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2023
Flag → Flag
Exports $18.2BRnk 6 / 217
2023
Flag → Flag
Top Product $9.27BRefined Petroleum
2023
Flag → Flag
Exports $15.8BRnk 5 / 213
2023
Flag → Flag
Top Product $1.86BPetroleum Gas
2023
Flag
Economic Complexity (ECI) ECI 1.62Rnk 6 / 132
2023
Flag
Economic Complexity (ECI) ECI -0.085Rnk 65 / 132
2023
Flag  
GDP$501BCURRENT US$
Rnk 30 / 195
2013-2023
Flag
GDP GROWTH63%CURRENT US$
Rnk 47 / 195
2023
Flag
 GDP$1.37TCURRENT US$
Rnk 16 / 195
2013-2023
Flag
GDP GROWTH50.3%CURRENT US$
Rnk 75 / 195
2023
Flag
GDP PC $84,734CURRENT US$
Rnk 8 / 195
2013-2023
Flag
GDP PC GROWTH48.7%CURRENT US$
Rnk 50 / 195
2023
Flag
GDP PC$4,876CURRENT US$
Rnk 123 / 196
2013-2023
Flag
GDP PC GROWTH36.7%CURRENT US$
Rnk 66 / 195

About

Singapore-Indonesia Trade: In 2023, Singapore exported $18.2B to Indonesia. The main products that Singapore exported to Indonesia were Refined Petroleum ($9.27B), Petroleum Coke ($453M), and Cyclic Hydrocarbons ($428M). Over the past 5 years the exports of Singapore to Indonesia have decreased at an annualized rate of 3.68%, from $21.9B in 2018 to $18.2B in 2023.

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

Indonesia-Singapore Trade: In 2023, Indonesia exported $15.8B to Singapore. The main products that Indonesia exported to Singapore were Petroleum Gas ($1.86B), Refined Petroleum ($1.36B), and Other Electrical Machinery ($1.07B). Over the past 5 years the exports of Indonesia to Singapore have increased at an annualized rate of 1.18%,  from $14.9B in 2018 to $15.8B in 2023.

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

Comparison: In 2023,  Singapore ranked 6 in the Economic Complexity Index (ECI 1.62), and 24 in total exports ($333B). That same year, Indonesia ranked 65 in the Economic Complexity Index (ECI -0.085), and 27 in total exports ($299B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Singapore exported $18.2B to Indonesia. The main products exported from Singapore to Indonesia were Refined Petroleum ($9.27B), Petroleum Coke ($453M), and Cyclic Hydrocarbons ($428M). During the last 5 years the exports of Singapore to Indonesia have decreased at an annualized rate of 3.68%, from $21.9B in 2018 to $18.2B in 2023.

In 2018, Indonesia exported $15.8B to Singapore. The main products exported from Indonesia to Singapore were Petroleum Gas ($1.86B), Refined Petroleum ($1.36B), and Other Electrical Machinery ($1.07B). During the last 5 years the exports of Indonesia to Singapore have increased at an annualized rate of 1.18%, from $14.9B in 2023 to $15.8B in 2018.

Exports from Singapore (Flag) to Indonesia (Flag) (2023)

Exports from Indonesia (Flag) to Singapore (Flag) (2023)

Latest Data

Trade between Singapore (Flag) and Indonesia (Flag)

Singapore Exports

Indonesia Exports

Market Competitiveness

Color
Singapore
Top DestinationHong Kong$44.5B
Indonesia
Top DestinationChina$70.7B

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

In 2023, countries that imported more from Singapore than Indonesia included Hong Kong ($44.5B), Malaysia ($31.4B), and South Korea ($20.1B).

In 2023, countries that imported more from Indonesia than Singapore included China ($70.7B), India ($24B), and Japan ($23.7B).

Difference in imports from Indonesia (Flag) and Singapore (Flag) (2023)

Comparative Advantage Singapore - Indonesia

Flow
Scale

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

During 2023, Singapore had a large net trade with Indonesia in the exports of Mineral Products ($9.8B), Machines ($3.14B), and Chemical Products ($1.75B).

During 2018, Indonesia had a large net trade with Singapore in the exports of Machines ($6.27B), Mineral Products ($4.2B), and Precious Metals ($1.3B).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Singapore Indonesia+$196MIntegrated Circuits
Top Product Potential Indonesia Singapore+$212MRefined 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 Singapore and Indonesia. This means that a dot/product with the flag of Singapore indicates it has a comparative advantage over Indonesia. Similarly, a dot/product with the flag of Indonesia indicates it has a comparative advantage over Singapore.

Product Space of Singapore (Flag) and Indonesia (Flag) (2023)

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