Sri Lanka-Singapore Bilateral Trade Analysis 2023
Complete trade statistics: $906.77M total volume •Sri Lanka deficit: $906.77M
Sri Lanka → Singapore
$0
Exports (2023)
Singapore → Sri Lanka
$906.77M
Imports (2023)
Trade Balance
$906.77M
Deficit for Sri Lanka
Total Trade
$906.77M
Combined Volume
Trade Flow Visualization
Direct trade relationship between Sri Lanka and Singapore. Green line shows exports from Sri Lanka, red line shows imports.
Detailed Product Trade Analysis
Comprehensive breakdown of trade flows by product category, revealing the specialized nature of the Sri Lanka-Singapore commercial relationship and competitive positioning in global markets.
Sri Lanka → Singapore Exports
Export Market Intelligence
🎯 Strategic Export Focus
Sri Lanka's export portfolio to Singapore demonstrates strategic specialization, with 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 representing a key competitive advantage in this bilateral market.
Singapore → Sri Lanka Imports
Import Dependency Profile
📦 Import Strategy Analysis
Sri Lanka's import pattern from Singapore reveals significant dependencyin 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, highlighting complementary economic structures and potential supply chain optimization opportunities.
Competitive Trade Position Analysis
Market Leadership
Sri Lanka demonstrates competitive strength in exportingpetroleum 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 to Singapore, leveraging comparative advantages.
Trade Complementarity
The bilateral relationship showsmoderatecomplementarity, with each country specializing in different sectors.
Growth Potential
The $906.77M trade volume indicates substantial economic integration with room for expansion in emerging sectors.
Executive Summary: Sri Lanka-Singapore Trade Relationship
Key Trade Highlights 2023
- Total Trade Volume: $906.77 millionrepresenting a significant bilateral economic relationship
- Trade Balance: Sri Lanka maintains a deficit of $906.77 million
- Export Focus: Sri Lanka's primary exports include 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, aircraft and spacecraft: parts thereof n.e.c. in chapter 88, engines: parts for internal combustion piston engines (excluding spark-ignition)
- Import Dependencies: Key imports from Singapore include 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, metals: gold, non-monetary, unwrought (but not powder), herbicides, anti-sprouting products and plant-growth regulators: other than containing goods of subheading note 1 to this chapter: put up in forms or packings for retail sale or as preparations or articles
Strategic Trade Indicators
📈 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 $906.77M 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 Sri Lanka leveraging its comparative advantages in 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.
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
Comparative Advantage
Sri Lanka's specialization in 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 oilscomplements Singapore's demand patterns, creating natural trade synergies.
Supply Chain Integration
Deep integration in global value chains has strengthened bilateral linkages, particularly in 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.
Market Access & Trade Policy
Favorable trade agreements and market access conditions have facilitated the growth of this $906.77M bilateral relationship.
Trade Pattern Insights
Trade Relationship Outlook
The $906.77M 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 $906.77 million bilateral trade volume represents a important trade relationshipfor both economies.
Industrial Integration
Trade flows in 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 and 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 demonstrate deep industrial linkages and supply chain integration.
Trade Balance Effects
Sri Lanka's trade deficit of $906.77 million impacts its overall economic position in this bilateral relationship.
Strategic Future Outlook
🚀Growth Opportunities
⚠️Risk Factors
🎯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 Sri Lanka and Singapore represents a total trade volume of $906.77 million in 2023. This partnership demonstrates an unfavorable trade balance for Sri Lanka, with imports exceeding exportsby $906.77 million.
Export Strengths
Sri Lanka's exports to Singapore total $0.00, with competitive advantages in 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, representing $23.44M orInfinity% of bilateral exports.
Import Dependencies
Imports from Singapore amount to $906.77 million, highlighting economic interdependence in 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, with 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 comprising68.8% of total imports.
The trade relationship reflects broader economic patterns and comparative advantages. The trade deficit indicates Sri Lanka's strategic sourcing from Singapore. 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.
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Data Source: CEPII BACI (Base pour l'Analyse du Commerce International) • Last Updated: January 2025 • Coverage: 1995-2023