2022
Flag  
GDP
$467BCURRENT US$
Rnk 33 / 186
2012-2022
Flag
GDP GROWTH
58.2%CURRENT US$
Rnk 42 / 186
2022
Flag
 GDP
$1.68TCURRENT US$
Rnk 12 / 186
2012-2022
Flag
GDP GROWTH
8.3%CURRENT US$
Rnk 148 / 186
2022
Flag
GDP PC 
$82,808CURRENT US$
Rnk 7 / 186
2012-2022
Flag
GDP PC GROWTH
49.1%CURRENT US$
Rnk 37 / 186
2022
Flag
GDP PC
$64,491CURRENT US$
Rnk 11 / 186
2012-2022
Flag
GDP PC GROWTH
-5.23%CURRENT US$
Rnk 153 / 186

About

Singapore-Australia Trade: In 2022, Singapore exported $7.66B to Australia. The main products that Singapore exported to Australia were Refined Petroleum ($10.4B), Other Edible Preparations ($419M), and Computers ($402M). Over the past 5 years the exports of Singapore to Australia have increased at an annualized rate of 30.5%, from $2.03B in 2017 to $7.66B in 2022.

In 2015, Singapore exported services to Australia worth $3.13B, with Transportation ($2.71B), Insurance services ($245M), and Royalties and license fees ($122M) being the largest in terms of value.

Australia-Singapore Trade: In 2022, Australia exported $4.33B to Singapore. The main products that Australia exported to Singapore were Gold ($2.06B), Petroleum Gas ($1.81B), and Crude Petroleum ($1.52B). Over the past 5 years the exports of Australia to Singapore have increased at an annualized rate of 10.6%,  from $2.61B in 2017 to $4.33B in 2022.

In 2009, Australia exported services to Singapore worth $2.38B, with Other business services ($781M), Travel ($695M), and Transportation ($575M) being the largest in terms of value.

Comparison: In 2022,  Singapore ranked 6 in the Economic Complexity Index (ECI 1.68), and 21 in total exports ($379B). That same year, Australia ranked 78 in the Economic Complexity Index (ECI -0.24), and 16 in total exports ($424B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Singapore exported $7.66B to Australia. The main products exported from Singapore to Australia were Refined Petroleum ($10.4B), Other Edible Preparations ($419M), and Computers ($402M). During the last 5 years the exports of Singapore to Australia have increased at an annualized rate of 30.5%, from $2.03B in 2017 to $7.66B in 2022.

In 2017, Australia exported $4.33B to Singapore. The main products exported from Australia to Singapore were Gold ($2.06B), Petroleum Gas ($1.81B), and Crude Petroleum ($1.52B). During the last 22 years the exports of Australia to Singapore have increased at an annualized rate of 10.6%, from $2.61B in 1995 to $4.33B in 2017.

Exports from Singapore (Flag) to Australia (Flag) (2022)

Exports from Australia (Flag) to Singapore (Flag) (2022)

Latest Data

Trade between Singapore (Flag) and Australia (Flag)

Singapore Exports

Australia Exports

Market Competitiveness

Color
Singapore
Top Destination
Hong Kong$51.6B
Australia
Top Destination
China$123B

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

In 2022, countries that imported more from Singapore than Australia included Hong Kong ($51.6B), Malaysia ($35.9B), and United States ($28.9B).

In 2022, countries that imported more from Australia than Singapore included China ($123B), Japan ($80.1B), and South Korea ($41B).

Difference in imports from Australia (Flag) and Singapore (Flag) (2022)

Comparative Advantage Singapore - Australia

Flow
Scale

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

During 2022, Singapore had a large net trade with Australia in the exports of Mineral Products ($10.5B), Machines ($1.09B), and Chemical Products ($705M).

During 2017, Australia had a large net trade with Singapore in the exports of Mineral Products ($3.79B), Precious Metals ($2.21B), and Animal Products ($369M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Singapore Australia+$40.7MPackaged Medicaments
Top Product Potential Australia Singapore+$74.6MPetroleum Gas

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 Singapore and Australia. This means that a dot/product with the flag of Singapore indicates it has a comparative advantage over Australia. Similarly, a dot/product with the flag of Australia indicates it has a comparative advantage over Singapore.

Product Space of Singapore (Flag) and Australia (Flag) (2022)

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