2022
Flag  
GDP
$2.24TCURRENT US$
Rnk 8 / 186
2012-2022
Flag
GDP GROWTH
1.45%CURRENT US$
Rnk 164 / 186
2022
Flag
 GDP
$467BCURRENT US$
Rnk 33 / 186
2012-2022
Flag
GDP GROWTH
58.2%CURRENT US$
Rnk 42 / 186
2022
Flag
GDP PC 
$15,345CURRENT US$
Rnk 63 / 186
2012-2022
Flag
GDP PC GROWTH
-0.49%CURRENT US$
Rnk 145 / 186
2022
Flag
GDP PC
$82,808CURRENT US$
Rnk 7 / 186
2012-2022
Flag
GDP PC GROWTH
49.1%CURRENT US$
Rnk 37 / 186

About

Russia-Singapore Trade: In 2022, Russia exported $2.12B to Singapore. The main products that Russia exported to Singapore were Refined Petroleum ($1.09B), Gold ($627M), and Crude Petroleum ($85.9M). Over the past 5 years the exports of Russia to Singapore have decreased at an annualized rate of 14.3%, from $4.58B in 2017 to $2.12B in 2022.

In 2020, Russia exported services to Singapore worth $609M, with Transportation ($283M), Other business services ($137M), and Computer and information services ($72.8M) being the largest in terms of value.

Singapore-Russia Trade: In 2022, Singapore exported $167M to Russia. The main products that Singapore exported to Russia were Refined Petroleum ($17.7M), Integrated Circuits ($11.1M), and Motor vehicles; parts and accessories (8701 to 8705) ($11M). Over the past 5 years the exports of Singapore to Russia have decreased at an annualized rate of 23.8%,  from $1.12B in 2017 to $167M in 2022.

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

Comparison: In 2022,  Russia ranked 47 in the Economic Complexity Index (ECI 0.43), and 12 in total exports ($486B). That same year, Singapore ranked 6 in the Economic Complexity Index (ECI 1.68), and 21 in total exports ($379B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Russia exported $2.12B to Singapore. The main products exported from Russia to Singapore were Refined Petroleum ($1.09B), Gold ($627M), and Crude Petroleum ($85.9M). During the last 5 years the exports of Russia to Singapore have decreased at an annualized rate of 14.3%, from $4.58B in 2017 to $2.12B in 2022.

In 2017, Singapore exported $167M to Russia. The main products exported from Singapore to Russia were Refined Petroleum ($17.7M), Integrated Circuits ($11.1M), and Motor vehicles; parts and accessories (8701 to 8705) ($11M). During the last 5 years the exports of Singapore to Russia have decreased at an annualized rate of 23.8%, from $1.12B in 2022 to $167M in 2017.

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

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

Market Competitiveness

Color
Russia
Top Destination
China$101B
Singapore
Top Destination
Hong Kong$51.6B

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

In 2022, countries that imported more from Russia than Singapore included China ($101B), Turkey ($25.3B), and Italy ($25.1B).

In 2022, countries that imported more from Singapore than Russia included Hong Kong ($51.6B), Malaysia ($35.9B), and Indonesia ($22.5B).

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

Comparative Advantage Russia - Singapore

Flow
Scale

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

During 2022, Russia had a large net trade with Singapore in the exports of Mineral Products ($1.23B), Precious Metals ($633M), and Metals ($206M).

During 2017, Singapore had a large net trade with Russia in the exports of Machines ($73.2M), Mineral Products ($17.7M), and Instruments ($16M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Russia Singapore+$676MRefined Petroleum
Top Product Potential Singapore Russia+$31.2MRefined 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 Russia and Singapore. This means that a dot/product with the flag of Russia indicates it has a comparative advantage over Singapore. Similarly, a dot/product with the flag of Singapore indicates it has a comparative advantage over Russia.

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

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