Singapore leads global trade ranking for the fifth time

Its domestic market is rated as world's most open.

Singapore topped the Global Enabling Trade Report 2016 once again. The report, published by World Economic Forum and the Global Alliance for Trade Facilitation, assesses the extent to which economies have institutions, policies, infrastructures and services which facilitate the free flow of goods.

Singapore led the Enabling Trade Index (ETI) for the fifth time. Singapore's domestic market is rated as one of the world’s most open, with 99.7% of goods entering duty free. The report highlights its border processes as the best in the world – while failings in border administration are a stumbling block in other economies.

The country’s transport services and overall socio-political operating environment, including highly efficient and trusted public institutions, also contribute to its overall trade leadership.

The countries which made it to the top 10 are as follows:

More From Singapore Business Review

• Singapore's office rental market is the weakest in the world: study
  

• Singtel's Netlink all set for up to $2.5b IPO
  

• Biofourmis builds world's first personalised physio-data analytics platform