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2022
Flag → Flag
Exports $333MRnk 57 / 215
2022
Flag → Flag
Top Product $148MRefined Petroleum
2022
Flag → Flag
Exports $448MRnk 33 / 207
2022
Flag → Flag
Top Product $191MOther Nickel Products
2022
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Economic Complexity (ECI) ECI 1.68Rnk 6 / 133
2022
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Economic Complexity (ECI) ECI 1.41Rnk 13 / 133
2022
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GDP$467BCURRENT US$
Rnk 33 / 186
2012-2022
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GDP GROWTH58.2%CURRENT US$
Rnk 42 / 186
2022
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 GDP$281BCURRENT US$
Rnk 47 / 186
2012-2022
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GDP GROWTH8.73%CURRENT US$
Rnk 147 / 186
2022
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GDP PC $82,808CURRENT US$
Rnk 7 / 186
2012-2022
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GDP PC GROWTH49.1%CURRENT US$
Rnk 37 / 186
2022
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GDP PC$50,537CURRENT US$
Rnk 18 / 186
2012-2022
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GDP PC GROWTH5.93%CURRENT US$
Rnk 127 / 186

About

Singapore-Finland Trade: In 2022, Singapore exported $333M to Finland. The main products that Singapore exported to Finland were Refined Petroleum ($148M), Integrated Circuits ($93.6M), and Therapeutic Appliances ($9.41M). Over the past 5 years the exports of Singapore to Finland have increased at an annualized rate of 3.47%, from $280M in 2017 to $333M in 2022.

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

Finland-Singapore Trade: In 2022, Finland exported $448M to Singapore. The main products that Finland exported to Singapore were Other Nickel Products ($191M), Dissolving Grades Chemical Woodpulp ($19.4M), and Raw Nickel ($14.8M). Over the past 5 years the exports of Finland to Singapore have increased at an annualized rate of 12.4%,  from $250M in 2017 to $448M in 2022.

In 2020, Finland exported services to Singapore worth $456M, with Transportation ($235M), Computer and information services ($110M), and Other business services ($84.5M) 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, Finland ranked 13 in the Economic Complexity Index (ECI 1.41), and 46 in total exports ($89.9B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Singapore exported $333M to Finland. The main products exported from Singapore to Finland were Refined Petroleum ($148M), Integrated Circuits ($93.6M), and Therapeutic Appliances ($9.41M). During the last 5 years the exports of Singapore to Finland have increased at an annualized rate of 3.47%, from $280M in 2017 to $333M in 2022.

In 2017, Finland exported $448M to Singapore. The main products exported from Finland to Singapore were Other Nickel Products ($191M), Dissolving Grades Chemical Woodpulp ($19.4M), and Raw Nickel ($14.8M). During the last 5 years the exports of Finland to Singapore have increased at an annualized rate of 12.4%, from $250M in 2022 to $448M in 2017.

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

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

Latest Data

Trade between Singapore (Flag) and Finland (Flag)

Singapore Exports

Finland Exports

Market Competitiveness

Color
Singapore
Top DestinationHong Kong$51.6B
Finland
Top DestinationGermany$9.99B

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

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

In 2022, countries that imported more from Finland than Singapore included Sweden ($9.1B), Estonia ($3.58B), and Germany ($9.99B).

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

Comparative Advantage Singapore - Finland

Flow
Scale

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

During 2022, Singapore had a large net trade with Finland in the exports of Mineral Products ($148M), Machines ($134M), and Instruments ($23.4M).

During 2017, Finland had a large net trade with Singapore in the exports of Metals ($213M), Machines ($92.1M), and Chemical Products ($38.6M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Singapore Finland+$71.2MRefined Petroleum
Top Product Potential Finland Singapore+$13.7MRefined 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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Bilateral Service Trade

In 2020, Finland exported services to Singapore worth $456M, with Transportation ($235M), Computer and information services ($110M), and Other business services ($84.5M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Finland (Flag) to Singapore (Flag) (2020)

Service Trade

Economic Complexity

Competitive Landscape

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

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

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