Singapore presents huge market potential for Zimbabwe

THERE is significant potential for Zimbabwe to increase its range and volume of exports to Singapore, following a market scan conducted by ZimTrade that identified substantial opportunities in the Southeast Asian market.

As a global trade hub, Singapore could present a lucrative market for Zimbabwean products, particularly in sectors like horticulture, processed foods, leather goods and essential oils, the national trade promotion and development body found, after its market study.

The findings from the market scan and the subsequent recommendations offer valuable insights for Zimbabwean businesses seeking to tap into the Singaporean market.

The Southeast Asian nation’s dependency on imports, particularly food, makes it an attractive destination for Zimbabwean agricultural and processed food products.

With over 90 percent of Singapore’s food supply coming from overseas, the country’s population of approximately 5,7 million presents a significant opportunity for Zimbabwean exporters.

As one of the Four Asian Tigers, Singapore boasts a highly developed economy, strategic location and world-class infrastructure, including one of the busiest airports in the world.

Although trade between Zimbabwe and Singapore is currently modest, there is significant potential for growth.

In 2024, Zimbabwe’s exports to Singapore totalled US$10,3 million, mainly consisting of blueberries, raw hides, tobacco and gold.

On the other hand, Zimbabwe’s imports from Singapore amounted to US$355 million, a drop from US$1,1 billion in 2022.

The market scan highlighted several sectors with high export growth potential, particularly in horticulture, where Zimbabwe has a significant opportunity to export fresh produce, especially blueberries, avocados, citrus fruits and chillies.

Establishing a direct trade route would allow Zimbabwean exporters to gain a competitive edge and tap into a market worth over US$47 million.

The processed foods sector also holds promise, driven by Singapore’s growing demand for organic and natural products.

Zimbabwean exporters of organic teas, dried fruits, nuts, jams and sauces can also capitalise on the growing demand trend.

The essential oils market also presents an opportunity for Zimbabwean exporters of avocado oil and other organic oils to build long-term relationships with industry players in Singapore.

“Zimbabwean exporters have considerable potential to expand their presence in Singapore’s market.

“While Zimbabwean blueberries are already present in the Singaporean market, they are re-exported through South Africa. In horticulture, Zimbabwe has a significant opportunity to export fresh produce, especially blueberries, avocados, citrus fruits and chillies.

“The demand for organic and natural products is also on the rise in Singapore, creating openings for Zimbabwean exporters of organic teas, dried fruits, nuts, jams and sauces.

“Zimbabwean dried fruit, particularly mangoes, pineapples and bananas, could find a receptive market in Singapore, given the preference for high-quality dried products,” said ZimTrade in its latest monthly publication.

However, establishing a strong business network in Singapore, ZimTrade noted, is crucial for achieving long-term success.

By connecting with local business chambers and trade associations, Zimbabwean exporters can gain valuable insights into market trends and dynamics.

In addition, building relationships with key retailers, wholesalers and online platforms could help expand reach and access.

According to ZimTrade, engaging with local business chambers and trade associations, forming relationships with major retailers, wholesalers and online platforms, and participating in trade fairs and exhibitions could also help Zimbabwean exporters to expand their market access and establish a strong presence in Singapore.-chroncle