2022
Exports
$96.6MWorld Rnk 74 / 149
Flag Rnk 229 / 1198
2022
PRODUCT COMPLEXITY IN Crude Petroleum
-2.25Rnk 1011 / 1025
2022
Imports
$32.6BWorld Rnk 13 / 158
Flag Rnk 3 / 1213
2022
ECONOMIC COMPLEXITY of Singapore
1.68Rnk 6 / 133

About

Exports In 2022, Singapore exported $96.6M in Crude Petroleum, making it the 74th largest exporter of Crude Petroleum in the world. At the same year, Crude Petroleum was the 229th most exported product in Singapore. The main destination of Crude Petroleum exports from Singapore are: China ($90.7M), Malaysia ($5.73M), United States ($118k), Mexico ($12.5k), and Canada ($9.26k).

The fastest growing export markets for Crude Petroleum of Singapore between 2021 and 2022 were China ($90.7M), United States ($118k), and Mexico ($12.5k).

Imports In 2022, Singapore imported $32.6B in Crude Petroleum, becoming the 13th largest importer of Crude Petroleum in the world. At the same year, Crude Petroleum was the 3rd most imported product in Singapore. Singapore imports Crude Petroleum primarily from: United States ($9.57B), United Arab Emirates ($8.22B), Saudi Arabia ($3.51B), Qatar ($2.82B), and Kazakhstan ($1.81B).

The fastest growing import markets in Crude Petroleum for Singapore between 2021 and 2022 were United States ($6.58B), United Arab Emirates ($2.09B), and Saudi Arabia ($1.41B).

Latest Trends

Oct 2024

Subnational Monthly Trade

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Flow
Y-AXIS SCALE

For a full breakdown of trade patterns, visit the trend explorer or the product in country profile.

The following visualization shows the latest trends on Crude Petroleum. Countries are shown based on data availability.

* Using January 2020 exchange rates when trade data is reported in local currency.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$96.6M
IMPORTS (2022)$32.6B
NET TRADE (2022)-$32.5B

In 2022, Singapore exported $96.6M in Crude Petroleum. The main destinations of Singapore exports on Crude Petroleum were China ($90.7M), Malaysia ($5.73M), United States ($118k), Mexico ($12.5k), and Canada ($9.26k).

In 2022, Singapore imported $32.6B in Crude Petroleum, mainly from United States ($9.57B), United Arab Emirates ($8.22B), Saudi Arabia ($3.51B), Qatar ($2.82B), and Kazakhstan ($1.81B).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Crude Petroleum EXPORT MARKETS FOR Singapore WERE (2021 - 2022):
China$90.7M (1%)
United States$118k (1%)
Mexico$12.5k (1%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Crude Petroleum BY Singapore WERE (2021 - 2022):
Australia-$219M (-100%)
Brunei-$196M (-100%)
New Zealand-$41.9M (-100%)

Change in Exports by Market (2021 - 2022)

Market Concentration

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Flow
Type
In 2022, Singapore's main exporting competitors in Crude Petroleum were:
In 2022, Singapore's main importing competitors in Crude Petroleum were:

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Trade Value of Crude Petroleum by Exporters

Potential Exports

Potential Exports

Flow
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TOP EXPORT POTENTIALChina+ $69.5M
TOP IMPORT POTENTIALIraq+ $669M

Crude Petroleum’s highest export potential is China. With an export gap of $69.5M.   Crude Petroleum’s highest import potential is Iraq with an import gap of $669M.

See methodology.

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