Singapore exported US$566.1 billion worth of goods around the globe in 2025, up by 23.7% from 5 years earlier in 2021 when Singaporean exports totaled $457.7 billion.
Singapore’s total for 2025 accelerated by 12.1% compared to $504.9 billion for 2024.
The 5 most valuable countries in terms of buying products exported by Singapore are Hong Kong, mainland China, Malaysia, United States of America and Taiwan. Collectively, that powerful cohort that comprise Singapore’s top 5 imports customers generated over half (50.3%) of overall Singaporean revenues from exports sales.
Applying a continental lens, approaching three-quarters (72.6%) of Singapore exports by value was delivered to fellow Asian countries while 11.2% was sold to importers in North America. Singapore shipped another 8.4% worth of goods to buyers in Europe.
Smaller percentages went to customers in Oceania led by Australia, Marshall Islands and New Zealand (4.7%), Latin America excluding Mexico but including the Caribbean (1.58%) then Africa (1.54%).
Singapore’s Top Trading Partners
Below is a list showcasing 25 of Singapore’s top trading partners. That is, these are countries that imported the most Singaporean export shipments by dollar value during 2025. Also shown is each import country’s percentage of total Singaporean exports.
- Hong Kong: US$62.8 billion (11.1% of Singapore’s total exports)
- mainland China: $62 billion (10.9%)
- Malaysia: $56 billion (9.9%)
- United States: $54.5 billion (9.6%)
- Taiwan: $49.4 billion (8.7%)
- Indonesia: $38.6 billion (6.8%)
- Thailand: $26.8 billion (4.7%)
- South Korea: $22.7 billion (4%)
- Vietnam: $20.5 billion (3.6%)
- India: $18.9 billion (3.3%)
- Japan: $17.7 billion (3.1%)
- Australia: $16.9 billion (3%)
- Philippines: $11.2 billion (2%)
- Netherlands: $10.1 billion (1.8%)
- Germany: $7.8 billion (1.4%)
- Mexico: $7.59 billion (1.3%)
- United Kingdom: $7.58 billion (1.3%)
- Liberia: $5.9 billion (1%)
- United Arab Emirates: $5.7 billion (1%)
- Panama: $4.7 billion (0.8%)
- Marshall Islands: $4.2 billion (0.7%)
- Belgium: $3.8 billion (0.7%)
- France: $3.5 billion (0.6%)
- New Zealand: $3.3 billion (0.6%)
- Cambodia: $3.1 billion (0.6%)
Over nine-tenths (92.8%) of Singaporean exports in 2025 was delivered to the above 25 trade partners.
The greatest increases in spending on imports from Singapore were buyers in Taiwan (up 103.1% from 2024), Mexico (up 71.5%), United Kingdom (up 40.8%), Netherlands (up 35.7%), India (up 24.8%) and the United States of America (up 23.8%).
Double-digit reductions in terms of buying Singaporean exported goods were recorded by importers in the Marshall Islands (down -16.2% from 2024), Panama (down -12.8%) and mainland China (down -12.3%).
Countries Causing Worst Trading Deficits for Singapore
As defined by Investopedia, a country whose total value of all imported goods is higher than its value of all exports is said to have a negative trade balance or deficit.
It would be unrealistic for any exporting nation to expect across-the-board positive trade balances with all its importing partners. Similarly, that export country doesn’t necessarily post a negative trade balance with each individual partner with which it exchanges exports and imports.
Singapore incurred the highest trade deficits with the following countries.
- Taiwan: -US$31.7 billion (country-specific trade deficit in 2025)
- United Arab Emirates: -$9.95 billion
- France: -$9.92 billion
- South Korea: -$9.75 billion
- Japan: -$7.5 billion
- Switzerland: -$6.1 billion
- Italy: -$5.1 billion
- Qatar: -$4.7 billion
- Brazil: -$4.6 billion
- United Kingdom: -$4.3 billion
Among Singapore’s trading partners that cause the greatest negative trade balances, Singaporean deficits with Japan (up 68%), South Korea (up 30.6%) and the United Arab Emirates (up 28.3%) grew at the fastest pace from 2024 to 2025.
These cashflow deficiencies clearly indicate Singapore’s competitive disadvantages with the above countries, but also represent key opportunities for Singapore to develop country-specific strategies to strengthen its overall position in international trade.
Countries Generating Best Trading Surpluses for Singapore
Singapore earned an overall US$62.1 billion trade surplus in 2025. Singapore’s trade surplus expanded by 31.4% from $47.3 billion in black ink one year earlier in 2024.
Based on Investopedia’s definition of net importer, a country whose total value of all imported goods is lower than its value of all exports is said to have a positive trade balance or surplus.
Singapore incurred the highest trade surpluses with the following countries.
- Hong Kong: US$58.6 billion (country-specific trade surplus in 2025)
- Indonesia: $19.4 billion
- Thailand: $13.3 billion
- India: $11 billion
- Australia: $10.7 billion
- Vietnam: $10.4 billion
- Netherlands: $6.9 billion
- Philippines: $6 billion
- Liberia: $5.9 billion
- Panama: $4.7 billion
Among Singapore’s trading partners that generate the greatest positive trade balances, Singaporean surpluses with India (up 71.9%), Netherlands (up 60.4%) and Australia (up 50.4%) grew at the fastest pace from 2024 to 2025.
These positive cashflow streams clearly indicate Singapore’s competitive advantages with the above countries, but also represent key opportunities for Singapore to develop country-specific strategies to optimize its overall position in international trade.
Singapore’s Major Companies Servicing Its Trading Partners
Seventeen corporations rank among Forbes Global 2000. Below is a sample of the major Singaporean export companies that Forbes included.
- Avago Technologies (semiconductors)
- China Aviation Oil (jet fuel trading)
- Flextronics International (electronics)
- Golden Agri-Resources (food processing)
- Keppel Corp (industrial conglomerates)
- Olam International (food processing)
- ST Engineering (aerospace )
- Wilmar International (food processing)
Wikipedia also lists exporters from Singapore. Selected examples are shown below:
- Medical Technology (medical/healthcare equipment)
- Singapore Technologies Engineering (electronics manufacturing)
- Singapore Telecommunications Limited (communications)
According to global trade intelligence firm Zepol, the following smaller companies are also examples of Singaporean export companies.
- Asahi Glass Singapore (glass sheets)
- Ltt Veneer Singapore (soybean flours, hams)
- Sephora Singapore (copper pipes/tubes, cabinets)
- Wajilam Export Singapore (wood, chocolate)
See also Singapore’s Top 10 Exports , Singapore’s Top 10 Imports, 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 March 9, 2026
Forbes Global 2000 rankings, The World’s Biggest Public Companies. Accessed on March 9, 2026
International Trade Centre, Trade Map. Accessed on March 9, 2026
Investopedia, Net Exports Definition. Accessed on March 9, 2026
Zepol’s company summary highlights by country. Accessed on March 9, 2026