Saudi Arabia-Singapore Bilateral Trade Analysis 2023
Complete trade statistics: $7.61B total volume •Saudi Arabia surplus: $5.65B
Saudi Arabia → Singapore
$6.63B
Exports (2023)
Singapore → Saudi Arabia
$979.62M
Imports (2023)
Trade Balance
$5.65B
Surplus for Saudi Arabia
Total Trade
$7.61B
Combined Volume
Trade Flow Visualization
Direct trade relationship between Saudi Arabia and Singapore. Green line shows exports from Saudi Arabia, red line shows imports.
Detailed Product Trade Analysis
Comprehensive breakdown of trade flows by product category, revealing the specialized nature of the Saudi Arabia-Singapore commercial relationship and competitive positioning in global markets.
Saudi Arabia → Singapore Exports
Export Market Intelligence
🎯 Strategic Export Focus
Saudi Arabia's export portfolio to Singapore demonstrates strong diversification across multiple sectors, with oils: petroleum oils and oils obtained from bituminous minerals, crude representing a key competitive advantage in this bilateral market.
Singapore → Saudi Arabia Imports
Import Dependency Profile
📦 Import Strategy Analysis
Saudi Arabia's import pattern from Singapore reveals significant dependencyin machines and mechanical appliances: having individual functions, n.e.c. or included in this chapter, highlighting complementary economic structures and potential supply chain optimization opportunities.
Competitive Trade Position Analysis
Market Leadership
Saudi Arabia demonstrates competitive strength in exportingoils: petroleum oils and oils obtained from bituminous minerals, crude to Singapore, leveraging comparative advantages.
Trade Complementarity
The bilateral relationship showsmoderatecomplementarity, with each country specializing in different sectors.
Growth Potential
The $7.61B trade volume indicates substantial economic integration with room for expansion in emerging sectors.
Executive Summary: Saudi Arabia-Singapore Trade Relationship
Key Trade Highlights 2023
- Total Trade Volume: $7.61 billionrepresenting a significant bilateral economic relationship
- Trade Balance: Saudi Arabia maintains a surplus of $5.65 billion
- Export Focus: Saudi Arabia's primary exports 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
- Import Dependencies: Key imports from Singapore 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
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 $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 Saudi Arabia leveraging its comparative advantages in oils: petroleum oils and oils obtained from bituminous minerals, crude.
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
Saudi Arabia's specialization in oils: petroleum oils and oils obtained from bituminous minerals, crudecomplements Singapore's demand patterns, creating natural trade synergies.
Supply Chain Integration
Deep integration in global value chains has strengthened bilateral linkages, particularly in machines and mechanical appliances: having individual functions, n.e.c. or included in this chapter.
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 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.
Industrial Integration
Trade flows in oils: petroleum oils and oils obtained from bituminous minerals, crude and machines and mechanical appliances: having individual functions, n.e.c. or included in this chapter demonstrate deep industrial linkages and supply chain integration.
Trade Balance Effects
Saudi Arabia's trade surplus of $5.65 billion strengthens 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 Saudi Arabia and Singapore represents a total trade volume of $7.61 billion in 2023. This partnership demonstrates a favorable trade balance for Saudi Arabia, with exports exceeding importsby $5.65 billion.
Export Strengths
Saudi Arabia's exports to Singapore total $6.63 billion, with competitive advantages in oils: petroleum oils and oils obtained from bituminous minerals, crude, representing $3.05B or46.1% of bilateral exports.
Import Dependencies
Imports from Singapore amount to $979.62 million, highlighting economic interdependence in machines and mechanical appliances: having individual functions, n.e.c. or included in this chapter, with Machines and mechanical appliances: having individual functions, n.e.c. or included in this chapter comprising8.2% of total imports.
The trade relationship reflects broader economic patterns and comparative advantages. The trade surplus indicates Saudi Arabia's competitive position in this bilateral relationship. 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 Saudi Arabia and Singapore in multiple formats.
Data Source: CEPII BACI (Base pour l'Analyse du Commerce International) • Last Updated: January 2025 • Coverage: 1995-2023