Singapore imported US$406.9 billion worth of goods from around the globe in 2021.

That dollar amount reflects a 24.3% increase since 2017 and a 23.7% acceleration from 2020 to 2021.

Based on the average exchange rate for 2021, the Singapore dollar appreciated by 2.7% against the US dollar since 2017 and expanded by 2.6% from 2020 to 2021. Singapore’s stronger local currency makes Singapore’s imports paid for in weaker US dollars in 2021 relatively less expensive when converted starting from Singapore dollars.

Major Suppliers of Products Imported by Singapore

The latest available country-specific data shows that more than three-quarters (76.6%) of products imported from Singapore were supplied by exporters in: mainland China (13.4% of Singapore’s global total), Malaysia (13.2%), Taiwan (12.6%), United States of America (10%), South Korea (5.5%), Japan (5.4%), Indonesia (3.7%), United Arab Emirates (3.1%), France (2.8%), Germany (2.5%), Thailand (2.4%) and Switzerland (2%).

Applying a continental perspective, over two-thirds (69.5%) of Singapore’s total imports by value in 2021 were bought from fellow Asian countries. European trade partners supplied 14.9% of Singapore’s import purchases while another 11% worth of goods originated from North America.

Smaller percentages came from providers in Oceania (2.1%) led by Australia and New Zealand, then Africa (1.4%) and Latin America (1.2%) excluding Mexico but including the Caribbean.

Given Singapore ‘s population of 5.45 million people, its total $406.9 billion in 2021 imports translates to roughly $74,600 in yearly product demand from every person in the strategically located Asian nation. That dollar metric outpaces the average $57,000 per capita for 2020.

Singapore’s Top 10 Imports

The following product groups represent the highest dollar value in Singapore’s import purchases during 2021. Also shown is the percentage share each product category represents in terms of overall imports into Singapore.

1. Electrical machinery, equipment: US$138 billion (33.9% of total imports)
2. Mineral fuels including oil: $75.5 billion (18.5%)
3. Machinery including computers: $60 billion (14.7%)
4. Gems, precious metals: $21.5 billion (5.3%)
5. Optical, technical, medical apparatus: $14.8 billion (3.6%)
6. Organic chemicals: $9 billion (2.2%)
7. Plastics, plastic articles: $8.3 billion (2%)
8. Other chemical goods: $5.4 billion (1.3%)
9. Aircraft, spacecraft: $5 billion (1.2%)
10. Perfumes, cosmetics: $4.7 billion (1.2%)

Singapore’s top 10 imports represent more than four-fifths (84.1%) of the overall value of its product purchases from other countries.

Imported mineral fuels including oil was the fastest growing top category thanks to its 53.6% year-over-year gain, mainly propelled by greater purchases of petroleum oils (both crude and refined) as well as petroleum gas.

Other fast gainers year over year were the miscellaneous chemical goods (up 27.5%) and electrical machinery and equipment (up 26.9%) product categories.

Leading the declining import categories was aircraft and spacecraft due to its -23.2% reduction year over year.

Please note that the results listed above are at the 2-digit Harmonized Tariff System code level. Information presented under the adjacent virtual folder tabs for product groups is at the more granular 4-digit level.

Singapore’s Main Electrical Products Imports

In 2021, Singaporean importers spent the most on the following 10 subcategories of electronic equipment including consumer electronics.

1. Integrated circuits/microassemblies: US$94.5 billion (up 31.8% from 2020)
2. Phone system devices: $12.1 billion (up 4.1%)
3. Solar power diodes/semi-conductors: $6.1 billion (up 17.9%)
4. Lower-voltage switches, fuses: $2.8 billion (up 27.5%)
5. Unrecorded sound media: $2.3 billion (up 19.2%)
6. Electrical machinery: $2.12 billion (up 47.5%)
7. Electrical converters/power units: $2.08 billion (up 21.1%)
8. Electrical capacitators: $2 billion (up 40.2%)
9. Insulated wire/cable: $1.8 billion (up 26.9%)
10. Electrical/optical circuit boards, panels: $1.5 billion (up 28.3%)

Among these import subcategories, Singaporean purchases of electrical machinery (up 47.5%), electrical capacitators (up 40.2%) then integrated circuit and microassemblies (up 31.8%) grew at the fastest pace from 2020 to 2021.

