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Singapore Trade Summary

2023

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 2023

Overall Exports and Imports for Singapore 2023

Exports and imports of Singapore in 2023 are below, along with number of countries and products

  • The total value of exports (FoB) was 475,349 million.
  • The total value of imports (CIF) was 422,420 million.
  • At the HS6 digit level, 4,237 products were exported to 223 countries and 4,325 products were imported from 226 countries.

Singapore top 5 Export and Import partners 2023

Top five countries to which Singapore exported in 2023 are below, along with the percent of total exports that went to that country:

  1. Singapore exports to China worth US$ 65,585 million, with a partner share of 13.80 percent.
  2. Singapore exports to Hong Kong, China worth US$ 50,413 million, with a partner share of 10.61 percent.
  3. Singapore exports to United States worth US$ 44,923 million, with a partner share of 9.45 percent.
  4. Singapore exports to Malaysia worth US$ 44,454 million, with a partner share of 9.35 percent.
  5. Singapore exports to Indonesia worth US$ 35,368 million, with a partner share of 7.44 percent.

Top five countries from which Singapore imported goods in 2023 are below, along with percent of total imports that came from the country :

  1. Singapore imports from China worth US$ 58,788 million, with a partner share of 13.92 percent.
  2. Singapore imports from United States worth US$ 52,063 million, with a partner share of 12.32 percent.
  3. Singapore imports from Other Asia, nes worth US$ 48,622 million, with a partner share of 11.51 percent.
  4. Singapore imports from Malaysia worth US$ 47,607 million, with a partner share of 11.27 percent.
  5. Singapore imports from Korea, Rep. worth US$ 25,660 million, with a partner share of 6.07 percent.

Singapore Top 5 Productsexports imports at HS 6 digit level 2023

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 102,624,779.17 (US$ Thousands).
  2. Singapore exported Petroleum oils, etc, (excl. crude); preparation , worth 56,937,795.19 (US$ Thousands).
  3. Singapore exported Machines & mechanical appliances nes having ind , worth 20,992,028.96 (US$ Thousands).
  4. Singapore exported Transmission apparatus, for radioteleph incorpo , worth 14,499,997.67 (US$ Thousands).
  5. Singapore exported Gold in oth semi-manufactured forms,non-monetar , worth 11,483,876.29 (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 84,463,445.19 (US$ Thousands).
  2. Singapore imported Petroleum oils, etc, (excl. crude); preparation , worth 53,128,996.32 (US$ Thousands).
  3. Singapore imported Petroleum oils and oils obtained from bituminou , worth 27,442,345.21 (US$ Thousands).
  4. Singapore imported Transmission apparatus, for radioteleph incorpo , worth 11,872,499.28 (US$ Thousands).
  5. Singapore imported Parts of turbo-jets or turbo-propellers , worth 10,850,575.44 (US$ Thousands).

Exports and Imports of Product Groups 2023

Exports and imports of products by stages of processing in 2023 are below along with their corresponding Product Share as percent of total export or import

Tariffs 2023

Tariffs imposed by Singapore in 2023 are below

  • The maximum rate of tariff in percentage on any product was 367.88 percent.
  • The simple average tariff across all products was 0.06 percent.
  • The trade weighted average tariff was 0 .
  • The total duty free imports in thousands of US dollars were 361,879,981.09 and duty free tariff line items share was 99.96 percent.

Development Indicators 2023

Key Development Indicators of Singapore in 2023 are below

  • Singapore GDP in current US dollar was 505,440 million.
  • GNI per capita, Atlas method (current US$) was 69,850.00 .
  • Singapore Trade balance: as % of GDP was 37.43.
  • Trade balance in current US$ was 189,183.00 million.
  • Trade as percentage of GDP was 325.69 .
  • Trade in services as percentage of GDP was 135.43 .

Trade Indicators 2023

Trade Indicators for Singapore in 2023 are below

  • Hirschman Herfindahl market concentration index was 0.07.
  • Index of export market penetration was 12.95.
  • World Growth in percentage was -3.13 and Singapore Country Growth was -4.14 .