[1] Primary trade source
OECD Bilateral International Merchandise Trade Statistics, harmonised by Yugalinks at country-year, HS2 and bilateral-corridor levels. Coverage shown here is 1995–2024 where observations are available.
Country intelligence · SGP · 2024
Singapore trade profile
In 2024, Singapore recorded $403.3B in merchandise exports and $427.1B in imports, producing a $23.8B trade deficit. Exports changed +4.3% from the previous year, while imports changed +4.4%.[1]
Exports
$403.3B
+4.3%
Imports
$427.1B
+4.4%
Trade balance
-$23.8B
deficit
Active partners
270
67 FTA-linked
Historical evidence
Ten-year trade movement
The bars compare exports and imports on the same scale. The accompanying table preserves the exact values so the trend is usable without interpreting a graphic.
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
ExportsImports
Exact annual values
Leading export sectors
HS2 chapters rank broad product groups by observed export value in 2024.
1$128.6B
HS 85 · Electrical machinery
262 active HS6 lines · 192 export partners
2$63.0B
HS 84 · Machinery
514 active HS6 lines · 194 export partners
3$56.5B
HS 27 · Mineral fuels and oils
43 active HS6 lines · 172 export partners
4$21.8B
HS 90 · HS chapter
142 active HS6 lines · 189 export partners
5$20.8B
HS 71 · Precious metals and stones
51 active HS6 lines · 126 export partners
6$20.6B
HS 99 · HS chapter
1 active HS6 lines · 53 export partners
7$19.6B
HS 30 · Pharmaceutical products
41 active HS6 lines · 159 export partners
8$13.0B
HS 29 · Organic chemicals
349 active HS6 lines · 154 export partners
Leading export markets
Destinations rank bilateral export flows from Singapore; growth describes each corridor rather than the whole economy.
1$51.3B
Hong Kong
Annual change +12.3% · 3-year CAGR -2.3%
2$49.8B
China
Annual change +4.3% · 3-year CAGR -0.5%
3$44.5B
United States
Annual change +5.0% · 3-year CAGR 10.5%
4$43.2B
Malaysia
Annual change +16.4% · 3-year CAGR 11.6%
5$29.2B
Indonesia
Annual change +15.0% · 3-year CAGR 11.6%
6$15.8B
Taiwan
Annual change -0.7% · 3-year CAGR -2.9%
7$14.9B
South Korea
Annual change -2.1% · 3-year CAGR 0.2%
8$12.5B
Thailand
Annual change +15.4% · 3-year CAGR 10.7%
Sources, definitions and limitations
Calculation notes
USD values are aggregated from reported merchandise records. YoY compares consecutive annual totals; three-year CAGR is the mart-provided compound annual growth rate. Missing values are not inferred.