2023
Exports
$130MWorld Rnk 20 / 150
Flag Rnk 179 / 1202
2023
PRODUCT COMPLEXITY IN Palm Oil
-2.25Rnk 1010 / 1025
2023
Imports
$207MWorld Rnk 45 / 206
Flag Rnk 183 / 1208
2023
ECONOMIC COMPLEXITY of Singapore
1.62Rnk 6 / 132

About

Exports In 2023, Singapore exported $130M in Palm Oil, making it the 20th largest exporter of Palm Oil in the world. At the same year, Palm Oil was the 179th most exported product in Singapore. The main destination of Palm Oil exports from Singapore are: Kenya ($25.2M), United States ($13.2M), Cameroon ($12.8M), Malaysia ($10.5M), and Croatia ($10.5M).

The fastest growing export markets for Palm Oil of Singapore between 2022 and 2023 were Cameroon ($10.5M), Croatia ($9.27M), and Mauritania ($5.39M).

Imports In 2023, Singapore imported $207M in Palm Oil, becoming the 45th largest importer of Palm Oil in the world. At the same year, Palm Oil was the 183rd most imported product in Singapore. Singapore imports Palm Oil primarily from: Malaysia ($127M), Indonesia ($68.6M), Turkey ($10.8M), China ($78.2k), and Spain ($50.6k).

The fastest growing import markets in Palm Oil for Singapore between 2022 and 2023 were Indonesia ($19.8M), Turkey ($10.8M), and China ($78.2k).

COMPANIES In 2024, leading companies such as Chevron (3) were at the forefront of shipping Palm Oil 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 Palm Oil. 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)$130M
IMPORTS (2023)$207M
NET TRADE (2023)-$77.3M

In 2023, Singapore exported $130M in Palm Oil. The main destinations of Singapore exports on Palm Oil were Kenya ($25.2M), United States ($13.2M), Cameroon ($12.8M), Malaysia ($10.5M), and Croatia ($10.5M).

In 2023, Singapore imported $207M in Palm Oil, mainly from Malaysia ($127M), Indonesia ($68.6M), Turkey ($10.8M), China ($78.2k), and Spain ($50.6k).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Palm Oil EXPORT MARKETS FOR Singapore WERE (2022 - 2023):
Cameroon$10.5M (445%)
Croatia$9.27M (783%)
Mauritania$5.39M (197%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Palm Oil BY Singapore WERE (2022 - 2023):
India-$438M (-99.9%)
Iran-$157M (-100%)
Israel-$36.4M (-99.5%)

Change in Exports by Market (2022 - 2023)

Market Concentration

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Flow
Type
In 2023, Singapore's main exporting competitors in Palm Oil were:
In 2023, Singapore's main importing competitors in Palm Oil were:
India $8.7B
China $4.85B

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Trade Value of Palm Oil by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALMalaysia+ $17.4M
TOP IMPORT POTENTIALMalaysia+ $69.3M

Palm Oil’s highest export potential is Malaysia. With an export gap of $17.4M.   Palm Oil’s highest import potential is Malaysia with an import gap of $69.3M.

See methodology.

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