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2023
Flag → Flag
Exports $8.65BRnk 12 / 217
2023
Flag → Flag
Top Product $1.19BRefined Petroleum
2023
Flag → Flag
Exports $13BRnk 5 / 216
2023
Flag → Flag
Top Product $2.7BIntegrated Circuits
2023
Flag
Economic Complexity (ECI) ECI 1.62Rnk 6 / 132
2023
Flag
Economic Complexity (ECI) ECI 0.96Rnk 29 / 132
2023
Flag  
GDP$501BCURRENT US$
Rnk 30 / 195
2013-2023
Flag
GDP GROWTH63%CURRENT US$
Rnk 47 / 195
2023
Flag
 GDP$515BCURRENT US$
Rnk 26 / 195
2013-2023
Flag
GDP GROWTH22.5%CURRENT US$
Rnk 133 / 195
2023
Flag
GDP PC $84,734CURRENT US$
Rnk 8 / 195
2013-2023
Flag
GDP PC GROWTH48.7%CURRENT US$
Rnk 50 / 195
2023
Flag
GDP PC$7,182CURRENT US$
Rnk 102 / 196
2013-2023
Flag
GDP PC GROWTH19.3%CURRENT US$
Rnk 103 / 195

About

Singapore-Thailand Trade: In 2023, Singapore exported $8.65B to Thailand. The main products that Singapore exported to Thailand were Refined Petroleum ($1.19B), Blank Audio Media ($936M), and Integrated Circuits ($806M). Over the past 5 years the exports of Singapore to Thailand have increased at an annualized rate of 0.21%, from $8.56B in 2018 to $8.65B in 2023.

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

Thailand-Singapore Trade: In 2023, Thailand exported $13B to Singapore. The main products that Thailand exported to Singapore were Integrated Circuits ($2.7B), Gold ($2.48B), and Refined Petroleum ($1.51B). Over the past 5 years the exports of Thailand to Singapore have increased at an annualized rate of 6.52%,  from $9.49B in 2018 to $13B in 2023.

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 2023,  Singapore ranked 6 in the Economic Complexity Index (ECI 1.62), and 24 in total exports ($333B). That same year, Thailand ranked 29 in the Economic Complexity Index (ECI 0.96), and 25 in total exports ($332B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Singapore exported $8.65B to Thailand. The main products exported from Singapore to Thailand were Refined Petroleum ($1.19B), Blank Audio Media ($936M), and Integrated Circuits ($806M). During the last 5 years the exports of Singapore to Thailand have increased at an annualized rate of 0.21%, from $8.56B in 2018 to $8.65B in 2023.

In 2018, Thailand exported $13B to Singapore. The main products exported from Thailand to Singapore were Integrated Circuits ($2.7B), Gold ($2.48B), and Refined Petroleum ($1.51B). During the last 5 years the exports of Thailand to Singapore have increased at an annualized rate of 6.52%, from $9.49B in 2023 to $13B in 2018.

Exports from Singapore (Flag) to Thailand (Flag) (2023)

Exports from Thailand (Flag) to Singapore (Flag) (2023)

Latest Data

Trade between Singapore (Flag) and Thailand (Flag)

Singapore Exports

Thailand Exports

Market Competitiveness

Color
Singapore
Top DestinationHong Kong$44.5B
Thailand
Top DestinationUnited States$58.5B

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 2023, countries that imported more from Singapore than Thailand included Hong Kong ($44.5B), Malaysia ($31.4B), and South Korea ($20.1B).

In 2023, countries that imported more from Thailand than Singapore included United States ($58.5B), Japan ($24.9B), and China ($44.1B).

Difference in imports from Thailand (Flag) and Singapore (Flag) (2023)

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 2023, Singapore had a large net trade with Thailand in the exports of Machines ($2.73B), Mineral Products ($1.55B), and Chemical Products ($1.36B).

During 2018, Thailand had a large net trade with Singapore in the exports of Machines ($5.97B), Precious Metals ($2.81B), and Mineral Products ($1.77B).

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) (2023)

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