Singapore is Western Australia’s sixth largest export market, accounting for 2.3 per cent of the state’s total exports in 2015‑16.
Western Australia’s biggest export to Singapore is gold. Exports of gold jumped dramatically in 2014 after Singapore launched an exchange-traded gold contract on the Singapore Exchange. The total value of Western Australia’s gold exports to Singapore increased from $179 million in 1989‑90 to $1.2 billion in 2015‑16.
From 2002‑03 to 2012‑13, the state’s main export to Singapore was crude petroleum. Western Australia’s crude petroleum exports to Singapore are refined and imported back into the State.
Western Australia and Singapore have developed strong bonds over many years, and Perth is a popular study, tourism and migration destination for Singaporeans.
The Department of State Development supports Western Australia’s Trade Office in Singapore.