Kuwait (KWT) and Singapore (SGP) Trade | The Observatory of Economic Complexity

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Kuwait-Singapore Trade: In 2023, Kuwait exported $1.79B to Singapore. The main products that Kuwait exported to Singapore were Refined Petroleum ($1.71B), Crude Petroleum ($38.9M), and Petroleum Gas ($14.5M). Over the past 5 years the exports of Kuwait to Singapore have decreased at an annualized rate of 15.2%, from $4.09B in 2018 to $1.79B in 2023.

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

Singapore-Kuwait Trade: In 2023, Singapore exported $188M to Kuwait. The main products that Singapore exported to Kuwait were Gas Turbines ($38.5M), Excavation Machinery ($23.2M), and Machinery Having Individual Functions ($15.2M). Over the past 5 years the exports of Singapore to Kuwait have increased at an annualized rate of 1.46%, from $175M in 2018 to $188M in 2023.

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

Comparison: In 2023, Kuwait ranked 53 in the Economic Complexity Index (ECI 0.21), and 47 in total exports ($71B). 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

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, Kuwait exported $1.79B to Singapore. The main products exported from Kuwait to Singapore were Refined Petroleum ($1.71B), Crude Petroleum ($38.9M), and Petroleum Gas ($14.5M). During the last 5 years the exports of Kuwait to Singapore have decreased at an annualized rate of 15.2%, from $4.09B in 2018 to $1.79B in 2023.

In 2018, Singapore exported $188M to Kuwait. The main products exported from Singapore to Kuwait were Gas Turbines ($38.5M), Excavation Machinery ($23.2M), and Machinery Having Individual Functions ($15.2M). During the last 5 years the exports of Singapore to Kuwait have increased at an annualized rate of 1.46%, from $175M in 2023 to $188M in 2018.

Exports from Kuwait () to Singapore () (2023)

Exports from Singapore () to Kuwait () (2023)

Latest Data

Trade between Kuwait () and Singapore ()

Kuwait Exports

Date

Singapore Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Kuwait
Top DestinationChina$17.4B

Singapore
Top DestinationHong Kong$44.5B

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

In 2023, countries that imported more from Kuwait than Singapore included Egypt ($2.78B), India ($9.51B), and Oman ($1.74B).

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

Difference in imports from Singapore () and Kuwait () (2023)

Comparative Advantage Kuwait - Singapore

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Kuwait had a large net trade with Singapore in the exports of Mineral Products ($1.76B), Machines ($10.5M), and Plastics and Rubbers ($7.49M).

During 2018, Singapore had a large net trade with Kuwait in the exports of Machines ($107M), Instruments ($23M), and Chemical Products ($21.4M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Kuwait Singapore+$250MRefined Petroleum

Top Product Potential Singapore Kuwait+$6.84MPackaged 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

Year

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

About

Historical Data

Bilateral Trade by Products

Exports from Kuwait () to Singapore () (2023)

Exports from Singapore () to Kuwait () (2023)

Latest Data

Trade between Kuwait () and Singapore ()

Kuwait Exports

Singapore Exports

Market Competitiveness

Difference in imports from Singapore () and Kuwait () (2023)

Comparative Advantage Kuwait - Singapore

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

Product Space of Kuwait () and Singapore () (2023)

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