2022
Flag  
GDP
$1.4TCURRENT US$
Rnk 15 / 186
2012-2022
Flag
GDP GROWTH
5.49%CURRENT US$
Rnk 154 / 186
2022
Flag
 GDP
$467BCURRENT US$
Rnk 33 / 186
2012-2022
Flag
GDP GROWTH
58.2%CURRENT US$
Rnk 42 / 186
2022
Flag
GDP PC 
$29,350CURRENT US$
Rnk 40 / 186
2012-2022
Flag
GDP PC GROWTH
3.63%CURRENT US$
Rnk 132 / 186
2022
Flag
GDP PC
$82,808CURRENT US$
Rnk 7 / 186
2012-2022
Flag
GDP PC GROWTH
49.1%CURRENT US$
Rnk 37 / 186

About

Spain-Singapore Trade: In 2022, Spain exported $1.83B to Singapore. The main products that Spain exported to Singapore were Vaccines, blood, antisera, toxins and cultures ($673M), Refined Petroleum ($216M), and Planes, Helicopters, and/or Spacecraft ($169M). Over the past 5 years the exports of Spain to Singapore have increased at an annualized rate of 21.7%, from $688M in 2017 to $1.83B in 2022.

In 2009, Spain exported services to Singapore worth $313M, with Services not allocated ($225M) and Transportation ($87.9M) being the largest in terms of value.

Singapore-Spain Trade: In 2022, Singapore exported $596M to Spain. The main products that Singapore exported to Spain were Gas Turbines ($94.1M), Packaged Medicaments ($84.3M), and Planes, Helicopters, and/or Spacecraft ($49.3M). Over the past 5 years the exports of Singapore to Spain have increased at an annualized rate of 8.79%,  from $391M in 2017 to $596M in 2022.

In 2022, Singapore did not export any services to Spain.

Comparison: In 2022,  Spain ranked 33 in the Economic Complexity Index (ECI 0.81), and 20 in total exports ($394B). That same year, Singapore ranked 6 in the Economic Complexity Index (ECI 1.68), and 21 in total exports ($379B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Spain exported $1.83B to Singapore. The main products exported from Spain to Singapore were Vaccines, blood, antisera, toxins and cultures ($673M), Refined Petroleum ($216M), and Planes, Helicopters, and/or Spacecraft ($169M). During the last 5 years the exports of Spain to Singapore have increased at an annualized rate of 21.7%, from $688M in 2017 to $1.83B in 2022.

In 2017, Singapore exported $596M to Spain. The main products exported from Singapore to Spain were Gas Turbines ($94.1M), Packaged Medicaments ($84.3M), and Planes, Helicopters, and/or Spacecraft ($49.3M). During the last 5 years the exports of Singapore to Spain have increased at an annualized rate of 8.79%, from $391M in 2022 to $596M in 2017.

Exports from Spain (Flag) to Singapore (Flag) (2022)

Exports from Singapore (Flag) to Spain (Flag) (2022)

Market Competitiveness

Color
Spain
Top Destination
France$65.2B
Singapore
Top Destination
Hong Kong$51.6B

This map shows whether countries import more from Spain or Singapore. Each country is colored based on the difference in imports they receive from Spain and Singapore or the difference in the growth in imports.

In 2022, countries that imported more from Spain than Singapore included France ($65.2B), Portugal ($34.9B), and Germany ($39.2B).

In 2022, countries that imported more from Singapore than Spain included Hong Kong ($51.6B), China ($51.2B), and Malaysia ($35.9B).

Difference in imports from Singapore (Flag) and Spain (Flag) (2022)

Comparative Advantage Spain - Singapore

Flow
Scale

This chart compares trade between Spain and Singapore by product, considering products traded by both, Spain and Singapore.

During 2022, Spain had a large net trade with Singapore in the exports of Chemical Products ($847M), Mineral Products ($240M), and Transportation ($230M).

During 2017, Singapore had a large net trade with Spain in the exports of Chemical Products ($213M), Machines ($178M), and Instruments ($69M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Spain Singapore+$148MRefined Petroleum
Top Product Potential Singapore Spain+$60.1MPackaged Medicaments

We estimate the export potential of an economy for each product and destination using an extension of the bilateral relatedness model of Jun et al. (2019).This extended gravity model considers similarities among products and geographies and explains more than 50% of the variance in future trade flows.

Subscribe today to OEC pro and access the latest data

Sign Up

Subscribe today to OEC pro and access the latest data

Sign Up

Economic Complexity

Competitive Landscape

This visualization shows the product space at the HS4 level with the flags of Spain and Singapore. This means that a dot/product with the flag of Spain indicates it has a comparative advantage over Singapore. Similarly, a dot/product with the flag of Singapore indicates it has a comparative advantage over Spain.

Product Space of Spain (Flag) and Singapore (Flag) (2022)

Have questions, comments, or concerns?
Send us an e-mail: support@oec.world
Follow @OECtoday on
Created, Designed, and Developed by:
In collaboration with