Singapore (SGP) and New Zealand (NZL) Trade | The Observatory of Economic Complexity

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Singapore-New Zealand Trade: In 2023, Singapore exported $3.16B to New Zealand. The main products that Singapore exported to New Zealand were Refined Petroleum ($2.33B), Gas Turbines ($272M), and Other Edible Preparations ($95.1M). Over the past 5 years the exports of Singapore to New Zealand have increased at an annualized rate of 10.3%, from $1.94B in 2018 to $3.16B in 2023.

In 2023, Singapore did not export any services to New Zealand.

New Zealand-Singapore Trade: In 2023, New Zealand exported $794M to Singapore. The main products that New Zealand exported to Singapore were Concentrated Milk ($188M), Crude Petroleum ($128M), and Butter ($47.5M). Over the past 5 years the exports of New Zealand to Singapore have decreased at an annualized rate of 2.38%, from $896M in 2018 to $794M in 2023.

In 2018, New Zealand exported services to Singapore worth $1.24B, with Travel ($649M), Other business services ($325M), and Transportation ($219M) being the largest in terms of value.

Comparison: In 2023, Singapore ranked 6 in the Economic Complexity Index (ECI 1.62), and 24 in total exports ($333B). That same year, New Zealand ranked 43 in the Economic Complexity Index (ECI 0.48), and 61 in total exports ($44.5B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, Singapore exported $3.16B to New Zealand. The main products exported from Singapore to New Zealand were Refined Petroleum ($2.33B), Gas Turbines ($272M), and Other Edible Preparations ($95.1M). During the last 5 years the exports of Singapore to New Zealand have increased at an annualized rate of 10.3%, from $1.94B in 2018 to $3.16B in 2023.

In 2018, New Zealand exported $794M to Singapore. The main products exported from New Zealand to Singapore were Concentrated Milk ($188M), Crude Petroleum ($128M), and Butter ($47.5M). During the last 5 years the exports of New Zealand to Singapore have decreased at an annualized rate of 2.38%, from $896M in 2023 to $794M in 2018.

Exports from Singapore () to New Zealand () (2023)

Exports from New Zealand () to Singapore () (2023)

Latest Data

Trade between Singapore () and New Zealand ()

Singapore Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Singapore
Top DestinationHong Kong$44.5B

New Zealand
Top DestinationChina$12.3B

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

In 2023, countries that imported more from Singapore than New Zealand included Hong Kong ($44.5B), Malaysia ($31.4B), and United States ($32.9B).

In 2023, countries that imported more from New Zealand than Singapore included Algeria ($599M), Trinidad and Tobago ($127M), and Cook Islands ($93.7M).

Difference in imports from New Zealand () and Singapore () (2023)

Comparative Advantage Singapore - New Zealand

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Singapore had a large net trade with New Zealand in the exports of Mineral Products ($2.34B), Machines ($387M), and Foodstuffs ($140M).

During 2018, New Zealand had a large net trade with Singapore in the exports of Animal Products ($349M), Mineral Products ($129M), and Foodstuffs ($90.6M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Singapore New Zealand+$7.28MPackaged Medicaments

Top Product Potential New Zealand Singapore+$11.1MRefined 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

Nzl Year

In 2018, New Zealand exported services to Singapore worth $1.24B, with Travel ($649M), Other business services ($325M), and Transportation ($219M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from New Zealand () to Singapore () (2018)

Service Trade

Economic Complexity

Competitive Landscape

Year

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

About

Historical Data

Bilateral Trade by Products

Exports from Singapore () to New Zealand () (2023)

Exports from New Zealand () to Singapore () (2023)

Latest Data

Trade between Singapore () and New Zealand ()

Singapore Exports

Market Competitiveness

Difference in imports from New Zealand () and Singapore () (2023)

Comparative Advantage Singapore - New Zealand

Potential Exports

Potential Exports

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Bilateral Service Trade

Services Exports from New Zealand () to Singapore () (2018)

Service Trade

Economic Complexity

Competitive Landscape

Product Space of Singapore () and New Zealand () (2023)

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