Singapore’s goods trade with West Africa climbed 85% to $7.47 billion in 2024 from $4.04 billion in 2020, lifting the sub‑region’s share to about 55% of the city-state’s total Africa trade, according to a fact sheet released recently by the government trade agency enterprise, Singapore.
“The strong trade figures underscore the growth in key sectors such as agro-commodities, agro-processing, FMCG distribution and manufacturing,” says Rahul Ghosh, Director of Middle East and Africa for Enterprise Singapore.
“New growth segments such as renewable energy, green building solutions and recent investments in areas like carbon projects have also opened new areas of collaboration between Singapore and West Africa.
These industries leverage both Singaporean businesses’ technical capabilities and Ghanaian businesses’ market insights to unlock win-win outcomes,” adds Ghosh.
The factsheet also noted that Singapore-based companies had invested over $20 billion in Africa as of end-2023.