United States (USA) and Singapore (SGP) Trade

2022

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Exports $41.4BRnk 11 / 219

2022

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About

United States-Singapore In 2022, United States exported $41.4B to Singapore. The main products that United States exported to Singapore are Crude Petroleum ($9.57B), Machinery Having Individual Functions ($2.87B), and Gold ($1.82B). During the last 27 years the exports of United States to Singapore have increased at an annualized rate of 3.57%, from $16B in 1995 to $41.4B in 2022.

In 2017, United States exported services to Singapore worth $21.6B, with Other business services ($12.5B), Royalties and license fees ($2.98B), and Financial services ($2.9B) being the largest in terms of value.

Singapore-United States In 2022, Singapore exported $28.9B to United States. The main products that Singapore exported to United States were Other Edible Preparations ($4.06B), Vaccines, blood, antisera, toxins and cultures ($2.49B), and Refined Petroleum ($1.89B). During the last 27 years the exports of Singapore to United States have increased at an annualized rate of 1.54%, from $19.1B in 1995 to $28.9B in 2022.

In 2015, Singapore exported services to United States worth $13.2B, with Transportation ($6.93B), Other business services ($5.87B), and Insurance services ($156M) being the largest in terms of value.

Comparison In 2022, United States ranked 10 in the Economic Complexity Index (ECI 1.41), and 2 in total exports ($1.95T). That same year, Singapore ranked 5 in the Economic Complexity Index (ECI 1.53), and 21 in total exports ($379B).

COMPANIES In 2023, leading companies such as ROBERT BOSCH TOOL CORPORATION (46.4k), ADIDAS INTERNATIONAL TRADING AG (41.3k), and GOODYEAR TIRE & RUBBER CO. (14.7k) were at the forefront of exporting goods from Singapore to the United States. Conversely, MEIKO ELECTRONICS VIETNAM CO LTD (20.1k), KARNAPHULI SHOES INDS. LTD (19.4k), and ASAHI KASEI SYNTHETIC RUBBER SINGAP (14k) were notable for importing Singapore products to the United States.

Latest Trends

January, 2024

About

Overview In January 2024, United States exported $3.38B and imported $3.27B from Singapore, resulting in a positive trade balance of $108M. Between January 2023 and January 2024 the exports of United States have increased by $91M (2.77%) from $3.29B to $3.38B, while imports increased by $338M (11.5%) from $2.93B to $3.27B.

Trade In January 2024, the top exports of United States to Singapore were Crude Petroleum ($748M), Aircraft Parts ($397M), Commodities not elsewhere specified ($153M), Machines and apparatus of a kind... ($117M), and Computers ($106M). In January 2024 the top imports of United States from Singapore were Commodities not elsewhere specified ($601M), Other Edible Preparations ($440M), Packaged Medicaments ($313M), Vaccines, blood, antisera, toxins and cultures ($217M), and Therapeutic Appliances ($143M).

Origins In January 2024 the exports of United States were mainly from Texas ($841M), New York ($511M), California ($372M), Georgia ($169M), and Illinois ($149M), while imports destinations were mainly Kentucky ($803M), California ($498M), Florida ($488M), Illinois ($233M), and Georgia ($140M).

Growth In January 2024, the increase in United States's year-by-year exports to Singapore was explained primarily by an increase in product exports in Aircraft Parts ($86.1M or 27.7%), Cathode Tubes ($41.4M or 1.34k%), and Beauty Products ($35.5M or 342%). In January 2024, the increase in United States's year-by-year imports from Singapore was explained primarily by an increase in product imports in Commodities not elsewhere specified ($312M or 108%), Packaged Medicaments ($190M or 154%), and Vaccines, blood, antisera, toxins and cultures ($151M or 231%).

Latest Trade

Flow

Exports

Imports

Time Scale

Year

Quarter

Month

Depth

HS2

HS4

HS6

Value

Trade Value

Growth

Growth (%)

EXPORT GROWTH (January 2023 - January 2024)$91M(2.77%)

IMPORT GROWTH (January 2023 - January 2024)$338M(11.5%)

MAIN EXPORTER (January 2024)Texas$841M

This section shows exports and imports data at subnational level for United States. Click any date in the line plot, any subnational region in the geomap or any product to explore the exports or imports behavior of United States over time.

To check Singapore and United States trade dynamics, check the bilateral page.

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Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, United States exported $41.4B to Singapore. The main products exported from United States to Singapore were Crude Petroleum ($9.57B), Machinery Having Individual Functions ($2.87B), and Gold ($1.82B). During the last 27 years the exports of United States to Singapore have increased at an annualized rate of 3.57%, from $16B in 1995 to $41.4B in 2022.

In 2022, Singapore exported $28.9B to United States. The main products exported from Singapore to United States were Other Edible Preparations ($4.06B), Vaccines, blood, antisera, toxins and cultures ($2.49B), and Refined Petroleum ($1.89B). During the last 27 years the exports of Singapore to United States have increased at an annualized rate of 1.54%, from $19.1B in 1995 to $28.9B in 2022.

Exports from United States () to Singapore () (2022)

Exports from Singapore () to United States () (2022)

Market Competitiveness

Color

Exports

Export Growth

Section

Year

United States
Top DestinationCanada$308B

Singapore
Top DestinationHong Kong$51.6B

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

In 2021, countries that imported more from United States than Singapore were Canada ($308B), Mexico ($294B), and China ($151B).

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

Difference in imports from Singapore () and United States () (2022)

Comparative Advantage United States - Singapore

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, United States had a large net trade with Singapore in the exports of Machines ($12.6B), Mineral Products ($11.5B), and Chemical Products ($3.93B).

During 2022, Singapore had a large net trade with United States in the exports of Machines ($9.28B), Chemical Products ($5.55B), and Instruments ($4.28B).

Service Trade

Bilateral Service Trade

Sgp Year

Usa Year

In 2015, Singapore exported services to United States worth $13.2B, with Transportation ($6.93B), Other business services ($5.87B), and Insurance services ($156M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from United States () to Singapore () (2017)

Services Exports from Singapore () to United States () (2015)

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 United States has comparative advantage over Singapore. Similarly, the more yellow a dot/product is, the more Singapore has comparative advantage over United States.

Product Space of United States () and Singapore () (2022)

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