2022
Exports
$613MWorld Rnk 8 / 149
Flag Rnk 71 / 1198
2022
PRODUCT COMPLEXITY IN Palm Oil
-2.31Rnk 1012 / 1025
2022
Imports
$352MWorld Rnk 34 / 208
Flag Rnk 138 / 1213
2022
ECONOMIC COMPLEXITY of Singapore
1.68Rnk 6 / 133

About

Exports In 2022, Singapore exported $613M in Palm Oil, making it the 8th largest exporter of Palm Oil in the world. At the same year, Palm Oil was the 71st most exported product in Singapore. The main destination of Palm Oil exports from Singapore are: India ($421M), Kenya ($36.2M), Israel ($34M), Malaysia ($30.2M), and United States ($15M).

The fastest growing export markets for Palm Oil of Singapore between 2021 and 2022 were Kenya ($19.4M), India ($14.4M), and Israel ($11.7M).

Imports In 2022, Singapore imported $352M in Palm Oil, becoming the 34th largest importer of Palm Oil in the world. At the same year, Palm Oil was the 138th most imported product in Singapore. Singapore imports Palm Oil primarily from: Malaysia ($227M), Indonesia ($106M), Philippines ($17.6M), Colombia ($849k), and United States ($12.5k).

The fastest growing import markets in Palm Oil for Singapore between 2021 and 2022 were Malaysia ($56.2M), Indonesia ($48.2M), and Philippines ($13.9M).

COMPANIES In 2023, leading companies such as Chevron (7) were at the forefront of shipping Palm Oil from Singapore to the United States.

Latest Trends

Aug 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 Palm Oil. 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 (2022)$613M
IMPORTS (2022)$352M
NET TRADE (2022)$261M

In 2022, Singapore exported $613M in Palm Oil. The main destinations of Singapore exports on Palm Oil were India ($421M), Kenya ($36.2M), Israel ($34M), Malaysia ($30.2M), and United States ($15M).

In 2022, Singapore imported $352M in Palm Oil, mainly from Malaysia ($227M), Indonesia ($106M), Philippines ($17.6M), Colombia ($849k), and United States ($12.5k).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Palm Oil EXPORT MARKETS FOR Singapore WERE (2021 - 2022):
Kenya$19.4M (116%)
India$14.4M (3.53%)
Israel$11.7M (52.5%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Palm Oil BY Singapore WERE (2021 - 2022):
Iran-$164M (-100%)
Djibouti-$7.91M (-68.4%)
Nigeria-$7.08M (-41.8%)

Change in Exports by Market (2021 - 2022)

Market Concentration

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Flow
Type
In 2022, Singapore's main exporting competitors in Palm Oil were:
In 2022, Singapore's main importing competitors in Palm Oil were:
India $11.1B
China $4.85B

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Trade Value of Palm Oil by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALMalaysia+ $17.4M
TOP IMPORT POTENTIALMalaysia+ $69.3M

Palm Oil’s highest export potential is Malaysia. With an export gap of $17.4M.   Palm Oil’s highest import potential is Malaysia with an import gap of $69.3M.

See methodology.

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