Exploring Singapore Exports: Top Trade Partners & Leading Exporters in Singapore

Singapore, a bustling hub of trade and commerce in Southeast Asia, has long been known for its robust export industry. With its strategic location, world-class infrastructure, and business-friendly environment, Singapore has become a key player in the global trade market. According to Singapore export data, the total value of Singapore's exports of goods reached $504.87 billion in 2024, a 6% increase from the previous year. As per the global trade data for 2024, Singapore is the 14th biggest exporter in the world with a global export share of 2.1%. In this article, we will delve into the top trade partners of Singapore and highlight some of the leading exporters in the country.

Importance of Exports in Singapore

Exports play a vital role in the economy of Singapore, accounting for a significant portion of the country's GDP, as per the Singapore international trade data. Singapore's exports are diverse, ranging from electronics and pharmaceuticals to machinery and equipment. Based on the Asia trade data, Singapore is the 5th largest exporter in the Asian continent. The country's strategic location in the heart of Asia has made it a key player in international trade, connecting markets across the globe.

Major Exports of Singapore: Top Singapore Exports by HS Code (2024-25) 

The major exports of Singapore encompass a diverse range of industries and products, as reflected in the top Singapore exports by HS code. Singapore's export economy is renowned for its electronics, chemicals, and machinery exports, with precision instruments, medical devices, and pharmaceuticals also playing a significant role as Singapore main exports. The top 10 major exports of Singapore, as per Singapore export data and Singapore trade data for 2024, include:

1. Electrical Machinery and Equipment (HS code 85): $175.74 billion

The leading export category for Singapore is electrical machinery and equipment, accounting for a staggering $175.74 billion or 34.81% of total exports. This includes items such as semiconductors, computers, and telecommunications equipment. Singapore's solid infrastructure and skilled workforce have made it a key player.

2. Nuclear Reactors and Machinery (HS code 84): $91.58 billion

Nuclear reactors and machinery are another significant contributor to Singapore's economy, bringing in $91.58 billion, or 18.14% of total exports. This category includes items like generators, turbines, and parts for nuclear power plants. Singapore's focus on renewable energy and sustainability has boosted exports in this sector.

3. Mineral Fuels and Oils (HS code 27): $56.22 billion

Singapore's export of mineral fuels and oils is valued at $56.22 billion, making up 11.14% of total exports. This category includes petroleum oils, coal, and natural gas. Singapore's strategic location as a trading hub in Asia has made it a key player in the energy sector.

4. Commodities Not Elsewhere Specified (HS code 99): $34.57 billion

Commodities not elsewhere specified account for $34.57 billion or 6.85% of total exports from Singapore. This category includes a wide range of products that do not fall under a specific HS code. Singapore's diverse economy and strong trading network have led to the growth of exports in this category.

5. Optical, Medical, or Surgical Instruments (HS code 90): $25.21 billion

Singapore's export of optical, medical, or surgical instruments is valued at $25.21 billion, representing 4.99% of total exports. This category includes items like microscopes, medical imaging equipment, and surgical tools. Singapore's reputation for high-quality healthcare and medical research has driven exports in this sector.

6. Precious Stones and Metals (HS code 71): $23.52 billion

The export of precious stones and metals brings in $23.52 billion or 4.66% of total exports for Singapore. This category includes items like gold, diamonds, and gemstones. Singapore's strong financial sector and reputation as a haven for investment have boosted exports in this category.

7. Plastics and Articles Thereof (HS code 39): $13.17 billion

Plastics and articles thereof account for $13.17 billion or 2.61% of total exports from Singapore. This category includes items like plastic containers, packaging materials, and synthetic fibers. Singapore's focus on sustainability and innovation has driven growth in exports of plastics and plastic products.

8. Organic Chemicals (HS code 29): $11.70 billion

Singapore's export of organic chemicals is valued at $11.70 billion, representing 2.32% of total exports. This category includes items like pesticides, fertilizers, and pharmaceutical ingredients. Singapore's strong chemical industry and research capabilities have led to growth in exports in this sector.

9. Essential Oils, Perfumery, and Cosmetics (HS code 33): $9.45 billion

The export of essential oils, perfumery, and cosmetics brings in $9.45 billion or 1.87% of total exports for Singapore. This category includes items like fragrances, skincare products, and essential oils. Singapore's reputation as a hub for luxury goods and beauty products has driven exports in this sector.

10. Pharmaceutical Products (HS code 30): $8.41 billion

Rounding out the top 10 exports from Singapore are pharmaceutical products, valued at $8.41 billion or 1.67% of total exports. This category includes items like medications, vaccines, and medical supplies. Singapore's strong healthcare infrastructure and focus on research and development have made it a key player in the pharmaceutical industry.

Largest Export Partners of Singapore: Singapore Exports by Country

Singapore's largest export partners play a crucial role in driving its economy through trade. The top countries that Singapore exports to include China, Malaysia, the United States, Hong Kong, and Japan. These key trading partners contribute significantly to Singapore's export industry, ensuring a stable and diversified market for its goods. The top 10 trade partners for Singapore's exports, or the leading Singapore trade partners, as per the Singapore exports by country and Singapore shipment data for 2024, include:

1. China: $70.69 billion (14%)

China remains Singapore's largest export partner, with trade between the two countries reaching $70.69 billion in 2024. Singapore's exports to China primarily consist of electronics, machinery, and petroleum products.

2. Hong Kong: $55.29 billion (11%)

As a major financial and trading hub in Asia, Hong Kong continues to be a key export destination for Singapore. In 2024, Singapore exported goods worth $55.29 billion to Hong Kong, including pharmaceuticals, chemicals, and electrical machinery.

