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Singapore-EU trade in goods: €16 billion surplus

13/08/2019

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Singapore was the EU's 20th largest partner for imports of goods (1% of total extra-EU imports) and the 13th largest for EU exports of goods (2% of total extra-EU exports) in 2018.

Graph illustrating the trade balance between Singapore and the EU from 2008 until 2018

Between 2008 and 2018, the EU ran a trade surplus with Singapore (meaning that it exported more than it imported). This trade surplus was lowest in 2009 and 2010 at €6 billion. In 2018, it peaked at €16 billion, with €37 billion worth of exports of goods from the EU to Singapore and €21 billion of imports from Singapore to the EU.

Infographic illustrating the trade balance between Singapore and the EU in 2018

EU exports to Singapore were dominated by "machinery and vehicles", "chemicals" and "other manufactured products", which together accounted for 79% of EU exports to Singapore. These categories dominated imports even more, making up 86% of EU imports from Singapore. At a more detailed level, "aircraft" were the EU’s most exported product to Singapore, while "organo-inorganic compounds" were the most imported product from Singapore.

Belgium and France: main traders with Singapore among the Member States
Among the Member States, Belgium was the largest importer of goods from Singapore (€5 billion), while France was the largest exporter to Singapore (€8 billion) in 2018.

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