Singapore (SGP) and Spain (ESP) Trade | The Observatory of Economic Complexity

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Singapore-Spain Trade: In 2022, Singapore exported $596M to Spain. The main products that Singapore exported to Spain were Gas Turbines ($94.1M), Packaged Medicaments ($84.3M), and Planes, Helicopters, and/or Spacecraft ($49.3M). Over the past 5 years the exports of Singapore to Spain have increased at an annualized rate of 8.79%, from $391M in 2017 to $596M in 2022.

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

Spain-Singapore Trade: In 2022, Spain exported $1.83B to Singapore. The main products that Spain exported to Singapore were N/A. Over the past 5 years the exports of Spain to Singapore have increased at an annualized rate of 21.7%, from $688M in 2017 to $1.83B in 2022.

In 2009, Spain exported services to Singapore worth $313M, with Services not allocated ($225M) and Transportation ($87.9M) being the largest in terms of value.

Comparison: In 2022, Singapore ranked 6 in the Economic Complexity Index (ECI 1.68), and 21 in total exports ($379B). That same year, Spain ranked 33 in the Economic Complexity Index (ECI 0.81), and 20 in total exports ($394B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Singapore exported $596M to Spain. The main products exported from Singapore to Spain were Gas Turbines ($94.1M), Packaged Medicaments ($84.3M), and Planes, Helicopters, and/or Spacecraft ($49.3M). During the last 5 years the exports of Singapore to Spain have increased at an annualized rate of 8.79%, from $391M in 2017 to $596M in 2022.

In 2017, Spain exported $1.83B to Singapore. There were not main exports from Spain to Singapore in 2017. During the last 5 years the exports of Spain to Singapore have increased at an annualized rate of 21.7%, from $688M in 2022 to $1.83B in 2017.

Exports from Singapore () to Spain () (2022)

Exports from Spain () to Singapore () (2022)

Latest Data

Trade between Singapore () and Spain ()

Singapore Exports

Date

Spain Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Singapore
Top DestinationHong Kong$51.6B

Spain
Top DestinationFrance$65.2B

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

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

In 2022, countries that imported more from Spain than Singapore included France ($65.2B), Portugal ($34.9B), and Germany ($39.2B).

Difference in imports from Spain () and Singapore () (2022)

Comparative Advantage Singapore - Spain

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Singapore had a large net trade with Spain in the exports of Chemical Products ($213M), Machines ($178M), and Instruments ($69M).

During 2017, Spain had a large net trade with Singapore in the exports of Chemical Products ($847M), Mineral Products ($240M), and Transportation ($230M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Singapore Spain+$60.1MPackaged Medicaments

Top Product Potential Spain Singapore+$148MRefined 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

Year

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

About

Historical Data

Bilateral Trade by Products

Exports from Singapore () to Spain () (2022)

Exports from Spain () to Singapore () (2022)

Latest Data

Trade between Singapore () and Spain ()

Singapore Exports

Spain Exports

Market Competitiveness

Difference in imports from Spain () and Singapore () (2022)

Comparative Advantage Singapore - Spain

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

Product Space of Singapore () and Spain () (2022)

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