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2022
Flag → Flag
Exports $881MRnk 35 / 215
2022
Flag → Flag
Top Product $135MPackaged Medicaments
2022
Flag → Flag
Exports $3.04BRnk 39 / 221
2022
Flag → Flag
Top Product $520MIntegrated Circuits
2022
Flag
Economic Complexity (ECI) ECI 1.68Rnk 6 / 133
2022
Flag
Economic Complexity (ECI) ECI 1.29Rnk 17 / 133
2022
Flag  
GDP$467BCURRENT US$
Rnk 33 / 186
2012-2022
Flag
GDP GROWTH58.2%CURRENT US$
Rnk 42 / 186
2022
Flag
 GDP$2.01TCURRENT US$
Rnk 10 / 186
2012-2022
Flag
GDP GROWTH-3.67%CURRENT US$
Rnk 169 / 186
2022
Flag
GDP PC $82,808CURRENT US$
Rnk 7 / 186
2012-2022
Flag
GDP PC GROWTH49.1%CURRENT US$
Rnk 37 / 186
2022
Flag
GDP PC$34,158CURRENT US$
Rnk 30 / 186
2012-2022
Flag
GDP PC GROWTH-2.55%CURRENT US$
Rnk 148 / 186

About

Singapore-Italy Trade: In 2022, Singapore exported $881M to Italy. The main products that Singapore exported to Italy were Packaged Medicaments ($135M), Integrated Circuits ($131M), and Gold ($99.5M). Over the past 5 years the exports of Singapore to Italy have increased at an annualized rate of 12.1%, from $498M in 2017 to $881M in 2022.

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

Italy-Singapore Trade: In 2022, Italy exported $3.04B to Singapore. The main products that Italy exported to Singapore were Integrated Circuits ($520M), Refined Petroleum ($228M), and Trunks and Cases ($127M). Over the past 5 years the exports of Italy to Singapore have increased at an annualized rate of 2.24%,  from $2.72B in 2017 to $3.04B in 2022.

In 2020, Italy exported services to Singapore worth $387M, with Other business services ($262M), Communications services ($79.7M), and Computer and information services ($18.8M) being the largest in terms of value.

Comparison: In 2022,  Singapore ranked 6 in the Economic Complexity Index (ECI 1.68), and 21 in total exports ($379B). That same year, Italy ranked 17 in the Economic Complexity Index (ECI 1.29), and 7 in total exports ($634B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Singapore exported $881M to Italy. The main products exported from Singapore to Italy were Packaged Medicaments ($135M), Integrated Circuits ($131M), and Gold ($99.5M). During the last 5 years the exports of Singapore to Italy have increased at an annualized rate of 12.1%, from $498M in 2017 to $881M in 2022.

In 2017, Italy exported $3.04B to Singapore. The main products exported from Italy to Singapore were Integrated Circuits ($520M), Refined Petroleum ($228M), and Trunks and Cases ($127M). During the last 5 years the exports of Italy to Singapore have increased at an annualized rate of 2.24%, from $2.72B in 2022 to $3.04B in 2017.

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

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

Latest Data

Trade between Singapore (Flag) and Italy (Flag)

Singapore Exports

Italy Exports

Market Competitiveness

Color
Singapore
Top DestinationHong Kong$51.6B
Italy
Top DestinationGermany$78.5B

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

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

In 2022, countries that imported more from Italy than Singapore included Germany ($78.5B), France ($63.8B), and United States ($68.2B).

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

Comparative Advantage Singapore - Italy

Flow
Scale

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

During 2022, Singapore had a large net trade with Italy in the exports of Machines ($273M), Chemical Products ($224M), and Precious Metals ($185M).

During 2017, Italy had a large net trade with Singapore in the exports of Machines ($1.19B), Chemical Products ($334M), and Mineral Products ($281M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Singapore Italy+$86MIntegrated Circuits
Top Product Potential Italy Singapore+$126MRefined Petroleum

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.

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Bilateral Service Trade

In 2020, Italy exported services to Singapore worth $387M, with Other business services ($262M), Communications services ($79.7M), and Computer and information services ($18.8M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Italy (Flag) to Singapore (Flag) (2020)

Service Trade

Economic Complexity

Competitive Landscape

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

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

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