Singapore (SGP) and Russia (RUS) Trade | The Observatory of Economic Complexity

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Singapore-Russia Trade: In 2023, Singapore exported $137M to Russia. The main products that Singapore exported to Russia were Refined Petroleum ($23.5M), Engine Parts ($15.1M), and Other Electrical Machinery ($14M). Over the past 5 years the exports of Singapore to Russia have decreased at an annualized rate of 30.9%, from $869M in 2018 to $137M in 2023.

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

Russia-Singapore Trade: In 2023, Russia exported $3.55B to Singapore. The main products that Russia exported to Singapore were Refined Petroleum ($3.26B), Crude Petroleum ($126M), and Raw Nickel ($62.2M). Over the past 5 years the exports of Russia to Singapore have decreased at an annualized rate of 7.42%, from $5.21B in 2018 to $3.55B in 2023.

In 2020, Russia exported services to Singapore worth $609M, with Transportation ($283M), Other business services ($137M), and Computer and information services ($72.8M) 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, Russia ranked 50 in the Economic Complexity Index (ECI 0.3), and 18 in total exports ($394B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, Singapore exported $137M to Russia. The main products exported from Singapore to Russia were Refined Petroleum ($23.5M), Engine Parts ($15.1M), and Other Electrical Machinery ($14M). During the last 5 years the exports of Singapore to Russia have decreased at an annualized rate of 30.9%, from $869M in 2018 to $137M in 2023.

In 2018, Russia exported $3.55B to Singapore. The main products exported from Russia to Singapore were Refined Petroleum ($3.26B), Crude Petroleum ($126M), and Raw Nickel ($62.2M). During the last 5 years the exports of Russia to Singapore have decreased at an annualized rate of 7.42%, from $5.21B in 2023 to $3.55B in 2018.

Exports from Singapore () to Russia () (2023)

Exports from Russia () to Singapore () (2023)

Latest Data

Trade between Singapore () and Russia ()

Singapore Exports

Date

Russia Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Singapore
Top DestinationHong Kong$44.5B

Russia
Top DestinationChina$129B

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

In 2023, countries that imported more from Singapore than Russia included Hong Kong ($44.5B), Malaysia ($31.4B), and United States ($32.9B).

In 2023, countries that imported more from Russia than Singapore included China ($129B), India ($66.1B), and Turkey ($31B).

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

Comparative Advantage Singapore - Russia

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Singapore had a large net trade with Russia in the exports of Machines ($53M), Mineral Products ($23.5M), and Instruments ($22.7M).

During 2018, Russia had a large net trade with Singapore in the exports of Mineral Products ($3.43B), Metals ($69.8M), and Machines ($13.3M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Singapore Russia+$31.2MRefined Petroleum

Top Product Potential Russia Singapore+N/AN/A

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

Rus Year

In 2020, Russia exported services to Singapore worth $609M, with Transportation ($283M), Other business services ($137M), and Computer and information services ($72.8M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Russia () 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 Russia. This means that a dot/product with the flag of Singapore indicates it has a comparative advantage over Russia. Similarly, a dot/product with the flag of Russia indicates it has a comparative advantage over Singapore.

About

Historical Data

Bilateral Trade by Products

Exports from Singapore () to Russia () (2023)

Exports from Russia () to Singapore () (2023)

Latest Data

Trade between Singapore () and Russia ()

Singapore Exports

Russia Exports

Market Competitiveness

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

Comparative Advantage Singapore - Russia

Potential Exports

Potential Exports

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Bilateral Service Trade

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

Service Trade

Economic Complexity

Competitive Landscape

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

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