Singapore (SGP) and Finland (FIN) Trade | The Observatory of Economic Complexity

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Singapore-Finland Trade: In 2023, Singapore exported $537M to Finland. The main products that Singapore exported to Finland were Planes, Helicopters, and/or Spacecraft ($225M), Refined Petroleum ($164M), and Broadcasting Equipment ($21.9M). Over the past 5 years the exports of Singapore to Finland have increased at an annualized rate of 21.9%, from $199M in 2018 to $537M in 2023.

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

Finland-Singapore Trade: In 2023, Finland exported $365M to Singapore. The main products that Finland exported to Singapore were Sulfate Chemical Woodpulp ($23.5M), Papermaking Machines ($21.6M), and Enzymes ($19.7M). Over the past 5 years the exports of Finland to Singapore have increased at an annualized rate of 5.26%, from $283M in 2018 to $365M in 2023.

In 2020, Finland exported services to Singapore worth $456M, with Transportation ($235M), Computer and information services ($110M), and Other business services ($84.5M) being the largest in terms of value.

Comparison: In 2023, Singapore ranked 6 in the Economic Complexity Index (ECI 1.62), and 24 in total exports ($333B). That same year, Finland ranked 13 in the Economic Complexity Index (ECI 1.46), and 45 in total exports ($84.3B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, Singapore exported $537M to Finland. The main products exported from Singapore to Finland were Planes, Helicopters, and/or Spacecraft ($225M), Refined Petroleum ($164M), and Broadcasting Equipment ($21.9M). During the last 5 years the exports of Singapore to Finland have increased at an annualized rate of 21.9%, from $199M in 2018 to $537M in 2023.

In 2018, Finland exported $365M to Singapore. The main products exported from Finland to Singapore were Sulfate Chemical Woodpulp ($23.5M), Papermaking Machines ($21.6M), and Enzymes ($19.7M). During the last 5 years the exports of Finland to Singapore have increased at an annualized rate of 5.26%, from $283M in 2023 to $365M in 2018.

Exports from Singapore () to Finland () (2023)

Exports from Finland () to Singapore () (2023)

Latest Data

Trade between Singapore () and Finland ()

Singapore Exports

Date

Finland Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Singapore
Top DestinationHong Kong$44.5B

Finland
Top DestinationUnited States$9.68B

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

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

In 2023, countries that imported more from Finland than Singapore included Sweden ($8.13B), Germany ($9.26B), and Estonia ($2.4B).

Difference in imports from Finland () and Singapore () (2023)

Comparative Advantage Singapore - Finland

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Singapore had a large net trade with Finland in the exports of Transportation ($226M), Mineral Products ($164M), and Machines ($74.1M).

During 2018, Finland had a large net trade with Singapore in the exports of Machines ($160M), Chemical Products ($52.2M), and Paper Goods ($42.2M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Singapore Finland+$71.2MRefined Petroleum

Top Product Potential Finland Singapore+$13.7MRefined 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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Bilateral Service Trade

Fin Year

In 2020, Finland exported services to Singapore worth $456M, with Transportation ($235M), Computer and information services ($110M), and Other business services ($84.5M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Finland () to Singapore () (2020)

Service Trade

Economic Complexity

Competitive Landscape

Year

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

About

Historical Data

Bilateral Trade by Products

Exports from Singapore () to Finland () (2023)

Exports from Finland () to Singapore () (2023)

Latest Data

Trade between Singapore () and Finland ()

Singapore Exports

Finland Exports

Market Competitiveness

Difference in imports from Finland () and Singapore () (2023)

Comparative Advantage Singapore - Finland

Potential Exports

Potential Exports

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Bilateral Service Trade

Services Exports from Finland () to Singapore () (2020)

Service Trade

Economic Complexity

Competitive Landscape

Product Space of Singapore () and Finland () (2023)

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