The 21 member-states of Asia Pacific Economic Cooperation (Apec) meeting in Singapore today include three of the world's biggest trading nations — America, the world's biggest importer and third biggest exporter, China, second in exports and third in imports, and Japan, fourth in exports and imports. Only Germany, the biggest exporter and second biggest importer, is not a member.
But Singapore beats them all in per capita trade.
Singapore's per capita trade totals a staggering $156,419, more than 80 times as much as China's and almost four times as much as Germany's, the world's biggest exporter. Only Hong Kong comes close, with a per capita trade of $119,905. America's is just over $13,000. China's? $1,796.
Look at the charts. The top per capita traders tend to be small or medium-size economies, as you can see.
All the figures are from the World Trade Organization (WTO). Check the various country profiles on the WTO website. Click here for the Singapore profile.
No wonder Apec 2009 in Singapore will focus on “longer-term” issues such as promoting trade and market opening as the group’s members emerge from recession, Singapore Prime Minister Lee Hsien Loong said.
Trade is the very lifeblood of Singapore.
Here is a chart with the key economic indicators of Singapore, Hong Kong and the world's top four trading nations. All the figures are taken from the WTO website. Overall, Singapore is 14th in exports and 15th in imports. But then you have to consider how small it is — a city-state with just 4.8 million people.
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