2022
Flag  
GDP
$467BCURRENT US$
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2012-2022
Flag
GDP GROWTH
58.2%CURRENT US$
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2022
Flag
 GDP
$1.4TCURRENT US$
Rnk 15 / 186
2012-2022
Flag
GDP GROWTH
5.49%CURRENT US$
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2022
Flag
GDP PC 
$82,808CURRENT US$
Rnk 7 / 186
2012-2022
Flag
GDP PC GROWTH
49.1%CURRENT US$
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2022
Flag
GDP PC
$29,350CURRENT US$
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2012-2022
Flag
GDP PC GROWTH
3.63%CURRENT US$
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About

Singapore-Spain Trade: In 2022, Singapore exported $596M to Spain. The main products that Singapore exported to Spain were Gas Turbines ($94.1M), Packaged Medicaments ($84.3M), and Planes, Helicopters, and/or Spacecraft ($49.3M). Over the past 5 years the exports of Singapore to Spain have increased at an annualized rate of 8.79%, from $391M in 2017 to $596M in 2022.

In 2022, Singapore did not export any services to Spain.

Spain-Singapore Trade: In 2022, Spain exported $1.83B to Singapore. The main products that Spain exported to Singapore were N/A. Over the past 5 years the exports of Spain to Singapore have increased at an annualized rate of 21.7%,  from $688M in 2017 to $1.83B in 2022.

In 2009, Spain exported services to Singapore worth $313M, with Services not allocated ($225M) and Transportation ($87.9M) 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, Spain ranked 33 in the Economic Complexity Index (ECI 0.81), and 20 in total exports ($394B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Singapore exported $596M to Spain. The main products exported from Singapore to Spain were Gas Turbines ($94.1M), Packaged Medicaments ($84.3M), and Planes, Helicopters, and/or Spacecraft ($49.3M). During the last 5 years the exports of Singapore to Spain have increased at an annualized rate of 8.79%, from $391M in 2017 to $596M in 2022.

In 2017, Spain exported $1.83B to Singapore. There were not main exports from Spain to Singapore in 2017. During the last 5 years the exports of Spain to Singapore have increased at an annualized rate of 21.7%, from $688M in 2022 to $1.83B in 2017.

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

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

Latest Data

Trade between Singapore (Flag) and Spain (Flag)

Singapore Exports

Spain Exports

Market Competitiveness

Color
Singapore
Top Destination
Hong Kong$51.6B
Spain
Top Destination
France$65.2B

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

In 2022, countries that imported more from Singapore than Spain included Hong Kong ($51.6B), China ($51.2B), and Malaysia ($35.9B).

In 2022, countries that imported more from Spain than Singapore included France ($65.2B), Portugal ($34.9B), and Germany ($39.2B).

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

Comparative Advantage Singapore - Spain

Flow
Scale

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

During 2022, Singapore had a large net trade with Spain in the exports of Chemical Products ($213M), Machines ($178M), and Instruments ($69M).

During 2017, Spain had a large net trade with Singapore in the exports of Chemical Products ($847M), Mineral Products ($240M), and Transportation ($230M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Singapore Spain+$60.1MPackaged Medicaments
Top Product Potential Spain Singapore+$148MRefined Petroleum

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

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

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