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Last year, Taiwan became Singapore’s largest trading partner and source of imports for the first time. Approximately 85% of Taiwan’s exports to Singapore were semiconductor-related products, while about 80% of Singapore’s exports to Taiwan fell into the same category. In the first two months of 2025, Taiwan’s exports to Singapore grew by 56%, while Singapore’s semiconductor industry expanded by nearly 52%, demonstrating strong industrial linkage and mutual prosperity.

Singapore has become an increasingly important source of Taiwan’s overall trade surplus. In 2022, Taiwan’s surplus with Singapore accounted for more than 33% of Taiwan’s total trade surplus, and it remained close to 30% in 2024. Although the share was 17.5% in 2025, it rose again to 21.9% in January–February 2026, meaning that more than one-fifth of Taiwan’s total trade surplus now comes from Singapore.

Multiple assessments suggest that the erosion of public oversight and institutional effectiveness lies at the heart of Indonesia’s decline. Independent media outlets and civil society organizations have historically played a crucial role in uncovering abuses of power. When civic space contracts, oversight mechanisms weaken. Recent reports from Reporters Without Borders indicate that Indonesia’s press freedom ranking has also deteriorated, limiting the ability of journalists and watchdog groups to expose misconduct.