2022
Flag  
GDP
$467BCURRENT US$
Rnk 33 / 186
2012-2022
Flag
GDP GROWTH
58.2%CURRENT US$
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2022
Flag
 GDP
$2.24TCURRENT US$
Rnk 8 / 186
2012-2022
Flag
GDP GROWTH
1.45%CURRENT US$
Rnk 164 / 186
2022
Flag
GDP PC 
$82,808CURRENT US$
Rnk 7 / 186
2012-2022
Flag
GDP PC GROWTH
49.1%CURRENT US$
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2022
Flag
GDP PC
$15,345CURRENT US$
Rnk 63 / 186
2012-2022
Flag
GDP PC GROWTH
-0.49%CURRENT US$
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About

Singapore-Russia Trade: In 2022, Singapore exported $167M to Russia. The main products that Singapore exported to Russia were Refined Petroleum ($17.7M), Integrated Circuits ($11.1M), and Motor vehicles; parts and accessories (8701 to 8705) ($11M). Over the past 5 years the exports of Singapore to Russia have decreased at an annualized rate of 31.6%, from $1.12B in 2017 to $167M in 2022.

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

Russia-Singapore Trade: In 2022, Russia exported $2.12B to Singapore. The main products that Russia exported to Singapore were Refined Petroleum ($1.09B), Gold ($627M), and Crude Petroleum ($85.9M). Over the past 5 years the exports of Russia to Singapore have decreased at an annualized rate of 14.3%,  from $4.58B in 2017 to $2.12B in 2022.

In 2020, Russia exported services to Singapore worth $609M, with Transportation ($283M), Other business services ($137M), and Computer and information services ($72.8M) 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, Russia ranked 47 in the Economic Complexity Index (ECI 0.43), and 12 in total exports ($486B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Singapore exported $167M to Russia. The main products exported from Singapore to Russia were Refined Petroleum ($17.7M), Integrated Circuits ($11.1M), and Motor vehicles; parts and accessories (8701 to 8705) ($11M). During the last 5 years the exports of Singapore to Russia have decreased at an annualized rate of 31.6%, from $1.12B in 2017 to $167M in 2022.

In 2017, Russia exported $2.12B to Singapore. The main products exported from Russia to Singapore were Refined Petroleum ($1.09B), Gold ($627M), and Crude Petroleum ($85.9M). During the last 5 years the exports of Russia to Singapore have decreased at an annualized rate of 14.3%, from $4.58B in 2022 to $2.12B in 2017.

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

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

Latest Data

Trade between Singapore (Flag) and Russia (Flag)

Singapore Exports

Russia Exports

Market Competitiveness

Color
Singapore
Top Destination
Hong Kong$51.6B
Russia
Top Destination
China$101B

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

In 2022, countries that imported more from Singapore than Russia included Hong Kong ($51.6B), Malaysia ($35.9B), and Indonesia ($22.5B).

In 2022, countries that imported more from Russia than Singapore included China ($101B), Turkey ($25.3B), and Italy ($25.1B).

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

Comparative Advantage Singapore - Russia

Flow
Scale

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

During 2022, Singapore had a large net trade with Russia in the exports of Machines ($73.2M), Mineral Products ($17.7M), and Instruments ($16M).

During 2017, Russia had a large net trade with Singapore in the exports of Mineral Products ($1.23B), Precious Metals ($633M), and Metals ($206M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Singapore Russia+$31.2MRefined Petroleum
Top Product Potential Russia Singapore+$676MRefined 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, Russia exported services to Singapore worth $609M, with Transportation ($283M), Other business services ($137M), and Computer and information services ($72.8M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Russia (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 Russia. This means that a dot/product with the flag of Singapore indicates it has a comparative advantage over Russia. Similarly, a dot/product with the flag of Russia indicates it has a comparative advantage over Singapore.

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

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