Flag South Korea / Singapore Flag

2020
FlagFlag
Exports
: $11B, Rnk 9 / 218

2020
FlagFlag
Top Product
: $3.61B, Integrated Circuits

2020
FlagFlag
Exports
: $9.66B, Rnk 9 / 212

2020
FlagFlag
Top Product
: $2.83B, Integrated Circuits

2020
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Economic Complexity (ECI)
: ECI 1.88, Rnk 5 / 127

2020
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Economic Complexity (ECI)
: ECI 1.84, Rnk 6 / 127

2020
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GDP
: $1.64T, CURRENT US$
Rnk 10 / 195

2010-2020
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GDP GROWTH
: 43.2%, CURRENT US$
Rnk 69 / 195

2020
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 GDP
: $340B, CURRENT US$
Rnk 36 / 195

2010-2020
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GDP GROWTH
: 41.8%, CURRENT US$
Rnk 72 / 195

2020
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GDP PC 
: $31,631, CURRENT US$
Rnk 32 / 195

2010-2020
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GDP PC GROWTH
: 37%, CURRENT US$
Rnk 45 / 195

2020
Flag
GDP PC
: $59,798, CURRENT US$
Rnk 10 / 195

2010-2020
Flag
GDP PC GROWTH
: 26.6%, CURRENT US$
Rnk 73 / 195

South Korea-Singapore In 2020, South Korea exported $11B to Singapore. The main products that South Korea exported to Singapore are Integrated Circuits ($3.61B), Refined Petroleum ($1.91B), and Passenger and Cargo Ships ($1.23B). During the last 25 years the exports of South Korea to Singapore have increased at an annualized rate of 1.99%, from $6.74B in 1995 to $11B in 2020.

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 2020, Singapore exported $9.66B to South Korea. The main products that Singapore exported to South Korea were Integrated Circuits ($2.83B), Photo Lab Equipment ($902M), and Machinery Having Individual Functions ($796M). During the last 25 years the exports of Singapore to South Korea have increased at an annualized rate of 5.09%, from $2.79B in 1995 to $9.66B in 2020.

In 2017, Singapore exported services to South Korea worth $1.63B, with Transportation ($975M), Other business services ($402M), and Insurance services ($178M) being the largest in terms of value.

Comparison In 2020,  South Korea ranked 5 in the Economic Complexity Index (ECI 1.88), and 5 in total exports ($531B). That same year, Singapore ranked 6 in the Economic Complexity Index (ECI 1.84), and 19 in total exports ($281B).

Historical Data

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Bilateral Trade by Products

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Depth
Value

In 2020, South Korea exported $11B to Singapore. The main products exported from South Korea to Singapore were Integrated Circuits ($3.61B), Refined Petroleum ($1.91B), and Passenger and Cargo Ships ($1.23B). During the last 25 years the exports of South Korea to Singapore have increased at an annualized rate of 1.99%, from $6.74B in 1995 to $11B in 2020.

In 2020, Singapore exported $9.66B to South Korea. The main products exported from Singapore to South Korea were Integrated Circuits ($2.83B), Photo Lab Equipment ($902M), and Machinery Having Individual Functions ($796M). During the last 25 years the exports of Singapore to South Korea have increased at an annualized rate of 5.09%, from $2.79B in 1995 to $9.66B in 2020.

Market Competitiveness

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Measure

South Korea
Top Destination
: China, $131B

Singapore
Top Destination
: China, $42.9B

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 2019, countries that imported more from South Korea than Singapore were China ($131B), United States ($75B), and Vietnam ($48B).

In 2019, countries that imported more from Singapore than South Korea were Malaysia ($22.9B), Hong Kong ($41.7B), and Indonesia ($14.8B).

Comparative Advantage South Korea - Singapore

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Flow

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

During 2020, South Korea had a large net trade with Singapore in the exports of Machines ($5.56B), Mineral Products ($2.06B), and Transportation ($1.31B).

During 2020, Singapore had a large net trade with South Korea in the exports of Machines ($4.94B), Instruments ($1.85B), and Chemical Products ($1.46B).

Bilateral Service Trade

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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 2017, Singapore exported services to South Korea worth $1.63B, with Transportation ($975M), Other business services ($402M), and Insurance services ($178M) being the largest in terms of value.

Service trade data is presented based on availability.

Economic Complexity

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Competitive Landscape

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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.