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Singapore Import & Export Toolkit

Singapore is a duty-free port for almost all goods, but GST and TradeNet permits still apply. This hub covers LC cost in SGD/USD, 9% GST on imports, transhipment rules and Incoterms best practice for the world's busiest transhipment hub.

Currency
SGD (Singapore Dollar)
GST
9% standard (from 2024)
0% (zero-rated) on exports and international services. Major Exporter Scheme (MES) and Approved Contract Manufacturer & Trader (ACMT) schemes allow GST suspension.
Duty regime
Free port - duty is zero on almost all goods. Excise duty applies only to intoxicating liquors, tobacco, motor vehicles and petroleum. Preferential origin still matters for onward FTA usage (27 FTAs including CPTPP, RCEP, EU-Singapore, US-Singapore).
Regulatory deep-dive
Singapore import & export regulations →
Singapore trade rules: TradeNet permits, Strategic Goods Control Act, SFA food safety, HSA pharma, extensive FTA network including CPTPP.
Authorities · Licensing · Sanctions
Also see compare Singapore vs other markets →

Free calculators for Singapore trade

LC Cost Calculator →
All-in bank charges on a Letter of Credit.
Usance LC Interest →
Deferred payment cost with correct ACT/360 or ACT/365 basis.
Import Duty & Tax →
Duty, VAT/GST and landed cost per HS code.
Landed Cost by HS & Country →
Interactive duty + VAT/GST + Incoterm split for this destination.
CIF ↔ FOB Converter →
Convert between CIF, FOB and landed cost.
HS Code Lookup →
Search harmonised classification codes.
CBM & Container →
Volume, weight and container utilisation.
Incoterms 2020 Visualiser →
Cost, risk and document split across all 11 rules.
Multi-Currency Invoice →
FX spread and cross-currency invoice value.
Major ports & gateways
  • · PSA Singapore (Tuas, Pasir Panjang, Brani, Keppel) - world's #1 transhipment hub
  • · Jurong Port
  • · Sembawang
Top exports
  • · Integrated circuits
  • · Refined petroleum
  • · Petrochemicals
  • · Gold
  • · Machinery
  • · Pharmaceuticals
  • · Palm oil (re-export)
Top imports
  • · Integrated circuits
  • · Crude petroleum
  • · Refined petroleum
  • · Gold
  • · Machinery
  • · Pharmaceuticals

Trade finance in Singapore

  • · SGD LC usance interest is quoted on ACT/365 - Commonwealth convention - even though SGD is a heavily USD-correlated currency. USD LCs booked in Singapore use ACT/360.
  • · MAS-regulated banks in Singapore (DBS, OCBC, UOB, plus every major global bank) issue and confirm LCs at some of the finest pricing in Asia - 0.10-0.20% per quarter for issuance, 0.15-0.35% for confirmation on decent-rated counterparts.
  • · Enterprise Singapore's Trade Credit Insurance scheme and Loan Insurance Scheme reduce risk for SME exporters and can be layered under an LC.
  • · Singapore Convention on Mediation and English-language SIAC arbitration make Singapore a preferred seat for trade dispute resolution.

Customs & duty in Singapore

  • · Singapore Customs classifies goods under the ASEAN Harmonised Tariff Nomenclature (AHTN) - an 8-digit code aligned to the WCO HS at 6 digits.
  • · Every import requires a TradeNet permit before goods are cleared - even zero-duty items. Non-controlled goods clear in minutes; controlled goods (food, chemicals, medical devices) need agency approval.
  • · Customs value follows WTO transaction value. GST is charged on CIF + duty + insurance where applicable. Transhipment (goods staying within FTZ) is not subject to GST or duty.
  • · For onward FTA use, a preferential Certificate of Origin (Form D for ASEAN, Form E for ASEAN-China, RCEP CoO for RCEP) must be obtained via Singapore Customs.

Incoterms 2020 practice in Singapore

  • · Singapore's role as a transhipment hub means CFR Singapore and CIF Singapore appear on many bills of lading where the true final destination is elsewhere in Southeast Asia. Ensure your LC's Field 44E / 44F matches the routing.
  • · DDP into Singapore is straightforward for GST-registered sellers; for non-registered sellers, DAP is the practical maximum.

HS commodity guides for Singapore

Classification, duty and worked landed-cost examples for the commodity families most active on Singapore's trade lanes.

HS 85Electronics
HS Code for Electronics (Chapter 85) into Singapore →
HS 84Industrial
HS Code for Industrial Machinery (Chapter 84) into Singapore →
HS 30Regulated
HS Code for Pharmaceuticals (Chapter 30) into Singapore →
HS 2709Energy
HS Code for Crude Oil (HS 2709) into Singapore →
HS 2710Energy
HS Code for Petroleum Products (HS 2710) into Singapore →
HS 29 & 39Chemicals
HS Code for Petrochemicals (Chapter 29 & 39) into Singapore →
HS 71Metals
HS Code for Precious Metals (Chapter 71) into Singapore →
HS 15Agricultural
HS Code for Edible Oils (Chapter 15) into Singapore →

Every HS commodity landed-cost page for Singapore

Direct link to the Singapore import guide for each HS commodity we publish.

Singapore's key trading partners

China toolkit →
Import VAT · 13% standard, 9% reduced, 6% services
United States toolkit →
No federal VAT / GST · 0% federal
Japan toolkit →
Consumption Tax (JCT) · 10% standard / 8% reduced (food, newspapers)
South Korea toolkit →
VAT · 10%
Indonesia toolkit →
PPN (VAT) + PPh 22 (income tax prepayment) · PPN 11% (12% planned); PPh 22 2.5% (with API) or 7.5% (no API)
India toolkit →
IGST on imports · 5% / 12% / 18% / 28%

Frequently asked questions

Is Singapore a duty-free port?

Effectively yes for most goods. Excise duty applies only to intoxicating liquors, tobacco, motor vehicles and petroleum products. GST @ 9% still applies to all imports unless zero-rated or under a suspension scheme (MES/ACMT).

What is TradeNet and do I need it?

TradeNet is Singapore Customs' single-window electronic system. Every import, export and transhipment declaration must be filed via TradeNet - typically through a freight forwarder or declaring agent. Even zero-duty movements require a permit.

Which day-count convention applies to SGD LCs?

ACT/365, following the Commonwealth convention. USD LCs booked in Singapore use ACT/360. Our Usance LC Interest Calculator applies the correct basis per currency automatically.

How does Singapore's GST work on transhipment?

Transhipment goods that stay within a Free Trade Zone (FTZ) and are re-exported without entering Singapore customs territory pay no GST and no duty. Only goods cleared into the local market attract 9% GST.

Country data compiled from WCO HS, WTO tariff schedules, national customs authorities and central banks. Duty, tax and regulatory information is decision-support only - always confirm with a licensed customs broker or your bank before acting.