have emerged as an alternative channel for wholesale trade. Such platforms enable traders to have a wider reach to customers in a more efficient manner and enjoy greater economies of scale.

As a wholesale trade company, you can ride this digital wave by adopting digital solutions and automation to streamline your processes and be more productive. You can also train your employees in new skills, such as digital marketing and data analytics, which are essential for conducting trade in a digital era.

Wholesale Trade Goes Green
 

In recent years, greater environmental and social concerns have increased the demand for sustainable trading. Wholesale traders are investing time and resources to adopt sustainable practices. Integrating environmental and sustainability elements into your sourcing and trading decisions will keep you relevant in the sector, and compliant with industry standards.

If you run trading desks, keep up with the sustainability standards to leverage on emerging opportunities in the wholesale trade sector.

Want to Find Out More?
 

Enterprise Singapore supports Singapore wholesale trade companies to explore opportunities locally and abroad with a suite of tools and programmes.

Find out how you can boost capability, go global, tap the trade ecosystem and develop talents to innovate and seize new opportunities.

Other useful information:

Free Trade Agreements
Find out how Free Trade Agreements can help grow your export business.
Read More
Economic Partnership Agreements
Find out how you can enjoy preferential market access.
Read More

 



TOP

Newsletter Sign Up

Get the latest news on how to grow your business - delivered straight to your inbox. Because growing your business is our business.

SUBSCRIBE
  • About Us
  • Media Centre
  • Careers
  • Events
  • E-Services
  • Resources
  • Inspiring Stories
  • Blog

Connect with us

  •  
  •  
  •  
  •  
Contact | Feedback |
Whistle-blowing
  • Sitemap
  • Terms of Use
  • Privacy Statement
  • Report Vulnerability

© 2018 Enterprise Singapore

(Last updated on 05 January 2023 16:58:08)