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2022
Flag → Flag
Exports $494MRnk 29 / 209
2022
Flag → Flag
Top Product $108MPassenger and Cargo Ships
2022
Flag → Flag
Exports $1.18BRnk 29 / 215
2022
Flag → Flag
Top Product $634MSpecial Purpose Ships
2022
Flag
Economic Complexity (ECI) ECI 0.54Rnk 43 / 133
2022
Flag
Economic Complexity (ECI) ECI 1.68Rnk 6 / 133
2022
Flag  
GDP$579BCURRENT US$
Rnk 24 / 186
2012-2022
Flag
GDP GROWTH13%CURRENT US$
Rnk 141 / 186
2022
Flag
 GDP$467BCURRENT US$
Rnk 33 / 186
2012-2022
Flag
GDP GROWTH58.2%CURRENT US$
Rnk 42 / 186
2022
Flag
GDP PC $106,149CURRENT US$
Rnk 3 / 186
2012-2022
Flag
GDP PC GROWTH3.89%CURRENT US$
Rnk 131 / 186
2022
Flag
GDP PC$82,808CURRENT US$
Rnk 7 / 186
2012-2022
Flag
GDP PC GROWTH49.1%CURRENT US$
Rnk 37 / 186

About

Norway-Singapore Trade: In 2022, Norway exported $494M to Singapore. The main products that Norway exported to Singapore were Passenger and Cargo Ships ($108M), Non-fillet Fresh Fish ($75.9M), and Refined Petroleum ($26.4M). Over the past 5 years the exports of Norway to Singapore have decreased at an annualized rate of 15.5%, from $1.14B in 2017 to $494M in 2022.

In 2022, Norway did not export any services to Singapore.

Singapore-Norway Trade: In 2022, Singapore exported $1.18B to Norway. The main products that Singapore exported to Norway were Special Purpose Ships ($634M), Passenger and Cargo Ships ($133M), and Iron Structures ($133M). Over the past 5 years the exports of Singapore to Norway have increased at an annualized rate of 25.8%,  from $373M in 2017 to $1.18B in 2022.

In 2022, Singapore did not export any services to Norway.

Comparison: In 2022,  Norway ranked 43 in the Economic Complexity Index (ECI 0.54), and 28 in total exports ($285B). That same year, Singapore ranked 6 in the Economic Complexity Index (ECI 1.68), and 21 in total exports ($379B).

Latest Trends

August, 2024

About

Overview In August 2024, Norway exported NOK279M and imported NOK279M from Singapore, resulting in a negative trade balance of NOK469k. Between August 2023 and August 2024 the exports of Norway have decreased by NOK-41.8M (-13%) from NOK321M to NOK279M, while imports decreased by NOK-41.6M (-13%) from NOK321M to NOK279M.

Trade In August 2024, the top exports of Norway to Singapore were Fish (not marine mammals), crustaceans, molluscs... (NOK76.9M), Professional, scientific and controlling instruments and... (NOK46.4M), General industrial machinery and equipment, n.e.s.,... (NOK27.2M), Power-generating machinery and equipment (NOK19.5M), and Electrical machinery, apparatus and appliances, n.e.s.,... (NOK19.2M). In August 2024 the top imports of Norway from Singapore were Machinery specialized for particular industries (NOK37.1M), Electrical machinery, apparatus and appliances, n.e.s.,... (NOK21.2M), General industrial machinery and equipment, n.e.s.,... (NOK19.7M), Miscellaneous manufactured articles, n.e.s. (NOK18.4M), and Non-ferrous metals (NOK17.8M).

Growth In August 2024, the decrease in Norway's year-by-year exports to Singapore was explained primarily by an decrease in product exports in Machinery specialized for particular industries (NOK-25.1M or -86.8%), General industrial machinery and equipment, n.e.s.,... (NOK-15M or -35.5%), and Non-ferrous metals (NOK-5.4M or -58.3%). In August 2024, the decrease in Norway's year-by-year imports  from Singapore was explained primarily by an decrease in product imports  in Manufactures of metals, n.e.s. (NOK-1.4B or -99.8%), Organic chemicals (NOK-25.6M or -100%), and Miscellaneous manufactured articles, n.e.s. (NOK-16.3M or -47%).

Latest Trade

Time Scale
Flow
Value
EXPORT GROWTH (August 2023 - August 2024)NOK-41.8M(-13%)
IMPORT GROWTH (August 2023 - August 2024)NOK-41.6M(-13%)

This section shows exports and imports data at subnational level for Norway. Click any date in the line plot or any product to explore the exports or imports behavior of Norway over time.

To check Singapore and Norway trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore Singapore and Norway Data

Go to Bulk Download

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Norway exported $494M to Singapore. The main products exported from Norway to Singapore were Passenger and Cargo Ships ($108M), Non-fillet Fresh Fish ($75.9M), and Refined Petroleum ($26.4M). During the last 5 years the exports of Norway to Singapore have decreased at an annualized rate of 15.5%, from $1.14B in 2017 to $494M in 2022.

In 2017, Singapore exported $1.18B to Norway. The main products exported from Singapore to Norway were Special Purpose Ships ($634M), Passenger and Cargo Ships ($133M), and Iron Structures ($133M). During the last 5 years the exports of Singapore to Norway have increased at an annualized rate of 25.8%, from $373M in 2022 to $1.18B in 2017.

Exports from Norway (Flag) to Singapore (Flag) (2022)

Exports from Singapore (Flag) to Norway (Flag) (2022)

Market Competitiveness

Color
Norway
Top DestinationGermany$78.1B
Singapore
Top DestinationHong Kong$51.6B

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

In 2022, countries that imported more from Norway than Singapore included Germany ($78.1B), United Kingdom ($59.1B), and France ($25.9B).

In 2022, countries that imported more from Singapore than Norway included Hong Kong ($51.6B), China ($51.2B), and Malaysia ($35.9B).

Difference in imports from Singapore (Flag) and Norway (Flag) (2022)

Comparative Advantage Norway - Singapore

Flow
Scale

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

During 2022, Norway had a large net trade with Singapore in the exports of Machines ($142M), Transportation ($110M), and Animal Products ($98.9M).

During 2017, Singapore had a large net trade with Norway in the exports of Transportation ($768M), Metals ($172M), and Machines ($125M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Norway Singapore+$37.5MRefined Petroleum
Top Product Potential Singapore Norway+$7.71MPackaged 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 Norway and Singapore. This means that a dot/product with the flag of Norway indicates it has a comparative advantage over Singapore. Similarly, a dot/product with the flag of Singapore indicates it has a comparative advantage over Norway.

Product Space of Norway (Flag) and Singapore (Flag) (2022)

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