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Singapore-Saudi Arabia Bilateral Trade Analysis 2023

Complete trade statistics: $7.61B total volume •Singapore deficit: $5.65B

Singapore → Saudi Arabia

$979.62M

Exports (2023)

Saudi Arabia → Singapore

$6.63B

Imports (2023)

Trade Balance

$5.65B

Deficit for Singapore

Total Trade

$7.61B

Combined Volume

Trade Flow Visualization

Direct trade relationship between Singapore and Saudi Arabia. Green line shows exports from Singapore, red line shows imports.

Detailed Product Trade Analysis

Comprehensive breakdown of trade flows by product category, revealing the specialized nature of the Singapore-Saudi Arabia commercial relationship and competitive positioning in global markets.

Singapore → Saudi Arabia Exports

$979.62M
2023 Total

Export Market Intelligence

Product Diversity:
Highly Diversified
Market Share:
8.2% top product
1Machines and mechanical appliances: having individual functions, n.e.c. or included in this chapter
$80.02M
8.2% of exports
2Boring or sinking machinery: parts of the machinery of item no. 8430.41 or 8430.41
$74.55M
7.6% of exports
3Machines and mechanical appliances: parts, of those having individual functions
$59.24M
6.0% of exports
4Medicaments: consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail sale
$54.95M
5.6% of exports
5Taps, cocks, valves and similar appliances: for pipes, boiler shells, tanks, vats or the like, including thermostatically controlled valves
$42.65M
4.4% of exports
6Turbo-jets: of a thrust exceeding 25kN
$27.15M
2.8% of exports
7Petroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils
$21.81M
2.2% of exports
8Lubricating oil additives: containing petroleum oils or oils obtained from bituminous minerals
$19.27M
2.0% of exports
9Food preparations: n.e.c. in item no. 2106.10
$17.92M
1.8% of exports
10Communication apparatus (excluding telephone sets or base stations): machines for the reception, conversion and transmission or regeneration of voice, images or other data, including switching and routing apparatus
$16.43M
1.7% of exports

🎯 Strategic Export Focus

Singapore's export portfolio to Saudi Arabia demonstrates strong diversification across multiple sectors, with machines and mechanical appliances: having individual functions, n.e.c. or included in this chapter representing a key competitive advantage in this bilateral market.

Saudi Arabia → Singapore Imports

$6.63B
2023 Total

Import Dependency Profile

Supply Diversity:
Well Diversified
Critical Imports:
46.1% concentration
1Oils: petroleum oils and oils obtained from bituminous minerals, crude
$3.05B
46.1% of imports
2Petroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils
$1.26B
19.0% of imports
3Ethylene polymers: in primary forms, polyethylene having a specific gravity of less than 0.94
$539.65M
8.1% of imports
4Ethylene polymers: in primary forms, ethylene-alpha-olefin copolymers, having a specific gravity of less than 0.94
$224.95M
3.4% of imports
5Ethers: acyclic, and their halogenated, sulphonated, nitrated or nitrosated derivatives, other than diethyl ether
$218.24M
3.3% of imports
6Ethylene polymers: in primary forms, polyethylene having a specific gravity of 0.94 or more
$208.05M
3.1% of imports
7Propylene, other olefin polymers: polypropylene in primary forms
$180.90M
2.7% of imports
8Petroleum gases and other gaseous hydrocarbons: liquefied, butanes
$154.87M
2.3% of imports
9Polycarbonates: in primary forms
$102.41M
1.5% of imports
10Alcohols: saturated monohydric, methanol (methyl alcohol)
$86.29M
1.3% of imports

📦 Import Strategy Analysis

Singapore's import pattern from Saudi Arabia reveals significant dependencyin oils: petroleum oils and oils obtained from bituminous minerals, crude, highlighting complementary economic structures and potential supply chain optimization opportunities.

Competitive Trade Position Analysis

🏆

Market Leadership

Singapore demonstrates competitive strength in exportingmachines and mechanical appliances: having individual functions, n.e.c. or included in this chapter to Saudi Arabia, leveraging comparative advantages.

Export Leader in 20+ Categories
🔄

Trade Complementarity

The bilateral relationship showsmoderatecomplementarity, with each country specializing in different sectors.

Specialized Exchange
📈

Growth Potential

The $7.61B trade volume indicates substantial economic integration with room for expansion in emerging sectors.

Significant Partnership

Executive Summary: Singapore-Saudi Arabia Trade Relationship

Key Trade Highlights 2023

  • Total Trade Volume: $7.61 billionrepresenting a significant bilateral economic relationship
  • Trade Balance: Singapore maintains a deficit of $5.65 billion
  • Export Focus: Singapore's primary exports include machines and mechanical appliances: having individual functions, n.e.c. or included in this chapter, boring or sinking machinery: parts of the machinery of item no. 8430.41 or 8430.41, machines and mechanical appliances: parts, of those having individual functions
  • Import Dependencies: Key imports from Saudi Arabia include oils: petroleum oils and oils obtained from bituminous minerals, crude, petroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils, ethylene polymers: in primary forms, polyethylene having a specific gravity of less than 0.94

Strategic Trade Indicators

Trade IntensityHigh
Export DiversificationDiversified
Trade Balance HealthImbalanced

📈 Market Position: This bilateral trade relationship represents an important regional trade partnerships, with complementary economic strengths driving sustained commercial exchange.

