2022
Exports
$69.2BWorld Rnk 16 / 216
Flag Rnk 2 / 96
2022
PRODUCT COMPLEXITY IN Mineral fuels, mineral oils and products of their distillation
0.48Rnk 371 / 1025
2022
Imports
$101BWorld Rnk 11 / 225
Flag Rnk 2 / 96
2022
ECONOMIC COMPLEXITY of Singapore
1.68Rnk 6 / 133

About

Exports In 2022, Singapore exported $69.2B in Mineral fuels, mineral oils and products of their distillation, making it the 16th largest exporter of Mineral fuels, mineral oils and products of their distillation in the world. At the same year, Mineral fuels, mineral oils and products of their distillation was the 2nd most exported product in Singapore. The main destination of Mineral fuels, mineral oils and products of their distillation exports from Singapore are: Malaysia ($11.6B), Australia ($10.5B), Indonesia ($9.72B), India ($4.63B), and Burma ($3.55B).

The fastest growing export markets for Mineral fuels, mineral oils and products of their distillation of Singapore between 2021 and 2022 were Malaysia ($4.79B), Australia ($3.64B), and Indonesia ($3.26B).

Imports In 2022, Singapore imported $101B in Mineral fuels, mineral oils and products of their distillation, becoming the 11th largest importer of Mineral fuels, mineral oils and products of their distillation in the world. At the same year, Mineral fuels, mineral oils and products of their distillation was the 2nd most imported product in Singapore. Singapore imports Mineral fuels, mineral oils and products of their distillation primarily from: United Arab Emirates ($12.3B), United States ($11.5B), Malaysia ($11.1B), China ($8.65B), and South Korea ($7.32B).

The fastest growing import markets in Mineral fuels, mineral oils and products of their distillation for Singapore between 2021 and 2022 were United States ($6.56B), China ($3.17B), and South Korea ($2.89B).

COMPANIES In 2023, leading companies such as Motorola (4), Electrolux (2), and Team Hardinger (1) were at the forefront of shipping Mineral fuels, mineral oils and products of their distillation from Singapore to the United States.

Latest Trends

Jul 2024

Subnational Monthly Trade

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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 Mineral fuels, mineral oils and products of their distillation. 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)$69.2B
IMPORTS (2022)$101B
NET TRADE (2022)-$32B

In 2022, Singapore exported $69.2B in Mineral fuels, mineral oils and products of their distillation. The main destinations of Singapore exports on Mineral fuels, mineral oils and products of their distillation were Malaysia ($11.6B), Australia ($10.5B), Indonesia ($9.72B), India ($4.63B), and Burma ($3.55B).

In 2022, Singapore imported $101B in Mineral fuels, mineral oils and products of their distillation, mainly from United Arab Emirates ($12.3B), United States ($11.5B), Malaysia ($11.1B), China ($8.65B), and South Korea ($7.32B).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Mineral fuels, mineral oils and products of their distillation EXPORT MARKETS FOR Singapore WERE (2021 - 2022):
Malaysia$4.79B (70.6%)
Australia$3.64B (52.8%)
Indonesia$3.26B (50.6%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Mineral fuels, mineral oils and products of their distillation BY Singapore WERE (2021 - 2022):
China-$1.42B (-33.7%)
South Korea-$479M (-42.7%)
Brunei-$146M (-53%)

Change in Exports by Market (2021 - 2022)

Market Concentration

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In 2022, Singapore's main exporting competitors in Mineral fuels, mineral oils and products of their distillation were:
In 2022, Singapore's main importing competitors in Mineral fuels, mineral oils and products of their distillation were:

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Trade Value of Mineral fuels, mineral oils and products of their distillation by Exporters

Potential Exports

Potential Exports

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TOP EXPORT POTENTIALChina+ $954M
TOP IMPORT POTENTIALIndia+ $1.98B

Mineral fuels, mineral oils and products of their distillation’s highest export potential is China. With an export gap of $954M.   Mineral fuels, mineral oils and products of their distillation’s highest import potential is India with an import gap of $1.98B.

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