
Chart of the Day: Wholesale trade sector grabs lion’s share of business formations in Q3
Singapore’s strategic location continues to cultivate trading.
No surprise here, as trading companies continued to sprout in all corners of the city-state, grabbing 19% of all company formations in Singapore for 3Q.
According to a report by Hawksford, the growth is a result of years of investment in terms of Singapore’s connectivity with its neighbors, as well as in transport in the form of trade pacts.
Hawksford added that financial services grabbed the next highest share with 12%.
“The slowdown in China and uncertainties in the western economies shifted the attention to Singapore,” Hawksford said.