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2022
Flag → Flag
Exports $10.4BRnk 12 / 215
2022
Flag → Flag
Top Product $1.27BIntegrated Circuits
2022
Flag → Flag
Exports $11BRnk 7 / 218
2022
Flag → Flag
Top Product $2.23BIntegrated Circuits
2022
Flag
Economic Complexity (ECI) ECI 1.68Rnk 6 / 133
2022
Flag
Economic Complexity (ECI) ECI 0.96Rnk 29 / 133
2022
Flag  
GDP$467BCURRENT US$
Rnk 33 / 186
2012-2022
Flag
GDP GROWTH58.2%CURRENT US$
Rnk 42 / 186
2022
Flag
 GDP$495BCURRENT US$
Rnk 29 / 186
2012-2022
Flag
GDP GROWTH24.6%CURRENT US$
Rnk 111 / 186
2022
Flag
GDP PC $82,808CURRENT US$
Rnk 7 / 186
2012-2022
Flag
GDP PC GROWTH49.1%CURRENT US$
Rnk 37 / 186
2022
Flag
GDP PC$6,909CURRENT US$
Rnk 93 / 186
2012-2022
Flag
GDP PC GROWTH20.2%CURRENT US$
Rnk 87 / 186

About

Singapore-Thailand Trade: In 2022, Singapore exported $10.4B to Thailand. The main products that Singapore exported to Thailand were Integrated Circuits ($1.27B), Refined Petroleum ($1.07B), and Blank Audio Media ($979M). Over the past 5 years the exports of Singapore to Thailand have decreased at an annualized rate of 3.46%, from $12.4B in 2017 to $10.4B in 2022.

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

Thailand-Singapore Trade: In 2022, Thailand exported $11B to Singapore. The main products that Thailand exported to Singapore were Integrated Circuits ($2.23B), Refined Petroleum ($1.54B), and Gold ($1.34B). Over the past 5 years the exports of Thailand to Singapore have increased at an annualized rate of 3.4%,  from $9.02B in 2017 to $11B in 2022.

In 2020, Thailand exported services to Singapore worth $2.58B, with Other business services ($1.82B), Transportation ($316M), and Travel ($230M) 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, Thailand ranked 29 in the Economic Complexity Index (ECI 0.96), and 27 in total exports ($312B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Singapore exported $10.4B to Thailand. The main products exported from Singapore to Thailand were Integrated Circuits ($1.27B), Refined Petroleum ($1.07B), and Blank Audio Media ($979M). During the last 5 years the exports of Singapore to Thailand have decreased at an annualized rate of 3.46%, from $12.4B in 2017 to $10.4B in 2022.

In 2017, Thailand exported $11B to Singapore. The main products exported from Thailand to Singapore were Integrated Circuits ($2.23B), Refined Petroleum ($1.54B), and Gold ($1.34B). During the last 5 years the exports of Thailand to Singapore have increased at an annualized rate of 3.4%, from $9.02B in 2022 to $11B in 2017.

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

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

Latest Data

Trade between Singapore (Flag) and Thailand (Flag)

Singapore Exports

Thailand Exports

Market Competitiveness

Color
Singapore
Top DestinationHong Kong$51.6B
Thailand
Top DestinationUnited States$53.4B

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

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

In 2022, countries that imported more from Thailand than Singapore included United States ($53.4B), Japan ($24.6B), and Laos ($4.5B).

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

Comparative Advantage Singapore - Thailand

Flow
Scale

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

During 2022, Singapore had a large net trade with Thailand in the exports of Machines ($4.06B), Chemical Products ($1.57B), and Mineral Products ($1.17B).

During 2017, Thailand had a large net trade with Singapore in the exports of Machines ($4.92B), Mineral Products ($2.02B), and Precious Metals ($1.63B).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Singapore Thailand+$240MIntegrated Circuits
Top Product Potential Thailand Singapore+$176MComputers

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

In 2020, Thailand exported services to Singapore worth $2.58B, with Other business services ($1.82B), Transportation ($316M), and Travel ($230M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Thailand (Flag) to Singapore (Flag) (2020)

Service Trade

Economic Complexity

Competitive Landscape

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

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

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