In 2023, Singapore imported goods worth $422.3 billion globally. This represented an 11.2% decrease compared to the $475.5 billion in imports recorded in 2022.

Singapore's Top 10 Import Products

Looking at two-digit HS codes, Singapore's top ten import products accounted for over four-fifths (84%) of its total procurement value from other countries:

1. Machinery/equipment: $131.3 billion (31.1%)

2. Mineral fuels, including petroleum: $87.3 billion (20.7%)

3. Machinery, including computers: $64.3 billion (15.2%)

4. Gems, precious metals: $20.8 billion (4.9%)

5. Optical/technical/medical apparatus: $13.3 billion (3.1%)

6. Organic chemicals: $11 billion (2.6%)

7. Aircraft/spacecraft: $10.2 billion (2.4%)

8. Plastics, plastic products: $6.9 billion (1.6%)

9. Perfumes, cosmetics: $4.9 billion (1.2%)

10. Other chemicals: $4.6 billion (1.1%)

Aircraft and spacecraft imports experienced the fastest growth among Singapore's top categories, increasing by 40.5% year-on-year. Another category with significant growth was organic chemicals subcategories (up 3.9% from 2022), while imports of perfumes and cosmetics into Singapore increased by 2%.

The most significant percentage decreases among Singapore's major import categories were seen in gems and precious metals (down -21.5%), miscellaneous chemical products (down -18.4%), followed by plastic materials and plastic products (down -18.3%).

Looking at more detailed four-digit HS codes, Singaporean buyers spent the most on integrated circuits and micro-components (20.8%), processed petroleum (12.6%), crude oil (6.5%), turbo-jet engines (5.1%), telecommunications equipment including smartphones (3.3%), unwrought gold (3%), computers including optical readers (2.1%), machinery for semiconductor manufacturing (1.8%), aircraft or spacecraft parts (1.4%), and solar semiconductor conductors or diodes (1.4%).

From the specific product list provided by Tendata, Singapore's top ten import products are as follows:

1. HS Code: 740311000000 (85.75%, $4,136.54 million): Copper, refined, in the form of cathodes and sections of cathodes

2. HS Code: 740200000000 (10.01%, $483 million): Copper, unrefined; copper anodes for electrolytic refining

3. HS Code: 260300000000 (2.91%, $140.47 million): Copper ores and concentrates

4. HS Code: 260900000000 (0.53%, $25.48 million): Tin ores and concentrates

5. HS Code: 261690 (0.24%, $11.67 million): Precious-metal ores and concentrates (excluding silver ores)

6. HS Code: 26169000 (0.13%, $6.05 million): Precious-metal ores and concentrates (excluding silver ores)

7. HS Code: 260500000000 (0.12%, $5.73 million): Cobalt ores and concentrates

8. HS Code: 261590000000 (0.08%, $4.01 million): Niobium, tantalum, or vanadium ores and concentrates

9. HS Code: 740319000000 (0.07%, $3.41 million): Copper, refined, unwrought

10. HS Code: 9011200000 (0.05%, $2.29 million): Decaffeinated coffee

Singapore's Major Import Suppliers

The latest Tendata Singapore import data shows that 77.3% of Singapore's import products were purchased from exporters in the following countries: China (13.9%), United States (12.3%), Taiwan (11.5%), Malaysia (11.3%), South Korea (6.1%), Japan (5%), Indonesia (3.8%), France (3.3%), United Arab Emirates (2.9%), Thailand (2.8%), Germany (2.4%), and United Kingdom (2%).

From a continental perspective, over two-thirds (66.9%) of Singapore's total imports in 2023 came from other Asian countries. European trading partners provided 15.3% of Singapore's import purchases, while an additional 13.4% of goods came from North America.

Smaller proportions originated from Oceania, led by Australia and New Zealand (1.9%), Latin America (1.6%), followed by Africa (0.9%).

How effective is Tendata Customs Data?

Shanghai Tendata is a leading global trade data provider, our data covers 218 countries and regions around the world. Among them, customs data is a very core part of Tendata's data system, which currently includes more than 80 countries around the world. Tendata first started by trade data, trade data in the customs data are from formal official channels, directly reflecting the real-time update of the relationship between the enterprises of various countries, the purchase and sale of goods, the price of the Tendata customs data information is comprehensive, true and accurate for the development of foreign customers is very valuable to use. Tendata's customs data information is comprehensive, true and accurate, which is very valuable for developing foreign customers.(>>> Click for More Details)

Of course, in addition to customs data, Tendata's business data and Internet data resources come from strategic cooperation with many well-known overseas commercial companies, and are also extremely valuable. In addition to the query function, it also helps importers and exporters to intelligently analyze the market, monitor customers and competitors, supervise and manage customers and trade dynamics. Import and export enterprises can make intelligent one-key inquiry by product, company name, HS code, SIC code and other information. It can also directly tap the key person contact information of target customers and directly get the phone number, email address and social account of the boss, purchasing and CEO. Importers and Exporters can take the initiative in a multi-method and multi-dimensional way to quickly establish contact with customers, dig deeper into customer needs and facilitate order cooperation.(>>> Click for More Details)