2021
Exports | Imports
$40.8B | $50BWorld Rnk 6 / 218
Flag Rnk 2 / 1195
World Rnk 2 / 226
Flag Rnk 2 / 1206
2021
ECONOMIC COMPLEXITY of Singapore
1.74Rnk 6 / 131
2021
PRODUCT COMPLEXITY IN Refined Petroleum
-0.99Rnk 831 / 1024

About

Exports In 2021, Singapore exported $40.8B in Refined Petroleum, making it the 6th largest exporter of Refined Petroleum in the world. At the same year, Refined Petroleum was the 2nd most exported product in Singapore. The main destination of Refined Petroleum exports from Singapore are: Australia ($6.57B), Malaysia ($6.37B), Indonesia ($6.03B), Hong Kong ($2.06B), and Burma ($1.96B).

The fastest growing export markets for Refined Petroleum of Singapore between 2020 and 2021 were Australia ($3.75B), Indonesia ($2.21B), and Malaysia ($2.06B).

Imports In 2021, Singapore imported $50B in Refined Petroleum, becoming the 2nd largest importer of Refined Petroleum in the world. At the same year, Refined Petroleum was the 2nd most imported product in Singapore. Singapore imports Refined Petroleum primarily from: Malaysia ($10.9B), China ($5.29B), India ($4.59B), South Korea ($4.34B), and United Arab Emirates ($4.16B).

The fastest growing import markets in Refined Petroleum for Singapore between 2020 and 2021 were Malaysia ($5.22B), United Arab Emirates ($2.56B), and South Korea ($2.43B).

Latest Trends

Dec 2023

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 Refined Petroleum. 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 (2021)$40.8B
IMPORTS (2021)$50B
NET TRADE (2021)-$9.14B

In 2021, Singapore exported $40.8B in Refined Petroleum. The main destinations of Singapore exports on Refined Petroleum were Australia ($6.57B), Malaysia ($6.37B), Indonesia ($6.03B), Hong Kong ($2.06B), and Burma ($1.96B).

In 2021, Singapore imported $50B in Refined Petroleum, mainly from Malaysia ($10.9B), China ($5.29B), India ($4.59B), South Korea ($4.34B), and United Arab Emirates ($4.16B).

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Export Destinations (2021)

Import Origins (2021)

Market Growth

Flow
THE FASTEST GROWING Refined Petroleum EXPORT MARKETS FOR Singapore WERE (2020 - 2021):
Australia$3.75B (133%)
Indonesia$2.21B (57.8%)
Malaysia$2.06B (47.9%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Refined Petroleum BY Singapore WERE (2020 - 2021):
Saudi Arabia-$275M (-60.9%)
France-$232M (-65%)
Ethiopia-$219M (-100%)

Change in Exports by Market (2020 - 2021)

Market Concentration

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Flow
Type
In 2021, Singapore's main exporting competitors in Refined Petroleum were:
In 2021, Singapore's main importing competitors in Refined Petroleum were:

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Trade Value of Refined Petroleum by Exporters

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