2021
Flag  
GDP
$1.81TCURRENT US$
Rnk 11 / 204
2011-2021
Flag
GDP GROWTH
44.5%CURRENT US$
Rnk 72 / 204
2021
Flag
 GDP
$424BCURRENT US$
Rnk 32 / 204
2011-2021
Flag
GDP GROWTH
51.7%CURRENT US$
Rnk 48 / 204
2021
Flag
GDP PC 
$34,998CURRENT US$
Rnk 38 / 204
2011-2021
Flag
GDP PC GROWTH
39.5%CURRENT US$
Rnk 51 / 204
2021
Flag
GDP PC
$77,710CURRENT US$
Rnk 9 / 204
2011-2021
Flag
GDP PC GROWTH
44.2%CURRENT US$
Rnk 40 / 204

About

South Korea-Singapore In 2021, South Korea exported $15.8B to Singapore. The main products that South Korea exported to Singapore are Integrated Circuits ($5.27B), Refined Petroleum ($4.34B), and Passenger and Cargo Ships ($1.03B). During the last 26 years the exports of South Korea to Singapore have increased at an annualized rate of 3.32%, from $6.75B in 1995 to $15.8B in 2021.

In 2005, South Korea exported services to Singapore worth $1.27B, with Transportation ($610M), Other business services ($361M), and Travel ($125M) being the largest in terms of value.

Singapore-South Korea In 2021, Singapore exported $12B to South Korea. The main products that Singapore exported to South Korea were Integrated Circuits ($2.55B), Photo Lab Equipment ($1.74B), and Machinery Having Individual Functions ($1.1B). During the last 26 years the exports of Singapore to South Korea have increased at an annualized rate of 5.76%, from $2.8B in 1995 to $12B in 2021.

In 2015, Singapore exported services to South Korea worth $1.85B, with Transportation ($1.03B), Other business services ($483M), and Insurance services ($171M) being the largest in terms of value.

Comparison In 2021,  South Korea ranked 4 in the Economic Complexity Index (ECI 1.82), and 5 in total exports ($653B). That same year, Singapore ranked 6 in the Economic Complexity Index (ECI 1.74), and 19 in total exports ($351B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2021, South Korea exported $15.8B to Singapore. The main products exported from South Korea to Singapore were Integrated Circuits ($5.27B), Refined Petroleum ($4.34B), and Passenger and Cargo Ships ($1.03B). During the last 26 years the exports of South Korea to Singapore have increased at an annualized rate of 3.32%, from $6.75B in 1995 to $15.8B in 2021.

In 2021, Singapore exported $12B to South Korea. The main products exported from Singapore to South Korea were Integrated Circuits ($2.55B), Photo Lab Equipment ($1.74B), and Machinery Having Individual Functions ($1.1B). During the last 26 years the exports of Singapore to South Korea have increased at an annualized rate of 5.76%, from $2.8B in 1995 to $12B in 2021.

Exports from South Korea (Flag) to Singapore (Flag) (2021)

Exports from Singapore (Flag) to South Korea (Flag) (2021)

Market Competitiveness

Color
South Korea
Top Destination
China$158B
Singapore
Top Destination
China$56.8B

This map shows whether countries import more from South Korea or Singapore. Each country is colored based on the difference in imports they receive from South Korea and Singapore or the difference in the growth in imports.

In 2021, countries that imported more from South Korea than Singapore were China ($158B), United States ($95.9B), and Vietnam ($56.5B).

In 2021, countries that imported more from Singapore than South Korea were Malaysia ($27.7B), Hong Kong ($54.5B), and Cambodia ($11.2B).

Difference in imports from Singapore (Flag) and South Korea (Flag) (2021)

Comparative Advantage South Korea - Singapore

Flow
Scale

This chart compares trade between South Korea and Singapore by product, considering products traded by both, South Korea and Singapore.

During 2021, South Korea had a large net trade with Singapore in the exports of Machines ($7.68B), Mineral Products ($4.61B), and Transportation ($1.2B).

During 2021, Singapore had a large net trade with South Korea in the exports of Machines ($5.51B), Instruments ($2.66B), and Chemical Products ($1.63B).

Service Trade

Bilateral Service Trade

In 2005, South Korea exported services to Singapore worth $1.27B, with Transportation ($610M), Other business services ($361M), and Travel ($125M) being the largest in terms of value.

In 2015, Singapore exported services to South Korea worth $1.85B, with Transportation ($1.03B), Other business services ($483M), and Insurance services ($171M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from South Korea (Flag) to Singapore (Flag) (2005)

Services Exports from Singapore (Flag) to South Korea (Flag) (2015)

Economic Complexity

Competitive Landscape

This visualization show the product space at the HS4 level colored from blue to yellow.  This mean that the more blue a dot/product is, the more South Korea has comparative advantage over Singapore. Similarly, the more yellow a dot/product is, the more Singapore has comparative advantage over South Korea.

Product Space of South Korea (Flag) and Singapore (Flag) (2021)

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