3. Malaysia: $52.34 billion (10.4%)

Singapore's close geographical proximity to Malaysia makes it a significant trade partner for the country. In 2024, Singapore's exports to Malaysia totaled $52.34 billion, with key products including petroleum, electronics, and machinery.

4. USA: $44.03 billion (8.7%)

The United States remains a vital export market for Singapore, with trade between the two countries amounting to $44.03 billion in 2024, as per the data on US imports from Singapore. Singapore's exports to the US include machinery, pharmaceuticals, and optical and medical instruments.

5. Indonesia: $39.83 billion (7.9%)

Singapore's trade ties with Indonesia have been strengthened over the years, with exports to Indonesia reaching $39.83 billion in 2024, as per customs data on Indonesia imports from Singapore. Key export items include petroleum, machinery, and electronic products.

6. Taiwan: $24.30 billion (4.8%)

Taiwan is a significant export partner for Singapore, with trade between the two countries valued at $24.30 billion in 2024. Singapore exports a range of products to Taiwan, including integrated circuits, telecommunications equipment, and pharmaceuticals.

7. Thailand: $21.92 billion (4.3%)

Singapore's trade relationship with Thailand continues to flourish, with exports to Thailand totaling $21.92 billion in 2024. Key exports include machinery, chemicals, and electronic products.

8. South Korea: $21.27 billion (4.2%)

South Korea is a key export market for Singapore, with trade between the two countries amounting to $21.27 billion in 2024. Singapore exports a variety of goods to South Korea, including electronics, machinery, and optical instruments.

9. Japan: $17.74 billion (3.5%)

Japan remains an important export partner for Singapore, with trade between the two countries reaching $17.74 billion in 2024. Singapore exports a range of products to Japan, including electronics, machinery, and chemical products.

10. Vietnam: $17.28 billion (3.4%)

Vietnam is an emerging export market for Singapore, with trade between the two countries valued at $17.28 billion in 2024, as per the data on Vietnam imports from Singapore. Singapore's exports to Vietnam include machinery, electronics, and chemical products.

List of the Leading Export Companies in Singapore: Singapore Exporters Database (2024-25) 

Singapore Exporters Database provides a comprehensive resource of top export companies based in Singapore. This database is a valuable tool for businesses seeking to engage in international trade and partnerships. The top 10 exporters in Singapore, as per the Singapore exporters data and Singapore suppliers list for 2024-25, include: 

Singapore Exports in the Last 10 Years: Historical Singapore Export Data

Singapore Export Data Trends & Trade Performance

Singapore Export Performance Highlights: Singapore Exports 2025

• January 2025: Singapore's total exports were valued at US$43.3 billion, marking a 6.2% year-on-year increase.
• April 2025: Non-oil domestic exports surged by 12.4% year-on-year, significantly exceeding analyst expectations of a 4.3% rise. This growth was driven by increased shipments to markets such as the United States, Japan, and South Korea.

Key Singapore Export Commodities (2024)

Singapore Free Trade Agreements (FTAs) & Tariff Landscape

Key FTAs

• U.S.–Singapore Free Trade Agreement (USSFTA): Implemented in 2004, the USSFTA has significantly boosted bilateral trade, allowing for tariff-free access for most goods and services. 
• Pacific Alliance–Singapore FTA (PASFTA): Signed in 2022, it aims to eliminate tariffs on most products between Singapore and Pacific Alliance members (Chile, Colombia, Mexico, and Peru).
• MERCOSUR–Singapore FTA (MCSFTA): Signed in 2023, this agreement plans to gradually eliminate import tariffs on approximately 96% of products over 15 years. 

Tariff Environment

• General Tariff Rates: Singapore maintains a zero-tariff policy on most goods, facilitating free trade.
• U.S. Tariffs: In April 2025, the U.S. imposed a 10% tariff on all goods from Singapore. Singapore responded by forming a task force to support affected businesses and workers.

US Tariffs: Impact on Singapore

• Economic Impact: The Monetary Authority of Singapore (MAS) warned that U.S. tariffs of 10% baseline could lead to a significant negative income and demand shock, potentially reducing Singapore’s GDP growth.
• Affected Sectors: Approximately 55% of Singapore's exports to the U.S. are expected to be affected, including sectors like steel, aluminum, and automobiles.
• Government Response: Singapore's central bank eased monetary policy to mitigate the impact, and the government revised its GDP growth forecast downward to 0–2%. 

Additional Insights on Singapore Export Trade 

• Supply Chain Diversification: Singapore is encouraging businesses to diversify supply chains to mitigate risks from global trade tensions.
• Digital Trade Initiatives: The nation is investing in digital trade platforms to streamline customs procedures and enhance trade efficiency.
• Sustainability Focus: There's a growing emphasis on sustainable trade practices, with initiatives to reduce carbon footprints in logistics and manufacturing.

Conclusion

In conclusion, Singapore's exports play a vital role in driving the country's economy and fostering economic growth. By exploring the top trade partners of Singapore and the leading exporters within the country, we gain a better understanding of the global trade landscape in which Singapore operates. The strong trade relationships and export capabilities of Singapore have positioned the country as a key player in the international trade arena, driving prosperity and development for the nation.

We hope that our insightful blog on Singapore exports (2024-25) helped you gain crucial market trends on Singapore trade statistics. Visit TradeImeX to get the latest Singapore import-export data along with global trade data of 100+ countries. Contact us at info@tradeimex.in to access our latest customized database reports of Singapore trade data for the first quarter of 2025 on your fingertips!