2023
Flag  
GDP
$1.73TCURRENT US$
Rnk 13 / 195
2013-2023
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GDP GROWTH
9.57%CURRENT US$
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2023
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 GDP
$501BCURRENT US$
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2013-2023
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GDP GROWTH
63%CURRENT US$
Rnk 47 / 195
2023
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GDP PC 
$64,821CURRENT US$
Rnk 16 / 195
2013-2023
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GDP PC GROWTH
-4.94%CURRENT US$
Rnk 159 / 195
2023
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GDP PC
$84,734CURRENT US$
Rnk 8 / 196
2013-2023
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GDP PC GROWTH
48.7%CURRENT US$
Rnk 50 / 195

About

Australia-Singapore Trade: In 2023, Australia exported $7.3B to Singapore. The main products that Australia exported to Singapore were Gold ($1.86B), Petroleum Gas ($1.72B), and Crude Petroleum ($754M). Over the past 5 years the exports of Australia to Singapore have increased at an annualized rate of 6%, from $5.46B in 2018 to $7.3B in 2023.

In 2009, Australia exported services to Singapore worth $2.38B, with Other business services ($781M), Travel ($695M), and Transportation ($575M) being the largest in terms of value.

Singapore-Australia Trade: In 2023, Singapore exported $11.6B to Australia. The main products that Singapore exported to Australia were Refined Petroleum ($8.23B), Other Edible Preparations ($403M), and Computers ($240M). Over the past 5 years the exports of Singapore to Australia have increased at an annualized rate of 4.74%,  from $9.21B in 2018 to $11.6B in 2023.

In 2015, Singapore exported services to Australia worth $3.13B, with Transportation ($2.71B), Insurance services ($245M), and Royalties and license fees ($122M) being the largest in terms of value.

Comparison: In 2023,  Australia ranked 75 in the Economic Complexity Index (ECI -0.28), and 20 in total exports ($374B). That same year, Singapore ranked 6 in the Economic Complexity Index (ECI 1.62), and 24 in total exports ($333B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Australia exported $7.3B to Singapore. The main products exported from Australia to Singapore were Gold ($1.86B), Petroleum Gas ($1.72B), and Crude Petroleum ($754M). During the last 5 years the exports of Australia to Singapore have increased at an annualized rate of 6%, from $5.46B in 2018 to $7.3B in 2023.

In 2018, Singapore exported $11.6B to Australia. The main products exported from Singapore to Australia were Refined Petroleum ($8.23B), Other Edible Preparations ($403M), and Computers ($240M). During the last 5 years the exports of Singapore to Australia have increased at an annualized rate of 4.74%, from $9.21B in 2023 to $11.6B in 2018.

Exports from Australia (Flag) to Singapore (Flag) (2023)

Exports from Singapore (Flag) to Australia (Flag) (2023)

Latest Data

Trade between Australia (Flag) and Singapore (Flag)

Australia Exports

Singapore Exports

Market Competitiveness

Color
Australia
Top Destination
China$137B
Singapore
Top Destination
Hong Kong$44.5B

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

In 2023, countries that imported more from Australia than Singapore included China ($137B), Japan ($59B), and India ($19.9B).

In 2023, countries that imported more from Singapore than Australia included Hong Kong ($44.5B), Malaysia ($31.4B), and United States ($32.9B).

Difference in imports from Singapore (Flag) and Australia (Flag) (2023)

Comparative Advantage Australia - Singapore

Flow
Scale

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

During 2023, Australia had a large net trade with Singapore in the exports of Mineral Products ($3.34B), Precious Metals ($1.98B), and Animal Products ($367M).

During 2018, Singapore had a large net trade with Australia in the exports of Mineral Products ($8.42B), Machines ($871M), and Foodstuffs ($617M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Australia Singapore+$74.6MPetroleum Gas
Top Product Potential Singapore Australia+$40.7MPackaged Medicaments

We estimate the export potential of an economy for each product and destination using an extension of the bilateral relatedness model of Jun et al. (2019).This extended gravity model considers similarities among products and geographies and explains more than 50% of the variance in future trade flows.

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Economic Complexity

Competitive Landscape

This visualization shows the product space at the HS4 level with the flags of Australia and Singapore. This means that a dot/product with the flag of Australia indicates it has a comparative advantage over Singapore. Similarly, a dot/product with the flag of Singapore indicates it has a comparative advantage over Australia.

Product Space of Australia (Flag) and Singapore (Flag) (2023)

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