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2023
Flag → Flag
Exports $447MRnk 32 / 205
2023
Flag → Flag
Top Product $72.1MNon-fillet Fresh Fish
2023
Flag → Flag
Exports $886MRnk 34 / 217
2023
Flag → Flag
Top Product $473MPassenger and Cargo Ships
2023
Flag
Economic Complexity (ECI) ECI 0.47Rnk 44 / 132
2023
Flag
Economic Complexity (ECI) ECI 1.62Rnk 6 / 132
2023
Flag  
GDP$485BCURRENT US$
Rnk 31 / 195
2013-2023
Flag
GDP GROWTH-7.74%CURRENT US$
Rnk 180 / 195
2023
Flag
 GDP$501BCURRENT US$
Rnk 30 / 195
2013-2023
Flag
GDP GROWTH63%CURRENT US$
Rnk 47 / 195
2023
Flag
GDP PC $87,925CURRENT US$
Rnk 7 / 195
2013-2023
Flag
GDP PC GROWTH-15.1%CURRENT US$
Rnk 171 / 195
2023
Flag
GDP PC$84,734CURRENT US$
Rnk 8 / 196
2013-2023
Flag
GDP PC GROWTH48.7%CURRENT US$
Rnk 50 / 195

About

Norway-Singapore Trade: In 2023, Norway exported $447M to Singapore. The main products that Norway exported to Singapore were Non-fillet Fresh Fish ($72.1M), Liquid Pumps ($47.4M), and Excavation Machinery ($19.5M). Over the past 5 years the exports of Norway to Singapore have decreased at an annualized rate of 6.99%, from $643M in 2018 to $447M in 2023.

In 2023, Norway did not export any services to Singapore.

Singapore-Norway Trade: In 2023, Singapore exported $886M to Norway. The main products that Singapore exported to Norway were Passenger and Cargo Ships ($473M), Nickel Mattes ($73.1M), and Nucleic Acids ($45.1M). Over the past 5 years the exports of Singapore to Norway have increased at an annualized rate of 11.6%,  from $412M in 2018 to $886M in 2023.

In 2023, Singapore did not export any services to Norway.

Comparison: In 2023,  Norway ranked 44 in the Economic Complexity Index (ECI 0.47), and 33 in total exports ($187B). That same year, Singapore ranked 6 in the Economic Complexity Index (ECI 1.62), and 24 in total exports ($333B).

Latest Trends

December, 2024

About

Overview In December 2024, Norway exported NOK400M and imported NOK587M from Singapore, resulting in a negative trade balance of NOK187M. Between December 2023 and December 2024 the exports of Norway have increased by NOK25.6M (6.83%) from NOK375M to NOK400M, while imports increased by NOK314M (115%) from NOK274M to NOK587M.

Trade In December 2024, the top exports of Norway to Singapore were Fish (not marine mammals), crustaceans, molluscs... (NOK81.4M), General industrial machinery and equipment, n.e.s.,... (NOK55.1M), Electrical machinery, apparatus and appliances, n.e.s.,... (NOK37.3M), Professional, scientific and controlling instruments and... (NOK33.6M), and Machinery specialized for particular industries (NOK26.1M). In December 2024 the top imports of Norway from Singapore were Other transport equipment (NOK3.57B), Organic chemicals (NOK201M), Professional, scientific and controlling instruments and... (NOK56.5M), Machinery specialized for particular industries (NOK48.3M), and Medicinal and pharmaceutical products (NOK36.5M).

Growth In December 2024, the increase in Norway's year-by-year exports to Singapore was explained primarily by an increase in product exports in General industrial machinery and equipment, n.e.s.,... (NOK27.9M or 102%), Machinery specialized for particular industries (NOK22.3M or 583%), and Electrical machinery, apparatus and appliances, n.e.s.,... (NOK18.1M or 94.4%). In December 2024, the increase in Norway's year-by-year imports  from Singapore was explained primarily by an increase in product imports  in Organic chemicals (NOK201M or 10.1M%), Professional, scientific and controlling instruments and... (NOK40.4M or 249%), and Medicinal and pharmaceutical products (NOK30.1M or 469%).

Latest Trade

Time Scale
Flow
Value
EXPORT GROWTH (December 2023 - December 2024)NOK25.6M(6.83%)
IMPORT GROWTH (December 2023 - December 2024)NOK314M(115%)

This section shows exports and imports data at subnational level for Norway. Click any date in the line plot or any product to explore the exports or imports behavior of Norway over time.

To check Singapore and Norway trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore Singapore and Norway Data

Go to Bulk Download

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Norway exported $447M to Singapore. The main products exported from Norway to Singapore were Non-fillet Fresh Fish ($72.1M), Liquid Pumps ($47.4M), and Excavation Machinery ($19.5M). During the last 5 years the exports of Norway to Singapore have decreased at an annualized rate of 6.99%, from $643M in 2018 to $447M in 2023.

In 2018, Singapore exported $886M to Norway. The main products exported from Singapore to Norway were Passenger and Cargo Ships ($473M), Nickel Mattes ($73.1M), and Nucleic Acids ($45.1M). During the last 5 years the exports of Singapore to Norway have increased at an annualized rate of 11.6%, from $412M in 2023 to $886M in 2018.

Exports from Norway (Flag) to Singapore (Flag) (2023)

Exports from Singapore (Flag) to Norway (Flag) (2023)

Market Competitiveness

Color
Norway
Top DestinationGermany$33.8B
Singapore
Top DestinationHong Kong$44.5B

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

In 2023, countries that imported more from Norway than Singapore included United Kingdom ($32.6B), Germany ($33.8B), and Sweden ($15.9B).

In 2023, countries that imported more from Singapore than Norway included Hong Kong ($44.5B), China ($36.7B), and Malaysia ($31.4B).

Difference in imports from Singapore (Flag) and Norway (Flag) (2023)

Comparative Advantage Norway - Singapore

Flow
Scale

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

During 2023, Norway had a large net trade with Singapore in the exports of Machines ($196M), Animal Products ($92.9M), and Metals ($44.3M).

During 2018, Singapore had a large net trade with Norway in the exports of Transportation ($473M), Machines ($158M), and Metals ($107M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Norway Singapore+$37.5MRefined Petroleum
Top Product Potential Singapore Norway+$7.71MPackaged Medicaments

We estimate the export potential of an economy for each product and destination using an extension of the bilateral relatedness model of Jun et al. (2019).This extended gravity model considers similarities among products and geographies and explains more than 50% of the variance in future trade flows.

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Economic Complexity

Competitive Landscape

This visualization shows the product space at the HS4 level with the flags of Norway and Singapore. This means that a dot/product with the flag of Norway indicates it has a comparative advantage over Singapore. Similarly, a dot/product with the flag of Singapore indicates it has a comparative advantage over Norway.

Product Space of Norway (Flag) and Singapore (Flag) (2023)

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