Singapore is better positioned than any other Asian country to cash in on an increasingly digital world, which should help protect it as trade takes hits from all directions, a new report says.
The Enabling Digitalization Index, compiled by trade credit insurer Euler Hermes, ranks countries on their level of "digitalization" - that is, how a country uses technology to digitize businesses and facilitate the cross-border flow of data. The index also takes into account a country's quality of digital connectedness, logistics performance and ease of doing business.
Singapore was ranked 6th out of the 135 countries in the index, released exclusively to CNBC, and was the only Asian country in the top 10. The top three were Germany, the Netherlands and Sweden. Japan placed 15th and China was 44th.
The report accompanying the index estimated that digitalization currently contributed 9.4 percent to the world's economic output.