The logistics industry can be likened as the critical link between manufacturers' of goods and services to the end-consumer. More often than not, its contribution to the smooth flow of goods and services is taken for granted. Contrary to common perception, logistics is not just about the movement of physical goods. With increasing demands for sustainable logistics solutions, the industry has become more sophisticated. It is a knowledge-intensive industry that contributes 9.4% of Singapore's GDP and employs over 180,000 workers.
Singapore's logistics industry is well poised to capture the growth opportunities in Asia, especially South East Asia. The outlook for the industry globally, and in particular for the Asia Pacific region, remains strong, driven by the growing logistics outsourcing market. To meet these new demands for global supply chain management, Singapore logistics companies are looking beyond freight, warehousing and transportation to offer specialized logistics in niche sectors like marine, pharmaceuticals, chemicals and perishables.
Singapore is recognized as one of the world's leading logistics hub renowned for its world-class port infrastructure, efficient customs and excellent connectivity. Coupled with its strategic location, financial stability, well-established physical and IT infrastructure, Singapore has become the preferred logistics and supply chain management hub for leading players across industries such as aerospace, biomedical science, electronics and telecommunications. Today, 21 of the world's top 25 third-party logistics (3PLs) providers are based in Singapore. They include companies like Agility, DHL, FedEx, TNT, UPS, Nippon Express, NYK Logistics and Toll Logistics, just to name a few.