TOTAL MERCHANDISE TRADE
AT CURRENT PRICES, 2019 - 2023
Exports
S$ 638.4 Bil
Imports
S$ 567.3 Bil
Total in 2023
S$ 1,205.7 Bil
Exports
S$ 710.0 Bil
Imports
S$ 655.4 Bil
Total in 2022
S$ 1,365.4 Bil
Exports
S$ 614.1 Bil
Imports
S$ 545.9 Bil
Total in 2021
S$ 1,160.0 Bil
Exports
S$ 515.6 Bil
Imports
S$ 453.5 Bil
Total in 2020
S$ 969.1 Bil
Exports
S$ 532.5 Bil
Imports
S$ 489.7 Bil
Total in 2019
S$ 1,022.2 Bil
Merchandise Trade
Decreased
11.7 %
In 2023
MERCHANDISE TRADE PERFORMANCE
WITH MAJOR TRADING PARTNERS, 2023
Exports (S$ Bil)
Imports
(S$ Bil)
10
20
30
40
50
60
70
80
90
90
80
70
60
50
40
30
20
10
Note:The size of the bubbles reflects Singapore’s total merchandise trade value with the trading partner. If the centre point (white circle) of the bubble falls in the blue region, it indicates that Singapore’s imports from the trading partner exceeds Singapore’s exports. If the centre point of the bubble falls in the green region, then Singapore’s exports to the trading partner exceeds Singapore’s imports.
Singapore's exports to
the trading partner exceeds
Singapore's imports from
the trading partner
Singapore's imports from
the trading partner exceeds
Singapore's exports to
the trading partner
- In 2023, Mainland China, the US and Malaysia were Singapore’s top trading partners. Singapore’s exports to Mainland China exceeded Singapore’s imports from Mainland China, while Singapore’s imports from Malaysia and US exceeded exports to these trading partners.
NON-OIL MERCHANDISE TRADE BY
MAJOR COMMODITY SECTIONS, 2023
Machinery &
Transport Equipment
Exports
S$ 326.9 Bil
62.6%
Imports
S$ 281.7 Bil
62.7%
Chemicals &
Chemical Products
Exports
S$ 76.4 Bil
14.6%
Imports
S$ 45.1 Bil
10.0%
Miscellaneous
Manufactured Articles
Exports
S$ 55.8 Bil
10.7%
Imports
S$ 47.8 Bil
10.6%
Manufactured
Goods
Exports
S$ 18.1 Bil
3.5%
Imports
S$ 27.8 Bil
6.2%
Food &
Live Animals
Exports
S$ 12.6 Bil
2.4%
Imports
S$ 13.1 Bil
2.9%
Animals & Vegetable
Oils, Fats & Waxes
Exports
S$ 0.3 Bil
0.1%
Imports
S$ 3.6 Bil
0.8%
Beverages &
Tobacco
Exports
S$ 5.3 Bil
1.0%
Imports
S$ 5.7 Bil
1.3%
Crude Materials
(Excluding Fuels)
Exports
S$ 4.1 Bil
0.8%
Imports
S$ 3.0 Bil
0.7%
Miscellaneous
(Excluding Oil Bunkers)
Exports
S$ 22.9 Bil
4.4%
Imports
S$ 21.6 Bil
4.8%
TOP 3 COMMODITY SECTIONS
Machinery &
Transport Equipment
Chemicals &
Chemical Products
Miscellaneous
Manufactured Articles
87.9%
of non-oil merchandise exports in 2023
Machinery &
Transport Equipment
Miscellaneous
Manufactured Articles
Chemicals &
Chemical Products
83.4%
of non-oil merchandise imports in 2023
NON-OIL DOMESTIC EXPORTS
BY MAJOR COMMODITY SECTIONS, 2023
TOTAL
S$ 173.2 Bil
TOP 3 COMMODITY SECTIONS
1
Machinery &
Transport Equipment
2
Chemicals &
Chemical Products
3
Miscellaneous
Manufactured Articles
Made up 83.9% of non-oil domestic exports.
NON-OIL RE-EXPORTS
BY MAJOR COMMODITY SECTIONS, 2023
TOTAL
S$ 349.3 Bil
TOP 3 COMMODITY SECTIONS
1
Machinery &
Transport Equipment
2
Miscellaneous
Manufactured Articles
3
Chemicals &
Chemical Products
Made up 89.9% of non-oil re-exports.
OVERALL EXPORTS AND IMPORTS OF SERVICES,
2019-2023
S$ Billion
Exports
Imports
Total
S$ 589.9 Bil
Exports
Imports
Total
S$ 589.2 Bil
Exports
Imports
Total
S$ 711.6 Bil
Exports
Imports
Total
S$ 870.7 Bil
Exports
Imports
Total
S$ 837.3 Bil
Year
2019
2020
2021
2022
2023
Compound Annual Growth Rates (from 2019 to 2023)
9.6%
Exports
8.6%
Imports
Services Trade Balance
S$ 43.7 Bil
in 2023
EXPORTS OF SERVICES
BY SERVICES CATEGORY, 2023
TOTAL
S$ 440.5 Bil
S$ 11.1Bil
Maintenance And
Repair Services
S$ 141.3 Bil
Transport
S$ 28.3 Bil
Travel
S$ 12.1 Bil
Insurance
S$ 0.5 Bil
Government Goods
And Services
S$ 1.8 Bil
Construction
S$ 58.6 Bil
Financial
S$ 34.5 Bil
Telecommunications,
Computer &
Information
S$ 18.6 Bil
Charges For
The Use Of
Intellectual Property
S$ 4.5 Bil
Personal, Cultural
And Recreational
S$ 36.3 Bil
Business Management
S$ 11.9 Bil
Trade-related
S$ 80.4 Bil
Other Services
S$ 0.6Bil
Manufacturing Services
On Physical Inputs
Owned By Others
IMPORTS OF SERVICES
BY SERVICES CATEGORY, 2023
TOTAL
S$ 396.8 Bil
S$ 1.3Bil
Maintenance And
Repair Services
S$ 122.8 Bil
Transport
S$ 33.9 Bil
Travel
S$ 11.0 Bil
Insurance
S$ 0.3 Bil
Government Goods
And Services
S$ 0.9 Bil
Construction
S$ 18.2 Bil
Financial
S$ 35.9 Bil
Telecommunications,
Computer &
Information
S$ 24.4 Bil
Charges For
The Use Of
Intellectual Property
S$ 1.9 Bil
Personal, Cultural
And Recreational
S$ 44.0 Bil
Business Management
S$ 19.6 Bil
Trade-related
S$ 71.8 Bil
Other Services
S$ 10.7Bil
Manufacturing Services
On Physical Inputs
Owned By Others
MAJOR SERVICES CATEGORIES
1
Transport
2
Business Management
3
Financial
Accounted for the bulk of Singapore's trade in services in 2023.
Exports
53.6 %
of Total Exports
Imports
46.6 %
of Total Imports
MAJOR TRADING PARTNERS
FOR TRADE IN SERVICES, 2022
North America
Europe
Asia
Oceania
Exports
Imports
Note: numbers may not add up to the totals due to rounding
Last updated in Feb 2024
For more information, please refer to the resources at
http://www.singstat.gov.sg/find-data/search-by-theme/trade-and-investment
