2023
Flag  
GDP
$296BCURRENT US$
Rnk 47 / 195
2013-2023
Flag
GDP GROWTH
9.35%CURRENT US$
Rnk 158 / 195
2023
Flag
 GDP
$501BCURRENT US$
Rnk 30 / 195
2013-2023
Flag
GDP GROWTH
63%CURRENT US$
Rnk 47 / 195
2023
Flag
GDP PC 
$52,926CURRENT US$
Rnk 23 / 195
2013-2023
Flag
GDP PC GROWTH
6.51%CURRENT US$
Rnk 144 / 195
2023
Flag
GDP PC
$84,734CURRENT US$
Rnk 8 / 196
2013-2023
Flag
GDP PC GROWTH
48.7%CURRENT US$
Rnk 50 / 195

About

Finland-Singapore Trade: In 2023, Finland exported $365M to Singapore. The main products that Finland exported to Singapore were Sulfate Chemical Woodpulp ($23.5M), Papermaking Machines ($21.6M), and Enzymes ($19.7M). Over the past 5 years the exports of Finland to Singapore have increased at an annualized rate of 5.26%, from $283M in 2018 to $365M in 2023.

In 2020, Finland exported services to Singapore worth $456M, with Transportation ($235M), Computer and information services ($110M), and Other business services ($84.5M) being the largest in terms of value.

Singapore-Finland Trade: In 2023, Singapore exported $537M to Finland. The main products that Singapore exported to Finland were Planes, Helicopters, and/or Spacecraft ($225M), Refined Petroleum ($164M), and Broadcasting Equipment ($21.9M). Over the past 5 years the exports of Singapore to Finland have increased at an annualized rate of 21.9%,  from $199M in 2018 to $537M in 2023.

In 2023, Singapore did not export any services to Finland.

Comparison: In 2023,  Finland ranked 13 in the Economic Complexity Index (ECI 1.46), and 45 in total exports ($84.3B). 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, Finland exported $365M to Singapore. The main products exported from Finland to Singapore were Sulfate Chemical Woodpulp ($23.5M), Papermaking Machines ($21.6M), and Enzymes ($19.7M). During the last 5 years the exports of Finland to Singapore have increased at an annualized rate of 5.26%, from $283M in 2018 to $365M in 2023.

In 2018, Singapore exported $537M to Finland. The main products exported from Singapore to Finland were Planes, Helicopters, and/or Spacecraft ($225M), Refined Petroleum ($164M), and Broadcasting Equipment ($21.9M). During the last 5 years the exports of Singapore to Finland have increased at an annualized rate of 21.9%, from $199M in 2023 to $537M in 2018.

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

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

Latest Data

Trade between Finland (Flag) and Singapore (Flag)

Finland Exports

Singapore Exports

Market Competitiveness

Color
Finland
Top Destination
United States$9.68B
Singapore
Top Destination
Hong Kong$44.5B

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

In 2023, countries that imported more from Finland than Singapore included Sweden ($8.13B), Germany ($9.26B), and Estonia ($2.4B).

In 2023, countries that imported more from Singapore than Finland included Hong Kong ($44.5B), China ($36.7B), and Malaysia ($31.4B).

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

Comparative Advantage Finland - Singapore

Flow
Scale

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

During 2023, Finland had a large net trade with Singapore in the exports of Machines ($160M), Chemical Products ($52.2M), and Paper Goods ($42.2M).

During 2018, Singapore had a large net trade with Finland in the exports of Transportation ($226M), Mineral Products ($164M), and Machines ($74.1M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Finland Singapore+$13.7MRefined Petroleum
Top Product Potential Singapore Finland+$71.2MRefined Petroleum

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 Finland and Singapore. This means that a dot/product with the flag of Finland indicates it has a comparative advantage over Singapore. Similarly, a dot/product with the flag of Singapore indicates it has a comparative advantage over Finland.

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

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