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

About

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.

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.

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

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, 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 2018 to $13B in 2023.

In 2018, 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 2023 to $8.65B in 2018.

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

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

Latest Data

Trade between Thailand (Flag) and Singapore (Flag)

Thailand Exports

Singapore Exports

Market Competitiveness

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

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

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

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

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

Comparative Advantage Thailand - Singapore

Flow
Scale

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

During 2023, Thailand had a large net trade with Singapore in the exports of Machines ($5.97B), Precious Metals ($2.81B), and Mineral Products ($1.77B).

During 2018, Singapore had a large net trade with Thailand in the exports of Machines ($2.73B), Mineral Products ($1.55B), and Chemical Products ($1.36B).

Potential Exports

Potential Exports

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

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

Product Space of Thailand (Flag) and Singapore (Flag) (2023)

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