As trade lies at the heart of the country’s economy, Singapore import and export by country data can reveal its strengths and dependencies. This article provides a detailed look at Singapore’s latest trade values, trading partners, and how imports and exports stack up by country and commodity.
By providing credible and up-to-date data from the official source, SingStat, this article will definitely help business leaders, analysts, or students to see patterns and opportunities in Singapore’s trading landscape.
International Trade Overview in Singapore
In 2024, Singapore’s total merchandise trade (imports + exports) reached S$1,285.9 billion. This amount is 6.6% increased compared to the previous year, reflecting continued global demand.
| Year | Export (S$ billion) | Import (S$ billion) |
| 2024 | S$674.5 | S$611.4 |
| 2023 | S$638.4 | S$567.3 |
| 2022 | S$710.0 | S$655.4 |
| 2021 | S$614.1 | S$545.9 |
| 2020 | S$515.6 | S$453.5 |
In terms of non-oil merchandise, machinery & transport equipment, chemicals & chemical products, and miscellaneous manufactured articles remain the prominent commodities in Singapore’s export by 2024.
| Merchandise | Export (S$ billion) | Import (S$ billion) |
| Machinery & Transport Equipment | S$363.2 | S$322.1 |
| Chemicals & Chemical Products | S$69.5 | S$42.8 |
| Miscellaneous Manufactured Articles | S$57.6 | S$47.7 |
Singapore’s Top Trading Partners by Total Trade
The countries that are top-ranked as Singapore’s trading partners in 2024 include Mainland China, Malaysia, and the US. Singapore import and export by country data shows that the country runs a trade surplus with Mainland China and Malaysia, while with the US, the trade flow is more import-weighted.
| Rank | Partner Country | Total Merchandise Trade (S$ billion) | Total Merchandise Trade (%) | Key Notes |
| 1 | Mainland China | S$170.2 | 13.2 | Singapore's exports to China exceeded its imports from China |
| 2 | Malaysia | S$138.6 | 10.8 | Singapore exported more goods to Malaysia than it imported |
| 3 | United States | S$132.0 | 10.3 | Singapore imported more goods from the US than it exported |
| 4 | Taiwan | S$116.8 | 9.1 | Singapore's exports to Taiwan were higher than its imports |
| 5 | EU | S$100.8 | 7.8 | Singapore imported more goods from the EU than it exported |
| 6 | Hong Kong | S$78.6 | 6.1 | Singapore's exports to Hong Kong were higher than its imports |
| 7 | Indonesia | S$74.2 | 5.8 | Singapore imported more goods from Indonesia than it exported |
| 8 | Republic of Korea | S$66.8 | 5.2 | Singapore's exports to Korea were higher than its imports |
| 9 | Japan | S$53.4 | 4.2 | Singapore imported more goods from Japan than it exported |
| 10 | Thailand | S$44.5 | 3.5 | Singapore's exports to Thailand were higher than its imports |
Singapore’s Import Partners
According to SingStat (2023) of Singapore import data, the United States was ranked first place as Singapore’s top import partner country, followed by the EU-27 and Mainland China.
Below is the complete breakdown of Singapore’s import partner countries:
| Rank | Partner Country | Total Merchandise Trade (S$ billion) |
| 1 | United States | S$108.0 |
| 2 | EU-27 | S$42.2 |
| 3 | Mainland China | S$35.7 |
| 4 | Hong Kong | S$20.3 |
| 5 | ASEAN | S$19.7 |
| 6 | Japan | S$18.9 |
| 7 | United Kingdom | S$16.7 |
| 8 | India | S$13.5 |
| 9 | Switzerland | S$10.7 |
| 10 | Australia | S$9.1 |
As Singapore’s largest import partner, the United States supplies a wide range of machinery, aircraft, and medical equipment. These high-value imports are critical for Singapore’s role as a global electronics hub and aviation center. This equipment also supports Singapore’s advanced manufacturing and healthcare sectors.
The EU-27 is another key source of imports, especially in chemicals and industrial machinery. Singapore distributes many of these products across Asia, strengthening Singapore’s re-export activities.
Meanwhile, Mainland China is a vital import partner, providing electronics components, textiles, and transport equipment. Many of these imports feed into Singapore’s manufacturing and re-export supply chains, especially in electronics assembly and petrochemical industries.
Singapore’s Export Partners
In terms of export partners, the EU-27 is the top partner country for Singapore to export merchandise in 2023. Meanwhile, the United States and Japan were accordingly placed in the top three.
Below is the list of Singapore’s export partner countries:
| Rank | Partner Country | Total Merchandise Trade (S$ billion) |
| 1 | EU-27 | S$73.5 |
| 2 | United States | S$51.1 |
| 3 | Japan | S$43.2 |
| 4 | Australia | S$40.7 |
| 5 | ASEAN | S$38.1 |
| 6 | Mainland China | S$29.2 |
| 7 | Hong Kong | S$21.7 |
| 8 | United Kingdom | S$20.2 |
| 9 | Switzerland | S$16.5 |
| 10 | India | S$9.9 |
According to Singapore import and export by country data, the EU-27 is the country’s largest export partner, driven by strong demand for electronics, refined petroleum products, and chemicals. Singapore serves as a key supplier that supports Europe’s advanced industries, including automotive and pharmaceuticals.
The United States remains a vital export destination for Singapore, particularly in semiconductors, pharmaceuticals, and precision instruments. With the U.S. being a global leader in technology and healthcare, Singapore’s exports help fuel these industries while securing consistent trade revenues.
Additionally, Japan is another Singapore export countries, with exports dominated by chemical and pharmaceutical products and machinery and transport equipment. These goods are integral to Japan’s industrial base and energy needs, making Singapore a reliable partner in supporting Japan’s economy.
Trade Balance
Beforehand, a surplus happens when a country exports more goods to a partner than it imports. Meanwhile, a deficit means the opposite—when imports are higher than exports.
Looking at Singapore trade statistics, the United States is its largest import partner, with S$108.0 billion worth of imports compared to S$51.1 billion in exports, creating a significant trade deficit. This reflects Singapore’s dependence on American high-value goods such as machinery, aircraft, and medical equipment.
Though still leaning toward a small deficit, imports at S$35.7 billion and exports at S$29.2 billion, the situation with Mainland China is more balanced. This trade balance Singapore reflects China’s role as both a key supplier of electronics components and consumer goods, as well as a buyer of petrochemicals and electronics from Singapore.
In contrast, Singapore has a surplus with partners like the EU-27, Japan, and Australia. Exports to the EU reached S$73.5 billion against imports of S$42.2 billion. It is almost the same as Japan, which recorded S$43.2 billion in exports compared to S$18.9 billion in imports. Singapore enjoys one of its largest surpluses with Australia, exporting S$40.7 billion while importing only S$9.1 billion.
These surpluses reflect strong demand from the countries for Singapore’s machinery, chemicals, pharmaceuticals, electronics, and refined petroleum.
Overall, these trade balances that are taken from Singapore import and export by country data highlight Singapore’s dependence on advanced imports from the U.S. and China. On the other hand, it is securing strong export-led surpluses with Europe, Japan, and Australia, which together sustain its position as a global trading hub.
Singapore import and export by country data remains showing the country as a trading powerhouse with a diverse set of international trade relationships. The overall merchandise trade is in surplus; the balance differs by country. Looking ahead, you should monitor shifts in commodity trends, global supply chain disruptions, and how Singapore might reorient its trade strategies.
