2023
Exports
$133BWorld Rnk 12 / 226
Flag Rnk 1 / 21
2023
PRODUCT COMPLEXITY IN Machines
2.12Rnk 2 / 1025
2023
Imports
$182BWorld Rnk 7 / 226
Flag Rnk 1 / 21
2023
ECONOMIC COMPLEXITY of Singapore
1.62Rnk 6 / 132

About

Exports In 2023, Singapore exported $133B in Machines, making it the 12th largest exporter of Machines in the world. At the same year, Machines was the 1st most exported product in Singapore. The main destination of Machines exports from Singapore are: Hong Kong ($36.1B), China ($16.8B), Malaysia ($12.7B), South Korea ($12.6B), and Vietnam ($9.63B).

The fastest growing export markets for Machines of Singapore between 2022 and 2023 were Vietnam ($8.05B), South Korea ($5.92B), and Turkey ($134M).

Imports In 2023, Singapore imported $182B in Machines, becoming the 7th largest importer of Machines in the world. At the same year, Machines was the 1st most imported product in Singapore. Singapore imports Machines primarily from: Chinese Taipei ($42.5B), China ($30.4B), Malaysia ($23.3B), South Korea ($17.8B), and United States ($14B).

The fastest growing import markets in Machines for Singapore between 2022 and 2023 were United Kingdom ($962M), France ($818M), and Italy ($302M).

COMPANIES In 2024, leading companies such as Team Hardinger (97), Panasonic (93), and HP Inc (73) were at the forefront of shipping Machines 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 Machines. 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)$133B
IMPORTS (2023)$182B
NET TRADE (2023)-$48.8B

In 2023, Singapore exported $133B in Machines. The main destinations of Singapore exports on Machines were Hong Kong ($36.1B), China ($16.8B), Malaysia ($12.7B), South Korea ($12.6B), and Vietnam ($9.63B).

In 2023, Singapore imported $182B in Machines, mainly from Chinese Taipei ($42.5B), China ($30.4B), Malaysia ($23.3B), South Korea ($17.8B), and United States ($14B).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Machines EXPORT MARKETS FOR Singapore WERE (2022 - 2023):
Vietnam$8.05B (508%)
South Korea$5.92B (88.2%)
Turkey$134M (70.9%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Machines BY Singapore WERE (2022 - 2023):
Hong Kong-$7.25B (-16.7%)
India-$5.01B (-69.6%)
China-$1.63B (-8.86%)

Change in Exports by Market (2022 - 2023)

Market Concentration

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Flow
Type
In 2023, Singapore's main exporting competitors in Machines were:
In 2023, Singapore's main importing competitors in Machines were:

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Trade Value of Machines by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALChina+ $4.21B
TOP IMPORT POTENTIALChina+ $5.46B

Machines’s highest export potential is China. With an export gap of $4.21B.   Machines’s highest import potential is China with an import gap of $5.46B.

See methodology.

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