globaltraffic.earth

Trade between Singapore and South Korea

In 2024, Singapore exported $10.8 billion to South Korea and imported $29.5 billion. Singapore ran a deficit of $18.7 billion with South Korea, compared with a deficit of $8.7 billion in 2019. South Korea was Singapore’s 6th largest trading partner (5% of its trade), and Singapore was South Korea’s 7th (3%).

Summary

Singapore → South Korea
$10.8billion
South Korea → Singapore
$29.5billion
Singapore’s balance
-$18.7billion

Balance

Singapore’s trade balance with South Korea

Trade between Singapore and South Korea grew 4.4-fold since 1995

USD billions (current). Singapore’s exports and imports; bars: its balance (green surplus, red deficit).

  • Exports 10.8
  • Imports 29.5
  • Balance -18.7

Source: CEPII BACI

Show the numbers
YearExportsImportsTrade balance
1995$2.7 billion$6.6 billion-$3.9 billion
1996$3 billion$6.3 billion-$3.3 billion
1997$2.5 billion$5.8 billion-$3.3 billion
1998$2 billion$3.5 billion-$1.5 billion
1999$2.5 billion$4.3 billion-$1.7 billion
2000$3.9 billion$5.4 billion-$1.6 billion
2001$3.2 billion$4.1 billion-$900 million
2002$3.5 billion$4.6 billion-$1.1 billion
2003$4.2 billion$5.6 billion-$1.4 billion
2004$4.6 billion$7.4 billion-$2.8 billion
2005$5.5 billion$7.9 billion-$2.4 billion
2006$6 billion$9.8 billion-$3.7 billion
2007$4.8 billion$13.6 billion-$8.8 billion
2008$8.4 billion$20.5 billion-$12.1 billion
2009$8 billion$16 billion-$8.1 billion
2010$7.8 billion$16.8 billion-$9 billion
2011$9.2 billion$22.6 billion-$13.4 billion
2012$10.1 billion$26.6 billion-$16.5 billion
2013$10.7 billion$26.8 billion-$16.1 billion
2014$11.8 billion$20.3 billion-$8.6 billion
2015$8.2 billion$18.8 billion-$10.6 billion
2016$7.3 billion$16.6 billion-$9.4 billion
2017$14.3 billion$18.1 billion-$3.8 billion
2018$8.3 billion$15 billion-$6.8 billion
2019$7.2 billion$15.9 billion-$8.7 billion
2020$8.7 billion$14.4 billion-$5.7 billion
2021$11 billion$21.1 billion-$10.1 billion
2022$10.7 billion$29.7 billion-$18.9 billion
2023$11.6 billion$24.1 billion-$12.6 billion
2024$10.8 billion$29.5 billion-$18.7 billion

What they sell each other

What Singapore sells to South Korea

The top 10 headings in 2024, with their share of the total.

  1. Microchips$3 billion · 27.5%
    305 tonnes · Singapore’s destinations
  2. Other industrial machines$2.1 billion · 19.2%
    4 thousand tonnes
  3. Refined petroleum$810 million · 7.5%
    1.5 million tonnes · Singapore’s destinations
  4. Computers$411 million · 3.8%
    1 thousand tonnes · Singapore’s destinations
  5. Cargo and cruise ships$346 million · 3.2%
    335 thousand tonnes · Singapore’s destinations
  6. Silicon wafers for electronics$335 million · 3.1%
    560 tonnes
  7. Other measuring instruments$245 million · 2.3%
    431 tonnes
  8. Vaccines, blood and antisera$217 million · 2%
    113 tonnes · Singapore’s destinations
  9. Fuel and lubricant additives$213 million · 2%
    53 thousand tonnes
  10. Radar, GPS receivers and remote controls$206 million · 1.9%
    2 thousand tonnes

What South Korea sells to Singapore

The top 10 headings in 2024, with their share of the total.

  1. Microchips$15.2 billion · 51.3%
    2 thousand tonnes · South Korea’s destinations
  2. Refined petroleum$4.7 billion · 15.8%
    7.1 million tonnes · South Korea’s destinations
  3. Cargo and cruise ships$3.5 billion · 11.8%
    3.1 million tonnes · South Korea’s destinations
  4. Other industrial machines$856 million · 2.9%
    5 thousand tonnes
  5. Computer and office machine parts$649 million · 2.2%
    1 thousand tonnes
  6. Dredgers and floating cranes$647 million · 2.2%
    705 tonnes
  7. Discs and storage media$314 million · 1.1%
    184 tonnes
  8. Makeup and skin care$221 million · 0.75%
    4 thousand tonnes · South Korea’s destinations
  9. Gold$190 million · 0.64%
    3 tonnes · South Korea’s destinations
  10. Coal tar oils$134 million · 0.45%
    237 thousand tonnes

How it travels

Estimated sea route from Singapore to Busan.

The estimated sea route between Singapore and Busan is 2,542 nautical miles (4,707 km) long: ≈ 6–7.5 days at sea (at 18 and 14 knots).

It does not cross any major canal or strait.

Sailing estimate without port calls, waiting or transshipment; not a schedule. One main reference port per country: in large countries it does not represent all of its ports.

Split by transport mode

  1. Sea$13 billion · 32.1%
  2. Air$27.4 billion · 67.9%

Mode estimated from value per kilo and geography; both directions together.

How much each matters to the other

South Korea was Singapore’s 6th largest trading partner (5% of its trade), and Singapore was South Korea’s 7th (3%).

South Korea in Singapore’s trade
5.2%
South Korea’s rank among Singapore’s partners
6th
Singapore in South Korea’s trade
2.9%
Singapore’s rank among South Korea’s partners
7th

Compare with

Other partners of Singapore

Other partners of South Korea

Sources and methodology

Sources and licenses

Methodology

Goods trade from CEPII BACI (BACI_HS92_V202601), in current US dollars, with exports and imports reconciled between countries. The transport mode is our own estimate based on value per kilo and geography. The sea route comes from our own network derived from World Bank shipping density (not from nautical charts), between one main reference port per country (World Port Index); days are the distance at 14 and 18 knots, without port calls or waiting. Data up to 2024.

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