2023
Exports
$1.71BWorld Rnk 32 / 226
Flag Rnk 16 / 96
2023
PRODUCT COMPLEXITY IN Iron or steel articles
1.67Rnk 25 / 1025
2023
Imports
$4.34BWorld Rnk 26 / 226
Flag Rnk 11 / 96
2023
ECONOMIC COMPLEXITY of Singapore
1.62Rnk 6 / 132

About

Exports In 2023, Singapore exported $1.71B in Iron or steel articles, making it the 32nd largest exporter of Iron or steel articles in the world. At the same year, Iron or steel articles was the 16th most exported product in Singapore. The main destination of Iron or steel articles exports from Singapore are: Malaysia ($614M), Indonesia ($188M), Thailand ($73M), China ($70.7M), and United States ($48.5M).

The fastest growing export markets for Iron or steel articles of Singapore between 2022 and 2023 were Malaysia ($112M), Angola ($28.7M), and Brazil ($22.3M).

Imports In 2023, Singapore imported $4.34B in Iron or steel articles, becoming the 26th largest importer of Iron or steel articles in the world. At the same year, Iron or steel articles was the 11th most imported product in Singapore. Singapore imports Iron or steel articles primarily from: China ($1.2B), Malaysia ($755M), Japan ($342M), United States ($342M), and Thailand ($329M).

The fastest growing import markets in Iron or steel articles for Singapore between 2022 and 2023 were Thailand ($273M), Italy ($49M), and Malaysia ($47.5M).

COMPANIES In 2024, leading companies such as SIGMA Corp (239), REI (Recreational Equipment Incorporated) (90), and Robert Bosch (11) were at the forefront of shipping Iron or steel articles from Singapore to the United States.

Latest Trends

Dec 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 Iron or steel articles. 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 (2023)$1.71B
IMPORTS (2023)$4.34B
NET TRADE (2023)-$2.62B

In 2023, Singapore exported $1.71B in Iron or steel articles. The main destinations of Singapore exports on Iron or steel articles were Malaysia ($614M), Indonesia ($188M), Thailand ($73M), China ($70.7M), and United States ($48.5M).

In 2023, Singapore imported $4.34B in Iron or steel articles, mainly from China ($1.2B), Malaysia ($755M), Japan ($342M), United States ($342M), and Thailand ($329M).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Iron or steel articles EXPORT MARKETS FOR Singapore WERE (2022 - 2023):
Malaysia$112M (22.3%)
Angola$28.7M (620%)
Brazil$22.3M (161%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Iron or steel articles BY Singapore WERE (2022 - 2023):
Norway-$139M (-90.7%)
India-$92.2M (-73.9%)
Saudi Arabia-$28.9M (-38%)

Change in Exports by Market (2022 - 2023)

Market Concentration

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Flow
Type
In 2023, Singapore's main exporting competitors in Iron or steel articles were:
In 2023, Singapore's main importing competitors in Iron or steel articles were:

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Trade Value of Iron or steel articles by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $52.3M
TOP IMPORT POTENTIALChina+ $117M

Iron or steel articles’s highest export potential is United States. With an export gap of $52.3M.   Iron or steel articles’s highest import potential is China with an import gap of $117M.

See methodology.

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