Overview: This page contains the latest international trade data for Singapore, including service trade data. In 2018 Singapore was the number 33 economy in the world in terms of GDP (current US$), the number 17 in total exports, the number 16 in total imports, and the number 6 most complex economy according to the Economic Complexity Index (ECI). In 2018, Singapore exported $323B and imported $323B, resulting in a negative trade balance of -$679M. In 2018, Singapore's exports per capita were $57.2k and its imports per capita were $57.3k.
In 2018 Singapore exported a total of $323B, making it the number 17 exporter in the world. During the last five reported years the exports of Singapore have changed by $43.9B from $279B in 2013 to $323B in 2018.
In 2018 Singapore imported $323B, making it the number 16 trade destination in the world. During the last five reported years the imports of Singapore changed by -$44.4B from $368B in 2013 to $323B in 2018.
In 2018, Singapore exported $165B worth of services. The top services exported by Singapore in 2018 were Miscellaneous business, professional, and technical services ($46.4B), Sea transport ($41.4B), Financial services ($20.7B), Travel ($20.4B), and Air transport ($9.53B).
The top services imported by Singapore in 2018 were Sea transport ($41.5B), Miscellaneous business, professional, and technical services ($39.1B), Travel ($25.3B), Air transport ($11.8B), and Merchanting and other trade-related services ($11.2B).
This section shows forecasts for total product exports and imports for Singapore. The forecast is based in a long short-term memory model or LSTM constructed using yearly trade data.
During the last 20 years Singapore's economy has become relatively more complex, moving from the 20th to the 6th position in the ECI rank.
These economic complexity rankings use 6 digit exports classified according to the HS96 classification. We consider only countries with population of at least 1 million and exports of at least $1 billion, and products with world trade over $500 million. To explore different rankings and vary these parameters visit the custom rankings section.
Singapore has a high level of specialization in Oxygen Amino Compounds (17.6), Sulfonamides (11.7), Antiknock (8.38), Glands and Other Organs (8.33), and Fluorides (7.16). Specialization is measured using RCA, an index that takes the ratio between Singapore observed and expected exports in each product.
The top export opportunities for Singapore according to the relatedness index, are Rubber Thread (0.23), Copper Foil (0.22), Photographic Film (0.21), Blown Glass (0.21), and Vacuum Flask (0.19). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Singapore is not specialized in.
The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products it is currently specialized in.
The Complexity-Relatedness diagram compares the risk and the strategic value of a country's potential export oppotunities.
Relatedness is a predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower emissions.
Singapore
