2023
Exports
$34.8MWorld Rnk 36 / 150
Flag Rnk 337 / 1202
2023
PRODUCT COMPLEXITY IN Inedible Fats and Oils
-0.38Rnk 663 / 1025
2023
Imports
$1.42BWorld Rnk 3 / 183
Flag Rnk 44 / 1208
2023
ECONOMIC COMPLEXITY of Singapore
1.62Rnk 6 / 132

About

Exports In 2023, Singapore exported $34.8M in Inedible Fats and Oils, making it the 36th largest exporter of Inedible Fats and Oils in the world. At the same year, Inedible Fats and Oils was the 337th most exported product in Singapore. The main destination of Inedible Fats and Oils exports from Singapore are: Malaysia ($20.1M), Spain ($6.03M), Netherlands ($4.64M), United Kingdom ($1.5M), and Thailand ($1.41M).

The fastest growing export markets for Inedible Fats and Oils of Singapore between 2022 and 2023 were Spain ($2.89M), Thailand ($1.39M), and China ($224k).

Imports In 2023, Singapore imported $1.42B in Inedible Fats and Oils, becoming the 3rd largest importer of Inedible Fats and Oils in the world. At the same year, Inedible Fats and Oils was the 44th most imported product in Singapore. Singapore imports Inedible Fats and Oils primarily from: China ($462M), Malaysia ($410M), United States ($170M), Indonesia ($105M), and Netherlands ($87.4M).

The fastest growing import markets in Inedible Fats and Oils for Singapore between 2022 and 2023 were Malaysia ($206M), Netherlands ($86.5M), and Australia ($15.3M).

Latest Trends

Dec 2024

Subnational Monthly Trade

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Flow
Y-AXIS SCALE

For a full breakdown of trade patterns, visit the trend explorer or the product in country profile.

The following visualization shows the latest trends on Inedible Fats and Oils. Countries are shown based on data availability.

* Using January 2020 exchange rates when trade data is reported in local currency.

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Historical Data

Trade Balance

Color
EXPORTS (2023)$34.8M
IMPORTS (2023)$1.42B
NET TRADE (2023)-$1.39B

In 2023, Singapore exported $34.8M in Inedible Fats and Oils. The main destinations of Singapore exports on Inedible Fats and Oils were Malaysia ($20.1M), Spain ($6.03M), Netherlands ($4.64M), United Kingdom ($1.5M), and Thailand ($1.41M).

In 2023, Singapore imported $1.42B in Inedible Fats and Oils, mainly from China ($462M), Malaysia ($410M), United States ($170M), Indonesia ($105M), and Netherlands ($87.4M).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Inedible Fats and Oils EXPORT MARKETS FOR Singapore WERE (2022 - 2023):
Spain$2.89M (92.2%)
Thailand$1.39M (9.95k%)
China$224k (121%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Inedible Fats and Oils BY Singapore WERE (2022 - 2023):
Malaysia-$11.7M (-36.8%)
Netherlands-$1.92M (-29.3%)
United Kingdom-$539k (-26.4%)

Change in Exports by Market (2022 - 2023)

Market Concentration

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Flow
Type
In 2023, Singapore's main exporting competitors in Inedible Fats and Oils were:
In 2023, Singapore's main importing competitors in Inedible Fats and Oils were:

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Trade Value of Inedible Fats and Oils by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALSpain+ $836k
TOP IMPORT POTENTIALMalaysia+ $16.3M

Inedible Fats and Oils’s highest export potential is Spain. With an export gap of $836k.   Inedible Fats and Oils’s highest import potential is Malaysia with an import gap of $16.3M.

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