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2023
Flag → Flag
Exports $895MRnk 32 / 217
2023
Flag → Flag
Top Product $625MRefined Petroleum
2023
Flag → Flag
Exports $115MRnk 28 / 200
2023
Flag → Flag
Top Product $9.51MElectrical Control Boards
2023
Flag
Economic Complexity (ECI) ECI 1.62Rnk 6 / 132
2023
Flag
Economic Complexity (ECI) ECI -0.44Rnk 85 / 132
2023
Flag  
GDP$501BCURRENT US$
Rnk 30 / 195
2013-2023
Flag
GDP GROWTH63%CURRENT US$
Rnk 47 / 195
2023
Flag
 GDP$84.4BCURRENT US$
Rnk 75 / 195
2013-2023
Flag
GDP GROWTH9.55%CURRENT US$
Rnk 157 / 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$3,828CURRENT US$
Rnk 132 / 196
2013-2023
Flag
GDP PC GROWTH2.34%CURRENT US$
Rnk 150 / 195

About

Singapore-Sri Lanka Trade: In 2023, Singapore exported $895M to Sri Lanka. The main products that Singapore exported to Sri Lanka were Refined Petroleum ($625M), Gold ($65.3M), and Pesticides ($14.8M). Over the past 5 years the exports of Singapore to Sri Lanka have decreased at an annualized rate of 12.6%, from $1.75B in 2018 to $895M in 2023.

In 2023, Singapore did not export any services to Sri Lanka.

Sri Lanka-Singapore Trade: In 2023, Sri Lanka exported $115M to Singapore. The main products that Sri Lanka exported to Singapore were Electrical Control Boards ($9.51M), Refined Petroleum ($7.73M), and Precious Stones ($6.36M). Over the past 5 years the exports of Sri Lanka to Singapore have increased at an annualized rate of 4.12%,  from $94.1M in 2018 to $115M in 2023.

In 2023, Sri Lanka 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, Sri Lanka ranked 85 in the Economic Complexity Index (ECI -0.44), and 90 in total exports ($13.8B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Singapore exported $895M to Sri Lanka. The main products exported from Singapore to Sri Lanka were Refined Petroleum ($625M), Gold ($65.3M), and Pesticides ($14.8M). During the last 5 years the exports of Singapore to Sri Lanka have decreased at an annualized rate of 12.6%, from $1.75B in 2018 to $895M in 2023.

In 2018, Sri Lanka exported $115M to Singapore. The main products exported from Sri Lanka to Singapore were Electrical Control Boards ($9.51M), Refined Petroleum ($7.73M), and Precious Stones ($6.36M). During the last 5 years the exports of Sri Lanka to Singapore have increased at an annualized rate of 4.12%, from $94.1M in 2023 to $115M in 2018.

Exports from Singapore (Flag) to Sri Lanka (Flag) (2023)

Exports from Sri Lanka (Flag) to Singapore (Flag) (2023)

Market Competitiveness

Color
Singapore
Top DestinationHong Kong$44.5B
Sri Lanka
Top DestinationUnited States$2.98B

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

In 2023, countries that imported more from Singapore than Sri Lanka included Hong Kong ($44.5B), China ($36.7B), and Malaysia ($31.4B).

In 2023, countries that imported more from Sri Lanka than Singapore included Iraq ($131M), Syria ($43.4M), and Iran ($44.2M).

Difference in imports from Sri Lanka (Flag) and Singapore (Flag) (2023)

Comparative Advantage Singapore - Sri Lanka

Flow
Scale

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

During 2023, Singapore had a large net trade with Sri Lanka in the exports of Mineral Products ($626M), Precious Metals ($74.3M), and Chemical Products ($57.4M).

During 2018, Sri Lanka had a large net trade with Singapore in the exports of Machines ($30.5M), Textiles ($19.1M), and Vegetable Products ($12.5M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Singapore Sri Lanka+$79.2MRefined Petroleum
Top Product Potential Sri Lanka Singapore+$2.63MKnit T-shirts

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

Product Space of Singapore (Flag) and Sri Lanka (Flag) (2023)

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