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Who buys Singapore’s refined petroleum products? Export destinations 2024

In 2024, Singapore exported $54.4 billion of refined petroleum products (74.8 million tonnes), 6.3% of the world total. Its main destinations were Indonesia (19%), Malaysia (15%) and Australia (12%). Singapore was the world’s 2nd-largest exporter of refined petroleum products.

Summary

Value
$54.4billion
Tonnes
74.8million tonnes
Share of world total
6.3%
World rank
2nd
Routes to the main destinations. Width: value; color: estimated transport mode.SeaAirLand

Destinations

The 20 main destinations in the latest year.

PartnerValue (USD billions)TonnesUSD per tonneShareMode
Indonesia10.5Tonnes: 15,037,361USD per tonne: $69919.3%Sea
Malaysia8.4Tonnes: 12,395,356USD per tonne: $67715.4%Sea
Australia6.3Tonnes: 10,847,412USD per tonne: $58411.6%Sea
China3.7Tonnes: 3,202,169USD per tonne: $1,1666.9%Sea
Myanmar2.8Tonnes: 3,437,517USD per tonne: $8195.2%Sea
Vietnam2.6Tonnes: 3,267,172USD per tonne: $7994.8%Sea
Hong Kong re-exports2.4Tonnes: 3,896,715USD per tonne: $6044.3%Sea
United States2Tonnes: 1,602,600USD per tonne: $1,2533.7%Sea
New Zealand1.7Tonnes: 2,705,558USD per tonne: $6133.1%Sea
Sri Lanka1Tonnes: 1,458,657USD per tonne: $7181.9%Sea
Bangladesh1Tonnes: 1,670,834USD per tonne: $5981.8%Sea
France0.98Tonnes: 1,174,878USD per tonne: $8331.8%Sea
Philippines0.93Tonnes: 1,466,516USD per tonne: $6331.7%Sea
Pakistan0.91Tonnes: 1,369,473USD per tonne: $6671.7%Sea
South Korea0.81Tonnes: 1,493,390USD per tonne: $5431.5%Sea
Fiji0.67Tonnes: 930,633USD per tonne: $7181.2%Sea
Papua New Guinea0.66Tonnes: 855,655USD per tonne: $7671.2%Sea
Taiwan0.65Tonnes: 1,234,554USD per tonne: $5241.2%Sea
Cambodia0.61Tonnes: 731,148USD per tonne: $8381.1%Sea
India0.53Tonnes: 624,804USD per tonne: $8550.98%Sea

Trend

Who it sells to

Indonesia has been its main destination since 2023

Value in USD billions. The five largest destinations in 2024.

  • Indonesia 10.5
  • Malaysia 8.4
  • Australia 6.3
  • China 3.7
  • Myanmar 2.8

Source: CEPII BACI

Show the numbers
Partner19952024
Indonesia0.7610.5
Malaysia1.18.4
Australia0.216.3
China1.13.7
Myanmar0.022.8

Sources and methodology

Other products of this country

Sources and licenses

Methodology

Goods trade from CEPII BACI (BACI_HS92_V202601), which reconciles what exporters and importers report: countries that stopped reporting (Russia since 2022) appear with their partners’ data. FOB values in current US dollars; tonnes when BACI reports them. The price per tonne is the value of the rows with a weight divided by that weight. The transport mode is our own estimate based on value per kilo and geography. Data up to 2024.

Hong Kong, Singapore, the Netherlands and Belgium re-export goods from other countries: their figures include transit.

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