Singapore Bilateral Trade with Asian Countries – Singapore Trade Data

20 October 2020
Singapore Trade Data

The trade balance between Singapore and Asia totaled USD 46.2 billion in 2019 as its exports were higher than imports. It is one of the largest trading countries in the Asian continent. According to Singapore customs data, Singapore majorly trade electrical machinery and equipment with Asian countries. Check & analyze bilateral trade between Singapore and Asia from Singapore trade statistics and market information based on actual shipment records.


Singapore Trade with Asian Countries


The value of Singapore imports from Asian countries totaled USD 236.8 billion in 2019. That dollar amount declined as compared to previous year when Singapore imported goods worth USD 246.3 billion from Asian exporters.  Singapore imported 66% worth of goods from countries in Asian continent.


In terms of exports, the value of Singapore exports to Asian countries totaled USD 283.0 billion in 2019. That dollar amount also declined as compared to 2018’s USD 300.9 billion. Singapore exported 72.5% worth of goods to Asian countries.


Singapore’s Top 10 Imports from Asian Countries 2019


Singapore imported electrical machinery and equipment the most from fellow Asian countries in 2019. Other major imports were mineral fuels & oils, machinery, pearls & precious stones, plastics, optical, photographic, medical equipment and organic chemicals. Below given chart and table shows dollar amount of Singapore’s top 10 import commodities from Asian countries in 2019.


Product Category

Value USD Billion

Electrical Machinery and Equipment

86.1

Mineral Fuels & Oils

59.3

Machinery

27.5

Pearls & Precious Stones

12.1

Plastics

6.0

Optical, Photographic, Medical Equipment

5.3

Organic Chemicals

3.2

Vehicles

2.8

Articles of Iron and Steel

2.4

Miscellaneous Chemical Products

2.3

 


Singapore’s Top 10 Import Partners in Asia 2019


Singapore’s top 10 import partners in Asia 2019 were China (USD 49.0 billion), Malaysia (USD 41.6 billion), Taipei, Chinese (USD 32.3 billion), Japan (USD 19.3 billion), Indonesia (USD 15.6 billion), South Korea (USD 13.7 billion), United Arab Emirates (USD 11.5 billion), Saudi Arabia (USD 8.3 billion), Thailand (USD 7.6 billion) and Philippines (USD 7.0 billion).


According to Singapore import statistics, these countries accounted 57.4% to overall value of shipments. Below given chart and table shows percentage share of these countries.


Country

Value USD %

China

13.7

Malaysia

11.6

Taipei, Chinese

9.0

Japan

5.4

Indonesia

4.3

South Korea

3.8

United Arab Emirates

3.2

Saudi Arabia

2.3

Thailand

2.1

Philippines

2.0

 


Singapore’s Top 10 Exports to Asian Countries 2019


Singapore exported electrical machinery and equipment the most to fellow Asian countries in 2019. Other major exports were machinery, mineral fuels & oils, pearls & precious stones, plastics, optical, photographic, medical equipment, essential oils and organic chemicals. Below given chart and table shows dollar amount of Singapore’s top 10 export commodities to Asian countries in 2019.


Product Category

Value USD Billion

Electrical Machinery and Equipment

99.8

Machinery

39.0

Mineral Fuels & Oils

37.2

Pearls & Precious Stones

15.0

Plastics

13.2

Optical, Photographic, Medical Equipment

12.2

Essential Oils and Resinoids

8.8

Organic Chemicals

7.6

Miscellaneous Chemical Products

4.8

Aircraft, Spacecraft and Parts

4.3

 


Singapore’s Top 10 Export Partners in Asia 2019


The top 10 export partners of Singapore in Asia 2019 were China (USD 51.6 billion), Hong Kong (USD 44.3 billion), Malaysia (USD 41.1 billion), Indonesia (USD 27.3 billion), Japan (USD 17.6 billion), Taipei, Chinese (USD 16.3 billion), Thailand (USD 15.3 billion), South Korea (USD 15.2 billion), Vietnam (USD 12.9 billion) and India (USD 11.4 billion).


According to Singapore export statistics, these countries shared 64.8% to total commodities exported from fellow Asian countries. Below given chart and table shows percentage share of these countries.


Country

Value USD %

China

13.2

Hong Kong

11.4

Malaysia

10.5

Indonesia

7.0

Japan

4.5

Taipei, Chinese

4.2

Thailand

3.9

South Korea

3.9

Vietnam

3.3

India

2.9

 


Singapore enjoy trade surplus with Asian countries in 2019. It was the 5th largest exporter country and 6th largest importer country in the Asian continent during last year. Get the latest market intelligence information on bilateral trade between Singapore and Asia right here.


Check shipment details of your selected product which is imported by Singapore by clicking on Product Wise Import Data. Also, see samples of products which are exported by Singapore by clicking on Product Wise Export Data


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