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Pricing

2023
Flag → Flag
Exports $10MRnk 139 / 217
2023
Flag → Flag
Top Product $2.76MOrthopedic Appliances
2023
Flag → Flag
Exports $3.15MRnk 59 / 130
2023
Flag → Flag
Top Product $973kOxygen Amino Compounds
2023
Flag
Economic Complexity (ECI) ECI 1.62Rnk 6 / 132
2023
Flag
Economic Complexity (ECI) ECI 0.084Rnk 58 / 132
2023
Flag  
GDP$501BCURRENT US$
Rnk 30 / 195
2013-2023
Flag
GDP GROWTH63%CURRENT US$
Rnk 47 / 195
2023
Flag
 GDP$405BCURRENT US$
Rnk 36 / 195
2013-2023
Flag
GDP GROWTH-19.1%CURRENT US$
Rnk 189 / 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$4,466CURRENT US$
Rnk 125 / 196
2013-2023
Flag
GDP PC GROWTH-28.2%CURRENT US$
Rnk 186 / 195

About

Singapore-Iran Trade: In 2023, Singapore exported $10M to Iran. The main products that Singapore exported to Iran were Orthopedic Appliances ($2.76M), Packaged Medicaments ($1.46M), and Air Pumps ($759k). Over the past 5 years the exports of Singapore to Iran have decreased at an annualized rate of 61%, from $1.1B in 2018 to $10M in 2023.

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

Iran-Singapore Trade: In 2023, Iran exported $3.15M to Singapore. The main products that Iran exported to Singapore were Oxygen Amino Compounds ($973k), Other Nuts ($901k), and Knotted Carpets ($648k). Over the past 5 years the exports of Iran to Singapore have decreased at an annualized rate of 26.4%,  from $14.5M in 2018 to $3.15M in 2023.

In 2023, Iran 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, Iran ranked 58 in the Economic Complexity Index (ECI 0.084), and 92 in total exports ($13.2B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Singapore exported $10M to Iran. The main products exported from Singapore to Iran were Orthopedic Appliances ($2.76M), Packaged Medicaments ($1.46M), and Air Pumps ($759k). During the last 5 years the exports of Singapore to Iran have decreased at an annualized rate of 61%, from $1.1B in 2018 to $10M in 2023.

In 2018, Iran exported $3.15M to Singapore. The main products exported from Iran to Singapore were Oxygen Amino Compounds ($973k), Other Nuts ($901k), and Knotted Carpets ($648k). During the last 5 years the exports of Iran to Singapore have decreased at an annualized rate of 26.4%, from $14.5M in 2023 to $3.15M in 2018.

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

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

Latest Data

Trade between Singapore (Flag) and Iran (Flag)

Singapore Exports

Market Competitiveness

Color
Singapore
Top DestinationHong Kong$44.5B
Iran
Top DestinationChina$4.59B

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

In 2023, countries that imported more from Singapore than Iran included Hong Kong ($44.5B), United States ($32.9B), and China ($36.7B).

In 2023, countries that imported more from Iran than Singapore included Turkey ($2.18B), Armenia ($597M), and Azerbaijan ($473M).

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

Comparative Advantage Singapore - Iran

Flow
Scale

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

During 2023, Singapore had a large net trade with Iran in the exports of Machines ($3.31M), Instruments ($3.1M), and Chemical Products ($1.74M).

During 2018, Iran had a large net trade with Singapore in the exports of Vegetable Products ($1.25M), Chemical Products ($976k), and Textiles ($783k).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Singapore Iran+$2.28MPackaged Medicaments
Top Product Potential Iran Singapore+N/AN/A

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 Iran. This means that a dot/product with the flag of Singapore indicates it has a comparative advantage over Iran. Similarly, a dot/product with the flag of Iran indicates it has a comparative advantage over Singapore.

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

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