Marine trading sector in Singapore

Pemmaraju Satya Prem *

Symbiosis Institute of Business Management (SIBM), Pune Campus, Symbiosis International (Deemed University) (SIU), Pune, 412115, Maharashtra, India.
 
Review
International Journal of Science and Research Archive, 2024, 11(01), 1562–1572.
Article DOI: 10.30574/ijsra.2024.11.1.0192
Publication history: 
Received on 23 December 2023; revised on 02 February 2024; accepted on 05 February 2024
 
Abstract: 
The marine trading sector in Singapore is a cornerstone of the nation's economy, strategically positioned at the crossroads of major global shipping routes. This report thoroughly explores the worldwide importance of Singapore's maritime trade, highlighting its pivotal role in facilitating the movement of goods and commodities. Singapore's impact on global maritime trade remains significant, propelled by its exceptional port facilities, streamlined logistics infrastructure, and advantageous geographic location. Moreover, the report emphasizes the crucial role played by the Strait of Malacca, acting as a vital maritime passage where a considerable portion of global trade passes through. Understanding the intricacies of Singapore's marine sector and recognizing the strategic importance of the Strait of Malacca is imperative for comprehending the nation's impact on global trade dynamics. This underscores Singapore's continuous involvement as a key player in the complex web of international commerce
 
Keywords: 
Marine trading sector; Global shipping routes; Geographic location; Strait of Malacca; Economy
 
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