United States (USA) and Singapore (SGP) Trade | The Observatory of Economic Complexity

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United States (USA) and Singapore (SGP) Trade

2021

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Exports $32.5BRnk 12 / 217

2021

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About

United States-Singapore In 2021, United States exported $32.5B to Singapore. The main products that United States exported to Singapore are Crude Petroleum ($2.91B), Gas Turbines ($2.85B), and Integrated Circuits ($1.34B). During the last 26 years the exports of United States to Singapore have increased at an annualized rate of 2.8%, from $15.9B in 1995 to $32.5B in 2021.

In 2017, United States exported services to Singapore worth $21.6B, with Other business services ($12.5B), Royalties and license fees ($2.98B), and Financial services ($2.9B) being the largest in terms of value.

Singapore-United States In 2021, Singapore exported $28.1B to United States. The main products that Singapore exported to United States were Other Edible Preparations ($3.36B), Vaccines, blood, antisera, toxins and cultures ($2.82B), and Packaged Medicaments ($1.98B). During the last 26 years the exports of Singapore to United States have increased at an annualized rate of 1.5%, from $19.1B in 1995 to $28.1B in 2021.

In 2015, Singapore exported services to United States worth $13.2B, with Transportation ($6.93B), Other business services ($5.87B), and Insurance services ($156M) being the largest in terms of value.

Comparison In 2021, United States ranked 10 in the Economic Complexity Index (ECI 1.46), and 2 in total exports ($1.63T). That same year, Singapore ranked 6 in the Economic Complexity Index (ECI 1.74), and 19 in total exports ($351B).

Latest Trends

September, 2023

About

Overview In September 2023, United States exported $4.11B and imported $3.24B from Singapore, resulting in a positive trade balance of $860M. Between September 2022 and September 2023 the exports of United States have decreased by $-527M (-11.4%) from $4.63B to $4.11B, while imports increased by $901M (38.4%) from $2.34B to $3.24B.

Trade In September 2023, the top exports of United States to Singapore were Crude Petroleum ($846M), Aircraft Parts ($311M), Machines and apparatus of a kind... ($223M), Petroleum Gas ($188M), and Commodities not elsewhere specified ($125M). In September 2023 the top imports of United States from Singapore were Other Edible Preparations ($477M), Commodities not elsewhere specified ($289M), Machines and apparatus of a kind... ($160M), Refined Petroleum ($156M), and Hormones ($145M).

Origins In September 2023 the exports of United States were mainly from Texas ($1.17B), South Carolina ($405M), California ($391M), New York ($273M), and Georgia ($217M), while imports destinations were mainly Kentucky ($759M), North Carolina ($519M), California ($431M), Georgia ($189M), and Texas ($175M).

Growth In September 2023, the decrease in United States's year-by-year exports to Singapore was explained primarily by an decrease in product exports in Medical Instruments ($-28.3M or -30.7%), Gas Turbines ($-21.7M or -29.5%), and Ethylene Polymers ($-11M or -27.8%). In September 2023, the increase in United States's year-by-year imports from Singapore was explained primarily by an increase in product imports in Other Edible Preparations ($133M or 38.8%), Machines and apparatus of a kind... ($113M or 237%), and Commodities not elsewhere specified ($65.9M or 29.5%).

Latest Trade

Flow

Exports

Imports

Time Scale

Year

Quarter

Month

Depth

HS2

HS4

HS6

Value

Trade Value

Growth

Growth (%)

EXPORT GROWTH (September 2022 - September 2023)$-527M(-11.4%)

IMPORT GROWTH (September 2022 - September 2023)$901M(38.4%)

MAIN EXPORTER (September 2023)Texas$1.17B

This section shows exports and imports data at subnational level for United States. Click any date in the line plot, any subnational region in the geomap or any product to explore the exports or imports behavior of United States over time.

To check Singapore and United States trade dynamics, check the bilateral page.

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Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2021, United States exported $32.5B to Singapore. The main products exported from United States to Singapore were Crude Petroleum ($2.91B), Gas Turbines ($2.85B), and Integrated Circuits ($1.34B). During the last 26 years the exports of United States to Singapore have increased at an annualized rate of 2.8%, from $15.9B in 1995 to $32.5B in 2021.

In 2021, Singapore exported $28.1B to United States. The main products exported from Singapore to United States were Other Edible Preparations ($3.36B), Vaccines, blood, antisera, toxins and cultures ($2.82B), and Packaged Medicaments ($1.98B). During the last 26 years the exports of Singapore to United States have increased at an annualized rate of 1.5%, from $19.1B in 1995 to $28.1B in 2021.

Exports from United States () to Singapore () (2021)

Exports from Singapore () to United States () (2021)

Market Competitiveness

Color

Exports

Export Growth

Section

Year

United States
Top DestinationCanada$259B

Singapore
Top DestinationChina$56.8B

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

In 2021, countries that imported more from United States than Singapore were Canada ($259B), Mexico ($247B), and China ($151B).

In 2021, countries that imported more from Singapore than United States were Hong Kong ($54.5B), Malaysia ($27.7B), and Cambodia ($11.2B).

Difference in imports from Singapore () and United States () (2021)

Comparative Advantage United States - Singapore

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2021, United States had a large net trade with Singapore in the exports of Machines ($11.5B), Mineral Products ($4.83B), and Instruments ($4.37B).

During 2021, Singapore had a large net trade with United States in the exports of Machines ($8.86B), Chemical Products ($7.54B), and Instruments ($4.66B).

Service Trade

Bilateral Service Trade

Sgp Year

Usa Year

In 2015, Singapore exported services to United States worth $13.2B, with Transportation ($6.93B), Other business services ($5.87B), and Insurance services ($156M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from United States () to Singapore () (2017)

Services Exports from Singapore () to United States () (2015)

Economic Complexity

Competitive Landscape

Year

This visualization show the product space at the HS4 level colored from blue to yellow. This mean that the more blue a dot/product is, the more United States has comparative advantage over Singapore. Similarly, the more yellow a dot/product is, the more Singapore has comparative advantage over United States.

Product Space of United States () and Singapore () (2021)

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