2023
Flag  
GDP
$3.57TCURRENT US$
Rnk 5 / 195
2013-2023
Flag
GDP GROWTH
92.1%CURRENT US$
Rnk 19 / 195
2023
Flag
 GDP
$501BCURRENT US$
Rnk 30 / 195
2013-2023
Flag
GDP GROWTH
63%CURRENT US$
Rnk 47 / 195
2023
Flag
GDP PC 
$2,481CURRENT US$
Rnk 148 / 195
2013-2023
Flag
GDP PC GROWTH
73.1%CURRENT US$
Rnk 22 / 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

India-Singapore Trade: In 2023, India exported $10.4B to Singapore. The main products that India exported to Singapore were Refined Petroleum ($5.36B), Jewellery ($652M), and Raw Zinc ($259M). Over the past 5 years the exports of India to Singapore have increased at an annualized rate of 4.93%, from $8.15B in 2018 to $10.4B in 2023.

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

Singapore-India Trade: In 2023, Singapore exported $7.25B to India. The main products that Singapore exported to India were Refined Petroleum ($774M), Computers ($508M), and Integrated Circuits ($492M). Over the past 5 years the exports of Singapore to India have decreased at an annualized rate of 12.7%,  from $14.3B in 2018 to $7.25B in 2023.

In 2015, Singapore exported services to India worth $2.46B, with Transportation ($1.53B), Other business services ($658M), and Insurance services ($122M) being the largest in terms of value.

Comparison: In 2023,  India ranked 39 in the Economic Complexity Index (ECI 0.65), and 12 in total exports ($441B). 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, India exported $10.4B to Singapore. The main products exported from India to Singapore were Refined Petroleum ($5.36B), Jewellery ($652M), and Raw Zinc ($259M). During the last 5 years the exports of India to Singapore have increased at an annualized rate of 4.93%, from $8.15B in 2018 to $10.4B in 2023.

In 2018, Singapore exported $7.25B to India. The main products exported from Singapore to India were Refined Petroleum ($774M), Computers ($508M), and Integrated Circuits ($492M). During the last 5 years the exports of Singapore to India have decreased at an annualized rate of 12.7%, from $14.3B in 2023 to $7.25B in 2018.

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

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

Market Competitiveness

Color
India
Top Destination
United States$85.5B
Singapore
Top Destination
Hong Kong$44.5B

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

In 2023, countries that imported more from India than Singapore included United States ($85.5B), United Arab Emirates ($28.8B), and United Kingdom ($14.4B).

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

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

Comparative Advantage India - Singapore

Flow
Scale

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

During 2023, India had a large net trade with Singapore in the exports of Mineral Products ($5.42B), Machines ($1.05B), and Chemical Products ($921M).

During 2018, Singapore had a large net trade with India in the exports of Machines ($2.19B), Chemical Products ($1.4B), and Plastics and Rubbers ($1.1B).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential India Singapore+$1.99BRefined Petroleum
Top Product Potential Singapore India+$603MIntegrated Circuits

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

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

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