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Singapore Trade Summary

2020

Singapore exports, imports, tariff by year.

Country and Region
Year
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Please note the exports, imports and tariff data are based on reported data and not gap filled. Please check the Data Availability for coverage.

Imports/Exports


Products

TRADE SUMMARY FOR SINGAPORE 2020

Overall Exports and Imports for Singapore 2020

Exports and imports of Singapore in 2020 are below, along with number of countries and products

  • The total value of exports (FoB) was 373,684 million.
  • The total value of imports (CIF) was 328,624 million.
  • At the HS6 digit level, 4,239 products were exported to 219 countries and 4,301 products were imported from 225 countries.

Singapore top 5 Export and Import partners 2020

Top five countries to which Singapore exported in 2020 are below, along with the percent of total exports that went to that country:

  1. Singapore exports to China worth US$ 51,339 million, with a partner share of 13.74 percent.
  2. Singapore exports to Hong Kong, China worth US$ 46,194 million, with a partner share of 12.36 percent.
  3. Singapore exports to United States worth US$ 40,226 million, with a partner share of 10.76 percent.
  4. Singapore exports to Malaysia worth US$ 33,264 million, with a partner share of 8.90 percent.
  5. Singapore exports to Indonesia worth US$ 21,428 million, with a partner share of 5.73 percent.

Top five countries from which Singapore imported goods in 2020 are below, along with percent of total imports that came from the country :

  1. Singapore imports from China worth US$ 47,368 million, with a partner share of 14.41 percent.
  2. Singapore imports from Malaysia worth US$ 41,706 million, with a partner share of 12.69 percent.
  3. Singapore imports from Other Asia, nes worth US$ 36,283 million, with a partner share of 11.04 percent.
  4. Singapore imports from United States worth US$ 35,154 million, with a partner share of 10.70 percent.
  5. Singapore imports from Japan worth US$ 18,108 million, with a partner share of 5.51 percent.

Singapore Top 5 Productsexports imports at HS 6 digit level 2020

The top five exported HS 6 digit level products to world by Singapore along with trade value are:

  1. Singapore exported Monolithic integrated circuits, digital , worth 84,844,704.22 (US$ Thousands).
  2. Singapore exported Petroleum oils, etc, (excl. crude); preparation , worth 27,391,562.13 (US$ Thousands).
  3. Singapore exported Gold in oth semi-manufactured forms,non-monetar , worth 15,662,673.92 (US$ Thousands).
  4. Singapore exported Transmission apparatus, for radioteleph incorpo , worth 8,691,791.49 (US$ Thousands).
  5. Singapore exported Parts and accessories of automatic data process , worth 7,106,820.36 (US$ Thousands).

The top five imported HS 6 digit level products from world by Singapore along with trade value are

  1. Singapore imported Monolithic integrated circuits, digital , worth 69,309,911.35 (US$ Thousands).
  2. Singapore imported Petroleum oils, etc, (excl. crude); preparation , worth 31,234,549.72 (US$ Thousands).
  3. Singapore imported Gold in oth semi-manufactured forms,non-monetar , worth 15,247,573.12 (US$ Thousands).
  4. Singapore imported Petroleum oils and oils obtained from bituminou , worth 14,376,394.88 (US$ Thousands).
  5. Singapore imported Transmission apparatus, for radioteleph incorpo , worth 8,793,428.69 (US$ Thousands).

Exports and Imports of Product Groups 2020

Exports and imports of products by stages of processing in 2020 are below along with their corresponding Product Share as percent of total export or import

Tariffs 2020

Tariffs imposed by Singapore in 2020 are below

  • The maximum rate of tariff in percentage on any product was 417.32 percent.
  • The simple average tariff across all products was 0.17 percent.
  • The trade weighted average tariff was 0.05 .
  • The total duty free imports in thousands of US dollars were 292,220,150.16 and duty free tariff line items share was 99.90 percent.

Development Indicators 2020

Key Development Indicators of Singapore in 2020 are below

  • Singapore GDP in current US dollar was 348,392 million.
  • GNI per capita, Atlas method (current US$) was 55,260.00 .
  • Singapore Trade balance: as % of GDP was 31.20.
  • Trade balance in current US$ was 108,710.00 million.
  • Trade as percentage of GDP was 332.77 .
  • Trade in services as percentage of GDP was 122.24 .

Trade Indicators 2020

Trade Indicators for Singapore in 2020 are below

  • Hirschman Herfindahl market concentration index was 0.07.
  • Index of export market penetration was 13.34.
  • World Growth in percentage was -3.77 and Singapore Country Growth was -2.39 .