Singapore (SGP) and South Korea (KOR) Trade | The Observatory of Economic Complexity

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Singapore-South Korea In 2022, Singapore exported $11.9B to South Korea. The main products that Singapore exported to South Korea are Integrated Circuits ($3.28B), Machinery Having Individual Functions ($2.33B), and Refined Petroleum ($566M). During the last 27 years the exports of Singapore to South Korea have increased at an annualized rate of 5.52%, from $2.79B in 1995 to $11.9B in 2022.

In 2015, Singapore exported services to South Korea worth $1.85B, with Transportation ($1.03B), Other business services ($483M), and Insurance services ($171M) being the largest in terms of value.

South Korea-Singapore In 2022, South Korea exported $22.5B to Singapore. The main products that South Korea exported to Singapore were Integrated Circuits ($7.89B), Refined Petroleum ($7.15B), and Passenger and Cargo Ships ($1.28B). During the last 27 years the exports of South Korea to Singapore have increased at an annualized rate of 4.56%, from $6.74B in 1995 to $22.5B in 2022.

In 2005, South Korea exported services to Singapore worth $1.27B, with Transportation ($610M), Other business services ($361M), and Travel ($125M) being the largest in terms of value.

Comparison In 2022, Singapore ranked 5 in the Economic Complexity Index (ECI 1.53), and 21 in total exports ($379B). That same year, South Korea ranked 4 in the Economic Complexity Index (ECI 1.71), and 5 in total exports ($705B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Singapore exported $11.9B to South Korea. The main products exported from Singapore to South Korea were Integrated Circuits ($3.28B), Machinery Having Individual Functions ($2.33B), and Refined Petroleum ($566M). During the last 27 years the exports of Singapore to South Korea have increased at an annualized rate of 5.52%, from $2.79B in 1995 to $11.9B in 2022.

In 2022, South Korea exported $22.5B to Singapore. The main products exported from South Korea to Singapore were Integrated Circuits ($7.89B), Refined Petroleum ($7.15B), and Passenger and Cargo Ships ($1.28B). During the last 27 years the exports of South Korea to Singapore have increased at an annualized rate of 4.56%, from $6.74B in 1995 to $22.5B in 2022.

Exports from Singapore () to South Korea () (2022)

Exports from South Korea () to Singapore () (2022)

Latest Data

Trade between Singapore () and South Korea ()

Singapore Exports

Date

South Korea Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Singapore
Top DestinationHong Kong$51.6B

South Korea
Top DestinationChina$150B

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

In 2021, countries that imported more from Singapore than South Korea were Malaysia ($35.9B), Hong Kong ($51.6B), and Indonesia ($22.5B).

In 2021, countries that imported more from South Korea than Singapore were China ($150B), United States ($112B), and Vietnam ($60.7B).

Difference in imports from South Korea () and Singapore () (2022)

Comparative Advantage Singapore - South Korea

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Singapore had a large net trade with South Korea in the exports of Machines ($7.57B), Chemical Products ($1.71B), and Instruments ($968M).

During 2022, South Korea had a large net trade with Singapore in the exports of Machines ($11B), Mineral Products ($7.47B), and Transportation ($1.39B).

Service Trade

Bilateral Service Trade

Sgp Year

In 2015, Singapore exported services to South Korea worth $1.85B, with Transportation ($1.03B), Other business services ($483M), and Insurance services ($171M) being the largest in terms of value.

In 2005, South Korea exported services to Singapore worth $1.27B, with Transportation ($610M), Other business services ($361M), and Travel ($125M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Singapore () to South Korea () (2015)

Services Exports from South Korea () to Singapore () (2005)

Economic Complexity

Competitive Landscape

Year

This visualization show the product space at the HS4 level colored from blue to yellow. This mean that the more blue a dot/product is, the more Singapore has comparative advantage over South Korea. Similarly, the more yellow a dot/product is, the more South Korea has comparative advantage over Singapore.

About

Historical Data

Bilateral Trade by Products

Exports from Singapore () to South Korea () (2022)

Exports from South Korea () to Singapore () (2022)

Latest Data

Trade between Singapore () and South Korea ()

Singapore Exports

South Korea Exports

Market Competitiveness

Difference in imports from South Korea () and Singapore () (2022)

Comparative Advantage Singapore - South Korea

Service Trade

Bilateral Service Trade

Services Exports from Singapore () to South Korea () (2015)

Services Exports from South Korea () to Singapore () (2005)

Economic Complexity

Competitive Landscape

Product Space of Singapore () and South Korea () (2022)

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