section_path: Industry sectors
section_name: Industry sectors
paragraph_text: Industry sectors
  
  Singapore is the world's 3rd-largest foreign exchange centre, 6th-largest financial centre, 2nd-largest casino gambling market, 3rd-largest oil-refining and trading centre, largest oil-rig producer and hub for ship repair services, and largest logistics hub. The economy is diversified, with its top contributors being financial services, manufacturing, and oil-refining. Its main exports are refined petroleum, integrated circuits, and computers, which constituted 27% of the country's GDP in 2010. Other significant sectors include electronics, chemicals, mechanical engineering, and biomedical sciences. Singapore was ranked 5th in the Global Innovation Index in 2023 and 7th in 2022. In 2019, there were more than 60 semiconductor companies in Singapore, which together constituted 11% of the global market share. The semiconductor industry alone contributes around 7% of Singapore's GDP.
  
  Singapore's largest companies are in the telecommunications, banking, transportation, and manufacturing sectors, many of which started as state-run statutory corporations and have since been publicly listed on the Singapore Exchange. Such companies include Singapore Telecommunications (Singtel), Singapore Technologies Engineering, Keppel Corporation, Oversea-Chinese Banking Corporation (OCBC), Development Bank of Singapore (DBS), and United Overseas Bank (UOB). In 2011, amidst the global financial crisis, OCBC, DBS and UOB were ranked by Bloomberg Businessweek as the world's 1st, 5th, and 6th strongest banks in the world, respectively. It is home to the headquarters of 3 Fortune Global 500 companies, the highest in the region.
  
  The nation's best known global companies include Singapore Airlines, Changi Airport, and the Port of Singapore, all of which are among the most-awarded in their respective fields. Singapore Airlines was ranked as Asia's most-admired company, and the world's 19th most-admired company in 2015 by Fortune ' s annual "50 most admired companies in the world" industry surveys. Other awards it has received include the US-based Travel + Leisure ' s Best International Airline award, which it has won for 20 consecutive years. Changi Airport connects over 100 airlines to more than 300 cities. The strategic international air hub has more than 480 World's Best Airport awards as of 2015, and is known as the most-awarded airport in the world. Over ten free-trade agreements have been signed with other countries and regions. Singapore is the second-largest foreign investor in India. It is the 14th largest exporter and the 15th largest importer in the world.