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Trade between Singapore and Spain

In 2024, Singapore exported $669 million to Spain and imported $1.8 billion. Singapore ran a deficit of $1.2 billion with Spain, compared with a deficit of $533 million in 2019. Spain was Singapore’s 33rd largest trading partner (0.3% of its trade), and Singapore was Spain’s 50th (0.3%).

Summary

Singapore → Spain
$669million
Spain → Singapore
$1.8billion
Singapore’s balance
-$1.2billion

Balance

Singapore’s trade balance with Spain

Trade between Singapore and Spain grew 2.5-fold since 1995

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

  • Exports 0.7
  • Imports 1.8
  • Balance -1.2

Source: CEPII BACI

Show the numbers
YearExportsImportsTrade balance
1995$373 million$619 million-$246 million
1996$378 million$602 million-$224 million
1997$395 million$602 million-$207 million
1998$441 million$404 million$37 million
1999$499 million$507 million-$9 million
2000$492 million$568 million-$77 million
2001$411 million$448 million-$37 million
2002$491 million$543 million-$52 million
2003$592 million$409 million$183 million
2004$687 million$427 million$260 million
2005$513 million$421 million$92 million
2006$905 million$663 million$242 million
2007$527 million$652 million-$125 million
2008$841 million$730 million$111 million
2009$483 million$945 million-$462 million
2010$562 million$1 billion-$445 million
2011$621 million$804 million-$182 million
2012$520 million$1.1 billion-$614 million
2013$586 million$1.2 billion-$595 million
2014$572 million$1.2 billion-$589 million
2015$501 million$779 million-$278 million
2016$403 million$793 million-$390 million
2017$397 million$862 million-$465 million
2018$529 million$1.6 billion-$1.1 billion
2019$845 million$1.4 billion-$533 million
2020$481 million$1.1 billion-$609 million
2021$600 million$1.1 billion-$473 million
2022$561 million$2 billion-$1.5 billion
2023$521 million$1.5 billion-$987 million
2024$669 million$1.8 billion-$1.2 billion

What they sell each other

What Singapore sells to Spain

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

  1. Turbojets and gas turbines$81 million · 12.1%
    29 tonnes · Singapore’s destinations
  2. Medicines in measured doses or retail packs$67 million · 10%
    263 tonnes · Singapore’s destinations
  3. Airplanes and helicopters$60 million · 8.9%
    125 tonnes · Spain’s sources
  4. Hormones$52 million · 7.8%
  5. Refined petroleum$49 million · 7.4%
    69 thousand tonnes · Singapore’s destinations
  6. Cargo and cruise ships$32 million · 4.7%
    5 thousand tonnes · Singapore’s destinations
  7. Orthopedic and hearing devices$30 million · 4.4%
    27 tonnes
  8. Chemically modified fats and oils$29 million · 4.4%
    27 thousand tonnes
  9. Physical and chemical analysis instruments$18 million · 2.7%
    36 tonnes
  10. Medical and dental instruments$16 million · 2.4%
    136 tonnes · Singapore’s destinations

What Spain sells to Singapore

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

  1. Unwrought zinc$258 million · 14%
    95 thousand tonnes · Spain’s destinations
  2. Perfumes$176 million · 9.5%
    3 thousand tonnes · Spain’s destinations
  3. Turbojets and gas turbines$170 million · 9.2%
    44 tonnes · Spain’s destinations
  4. Refined petroleum$162 million · 8.8%
    172 thousand tonnes · Spain’s destinations
  5. Paintings and drawings$156 million · 8.5%
    1 tonne
  6. Gold$73 million · 4%
    1 tonne · Spain’s destinations
  7. Airplanes and helicopters$59 million · 3.2%
    125 tonnes · Spain’s destinations
  8. Bags, suitcases and cases$58 million · 3.1%
    197 tonnes
  9. Electric locomotives$46 million · 2.5%
    1 thousand tonnes
  10. Polyethylene$35 million · 1.9%
    16 thousand tonnes · Spain’s destinations

How it travels

Estimated sea route from Singapore to Valencia.

The estimated sea route between Singapore and Valencia is 11,378 nautical miles (21,072 km) long: ≈ 26.5–34 days at sea (at 18 and 14 knots).

Because of the 2024 disruptions, traffic is split: 85% via the Strait of Malacca and Singapore, the Cape of Good Hope and the Strait of Gibraltar (11,378 nautical miles); and 15% via the Strait of Malacca and Singapore, the Bab-el-Mandeb Strait and the Suez Canal (6,905 nautical miles).

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$1.1 billion · 44.4%
  2. Air$1.4 billion · 55.6%

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

How much each matters to the other

Spain was Singapore’s 33rd largest trading partner (0.3% of its trade), and Singapore was Spain’s 50th (0.3%).

Spain in Singapore’s trade
0.3%
Spain’s rank among Singapore’s partners
33rd
Singapore in Spain’s trade
0.3%
Singapore’s rank among Spain’s partners
50th

Compare with

Other partners of Singapore

Other partners of Spain

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.