These amounts and the percentage gains within parenthesis clearly show where the strongest demand lies for different types of imported electronics among Singaporean businesses and consumers.

Singapore’s Main Mineral Fuels Imports Including Oil

In 2021, Singaporean importers spent the most on the following 10 subcategories of mineral fuels-related products.

1. Processed petroleum oils: US$46.7 billion (up 49.3% from 2020)
2. Crude oil: $22.7 billion (up 57.6%)
3. Petroleum gases: $5.7 billion (up 76%)
4. Coal tar oils (high temperature distillation): $375.1 million (up 85.5%)
5. Coal, solid fuels made from coal: $60.5 million (up 77.8%)
6. Petroleum jelly, mineral waxes: $18.1 million (down -18%)
7. Asphalt/petroleum bitumen mixes: $2.6 million (up 54.3%)
8. Coke, semi-coke: $2.1 million (up 218.1%)
9. Petroleum oil residues: $2 million (down -56.1%)
10. Peat: $747,000 (up 29.7%)

Among these import subcategories, Singaporean purchases of coke or semi-coke (up 218.1%), high temperature distilled coal tar oils (up 85.5%) then coal including solid fuels made from coal (up 77.8%) grew at the fastest pace from 2020 to 2021.

These amounts and the percentage gains within parenthesis clearly show where the strongest demand lies for different types of imported mineral fuel-related products among Singaporean businesses and consumers.

Singapore’s Main Machinery Imports Including Computers

In 2021, Singaporean importers spent the most on the following 10 subcategories of machinery including computers.

1. Turbo-jets: US$14.9 billion (down -0.9% from 2020)
2. Computers, optical readers: $8.7 billion (up 7.9%)
3. Machinery for making semi-conductors: $8 billion (up 54.8%)
4. Computer parts, accessories: $4.9 billion (down -8.3%)
5. Printing machinery: $4.8 billion (up 41.4%)
6. Miscellaneous machinery: $2.3 billion (up 30.7%)
7. Taps, valves, similar appliances: $1.9 billion (up 11.8%)
8. Machinery parts: $1.4 billion (up 2.8%)
9. Centrifuges, filters and purifiers: $1.2 billion (up 7.2%)
10. Air or vacuum pumps: $1.1 billion (up 18.7%)

Among these import subcategories, Singaporean purchases of machinery for making semi-conductors (up 54.8%), printing machinery (up 41.4%) then miscellaneous machinery (up 30.7%) grew at the fastest pace from 2020 to 2021.

These amounts and the percentage gains within parenthesis clearly show where the strongest demand lies for different types of imported machinery among Singaporean businesses and consumers.

Singapore’s Gems and Precious Metals Imports

In 2021, Singaporean importers spent the most on the following 10 subcategories of gems and precious metals.

1. Gold (unwrought): US$14.5 billion (down -13% from 2020)
2. Jewelry: $3.1 billion (up 44.8%)
3. Diamonds (unmounted/unset): $1.1 billion (up 21.1%)
4. Other precious metal items: $812.2 million (up 128.6%)
5. Precious metal waste, scrap: $723.5 million (down -56.6%)
6. Silver (unwrought): $373.1 million (down -3.8%)
7. Platinum (unwrought): $370.9 million (up 100.2%)
8. Precious/semi-precious stones (unstrung): $196.7 million (up 228.7%)
9. Metals clad with platinum: $164.7 million (up 1554.8%)
10. Imitation jewelry: $129.9 million (up 8.8%)

Among these import subcategories, Singaporean purchases of metals clad with platinum (up 1554.8%), unstrung precious or semi-precious stones (up 228.7%) then miscellaneous precious metal items (up 128.6%) grew at the fastest pace from 2020 to 2021.

These amounts and the percentage gains within parenthesis clearly show where the strongest demand lies for different types of imported gems and precious metals among Singaporean businesses and consumers.

See also Singapore’s Top Trading Partners , Singapore’s Top 10 Exports, Singapore’s Top 10 Major Export Companies and China’s Top Trading Partners

Research Sources:
Central Intelligence Agency, The World Factbook Country Profiles. Accessed on June 1, 2022

International Monetary Fund, Exchange Rates selected indicators (National Currency per U.S. dollar, period average). Accessed on June 1, 2022

International Trade Centre, Trade Map. Accessed on June 1, 2022