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Singapore’s economy has rebounded post COVID-19 pandemic. The city-state is heavily reliant on imports of food and energy, the food and beverage industry are largely driven by international tourism and consumer spending.

Singapore imports more than 90 percent of its food and has a diverse, competitive array of trading partners. The United States and Singapore have a long-standing free trade agreement (FTA), and Singapore is a well-developed market for high-quality food and agricultural products.

Singapore’s food retail sector is highly developed and competitive. The industry is comprised of a range of large supermarkets/hypermarkets, convenience stores, “mom and pop” traditional stores, and specialty retailers.