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2023
Flag → Flag
Exports $14.6MRnk 133 / 217
2023
Flag → Flag
Top Product $3.28MUncoated Paper
2023
Flag → Flag
Exports $85.4MRnk 15 / 156
2023
Flag → Flag
Top Product $43.1MCloves
2023
Flag
Economic Complexity (ECI) ECI 1.62Rnk 6 / 132
2023
Flag
Economic Complexity (ECI) ECI -1.15Rnk 117 / 132
2023
Flag  
GDP$501BCURRENT US$
Rnk 30 / 195
2013-2023
Flag
GDP GROWTH63%CURRENT US$
Rnk 47 / 195
2023
Flag
 GDP$15.8BCURRENT US$
Rnk 134 / 195
2013-2023
Flag
GDP GROWTH27.1%CURRENT US$
Rnk 120 / 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$506CURRENT US$
Rnk 192 / 196
2013-2023
Flag
GDP PC GROWTH-1.77%CURRENT US$
Rnk 155 / 195

About

Singapore-Madagascar Trade: In 2023, Singapore exported $14.6M to Madagascar. The main products that Singapore exported to Madagascar were Uncoated Paper ($3.28M), Refined Petroleum ($2.94M), and Railway Cargo Containers ($2.3M). Over the past 5 years the exports of Singapore to Madagascar have decreased at an annualized rate of 21.1%, from $47.8M in 2018 to $14.6M in 2023.

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

Madagascar-Singapore Trade: In 2023, Madagascar exported $85.4M to Singapore. The main products that Madagascar exported to Singapore were Cloves ($43.1M), Cobalt ($18.9M), and Raw Nickel ($6.43M). Over the past 5 years the exports of Madagascar to Singapore have increased at an annualized rate of 5.14%,  from $60.2M in 2018 to $85.4M in 2023.

In 2023, Madagascar 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, Madagascar ranked 117 in the Economic Complexity Index (ECI -1.15), and 133 in total exports ($4.3B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Singapore exported $14.6M to Madagascar. The main products exported from Singapore to Madagascar were Uncoated Paper ($3.28M), Refined Petroleum ($2.94M), and Railway Cargo Containers ($2.3M). During the last 5 years the exports of Singapore to Madagascar have decreased at an annualized rate of 21.1%, from $47.8M in 2018 to $14.6M in 2023.

In 2018, Madagascar exported $85.4M to Singapore. The main products exported from Madagascar to Singapore were Cloves ($43.1M), Cobalt ($18.9M), and Raw Nickel ($6.43M). During the last 5 years the exports of Madagascar to Singapore have increased at an annualized rate of 5.14%, from $60.2M in 2023 to $85.4M in 2018.

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

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

Latest Data

Trade between Singapore (Flag) and Madagascar (Flag)

Singapore Exports

Madagascar Exports

Market Competitiveness

Color
Singapore
Top DestinationHong Kong$44.5B
Madagascar
Top DestinationUnited States$669M

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

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

In 2023, countries that imported more from Madagascar than Singapore included Mauritius ($46.5M), Comoros ($7.69M), and Afghanistan ($2.72M).

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

Comparative Advantage Singapore - Madagascar

Flow
Scale

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

During 2023, Singapore had a large net trade with Madagascar in the exports of Paper Goods ($3.29M), Mineral Products ($2.94M), and Transportation ($2.74M).

During 2018, Madagascar had a large net trade with Singapore in the exports of Vegetable Products ($46.4M), Metals ($25.3M), and Chemical Products ($5.02M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Singapore Madagascar+$37.6MRefined Petroleum
Top Product Potential Madagascar Singapore+$1.44MEthers

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

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

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