The digital economies of Australia and Singapore have been growing rapidly as both countries increasingly adopt digital technologies to expand various industry sectors. The two countries already enjoy a strong trading relationship but, as this report highlights, there is significant scope to further increase and accelerate overall trade between the two economies through harnessing their national digitalisation efforts. Greater use of new and emerging technologies is not only creating trade opportunities in digital goods and services, it is also increasing the trade in physical goods and services that can be delivered digitally or otherwise enhanced through digital enablers.
As such in this report, we define digital trade to be more than just e-commerce, encompassing the digitalisation of all aspects of trade including:
- digital goods and services
- digital delivery of tangible goods and services
- digital enablers of trade, and
- emerging technologies that have the potential to significantly transform trade in terms of speed, scale, and scope