Historical Trade Analysis & Economic Context

Trade Evolution Timeline

2019-2023: Recent Trends

Current trade volume of $7.61B represents the culmination of evolving bilateral commercial relationships, influenced by global supply chain shifts and changing economic priorities.

2015-2019: Growth Period

Sustained expansion in bilateral trade driven by complementary economic structures, with Singapore leveraging its comparative advantages in machines and mechanical appliances: having individual functions, n.e.c. or included in this chapter.

2010-2015: Foundation Building

Establishment of modern trade frameworks and reduction of barriers, facilitating increased commercial exchange and investment flows between the two economies.

Pre-2010: Early Development

Initial stages of bilateral trade relationship development, with focus on traditional export-import patterns and gradual market integration.

Key Economic Drivers

1

Comparative Advantage

Singapore's specialization in machines and mechanical appliances: having individual functions, n.e.c. or included in this chaptercomplements Saudi Arabia's demand patterns, creating natural trade synergies.

2

Supply Chain Integration

Deep integration in global value chains has strengthened bilateral linkages, particularly in oils: petroleum oils and oils obtained from bituminous minerals, crude.

3

Market Access & Trade Policy

Favorable trade agreements and market access conditions have facilitated the growth of this $7.61B bilateral relationship.

Trade Pattern Insights

Trade ComplementarityAsymmetric
Seasonal VariationsModerate
Product ConcentrationLow
Market DependencyHigh
🔮

Trade Relationship Outlook

The $7.61B bilateral trade volume positions this relationship for continued growth, supported by technological advancement, evolving consumer preferences, and strengthening economic ties. Key opportunities lie in expanding cooperation in emerging sectors while managing potential supply chain vulnerabilities.

Economic Impact & Strategic Outlook

Economic Impact Assessment

💰

Trade Volume Impact

The $7.61 billion bilateral trade volume represents a important trade relationshipfor both economies.

Economic Significance: Moderate
🏭

Industrial Integration

Trade flows in machines and mechanical appliances: having individual functions, n.e.c. or included in this chapter and oils: petroleum oils and oils obtained from bituminous minerals, crude demonstrate deep industrial linkages and supply chain integration.

Supply Chain Integration: Diversified
⚖️

Trade Balance Effects

Singapore's trade deficit of $5.65 billion impacts its overall economic position in this bilateral relationship.

Balance Impact: Import Dependency

Strategic Future Outlook

🚀Growth Opportunities

Emerging Sectors
Technology transfer and innovation cooperation in boring or sinking machinery: parts of the machinery of item no. 8430.41 or 8430.41 present expansion opportunities.
Market Diversification
Beyond current focus on oils: petroleum oils and oils obtained from bituminous minerals, crude, new product categories offer potential for trade expansion.

⚠️Risk Factors

Supply Chain Vulnerabilities
High trade imbalance may create supply chain risks
Market Competition
Global competition in machines and mechanical appliances: having individual functions, n.e.c. or included in this chapter may affect future market positioning.

🎯Strategic Recommendations

  • Strengthen cooperation in high-value sectors beyond current trade patterns
  • Develop alternative supply chains to reduce dependency risks
  • Explore joint ventures in emerging technology sectors
  • Enhance trade facilitation and reduce transaction costs

Market Position & Competitive Summary

The bilateral trade relationship between Singapore and Saudi Arabia represents a total trade volume of $7.61 billion in 2023. This partnership demonstrates an unfavorable trade balance for Singapore, with imports exceeding exportsby $5.65 billion.

Export Strengths

Singapore's exports to Saudi Arabia total $979.62 million, with competitive advantages in machines and mechanical appliances: having individual functions, n.e.c. or included in this chapter, representing $80.02M or8.2% of bilateral exports.

Import Dependencies

Imports from Saudi Arabia amount to $6.63 billion, highlighting economic interdependence in oils: petroleum oils and oils obtained from bituminous minerals, crude, with Oils: petroleum oils and oils obtained from bituminous minerals, crude comprising46.1% of total imports.

The trade relationship reflects broader economic patterns and comparative advantages. The trade deficit indicates Singapore's strategic sourcing from Saudi Arabia. This partnership is characterized by complementary trade flows, with each country specializing in different product categories based on their respective economic strengths, industrial capabilities, and position in global value chains.

Download Bilateral Trade Data

Access detailed trade data between Singapore and Saudi Arabia in multiple formats.

Data Source: CEPII BACI (Base pour l'Analyse du Commerce International) • Last Updated: January 2025 • Coverage: 1995-2023