Singapore: Trade openness
* indicates monthly or quarterly data series
| Singapore |
Trade openness: exports plus imports as percent of GDP |
|---|---|
| Latest value | 308.77 |
| Year | 2023 |
| Measure | percent |
| Data availability | 1960 - 2023 |
| Average | 328.75 |
| Min - Max | 229.05 - 437.33 |
| Source | The World Bank |
The latest value from 2023 is 308.77 percent, a decline from 326.08 percent in 2022. In comparison, the world average is 94.91 percent, based on data from 153 countries. Historically, the average for Singapore from 1960 to 2023 is 328.75 percent. The minimum value, 229.05 percent, was reached in 1972 while the maximum of 437.33 percent was recorded in 2008.
See the global rankings or
world map for that indicator or
use the country comparator to compare trends over time.
Select indicator
* indicates monthly or quarterly data series
Recent data
Historical series
Definition: Exports plus imports as percent of GDP.
Selected articles from our guide:
Are trade deficits bad for the economy?
Sources of economic growth
Currency values and investment returns
How to write an economics research paper
All articles
| Related indicators | Latest | Reference | Measure |
|---|---|---|---|
| Terms of trade | 93.61 | 2021 | percent |
| Trade openness | 308.77 | 2023 | percent |
| Financial openness | 2.299 | 2021 | index points |
| Exports, percent of GDP | 178.78 | 2024 | percent |
| Exports, billion dollars | 873.99 | 2023 | billion U.S. dollars |
| Growth of exports | 2.38 | 2023 | percent |
| Imports, percent of GDP | 143.60 | 2024 | percent |
| Imports, billion dollars | 686.66 | 2023 | billion U.S. dollars |
| Foreign Direct Investment, percent of GDP | 27.76 | 2024 | percent |
| Foreign Direct Investment, billion dollars | 175.24 | 2023 | billion U.S. dollars |
| Portfolio investment inflows, equities | 7,025.20 | 2023 | million dollars (current) |
| Current account, percent of GDP | 19.77 | 2023 | percent |
| Current account, in dollars | 99.13 | 2023 | billion U.S. dollars |
| Trade balance, percent of GDP | 37.36 | 2023 | percent |
| Trade balance, in dollars | 187.33 | 2023 | billion U.S. dollars |
| Reserves | 383.95 | 2024 | billion U.S. dollars |
| Remittances, percent of GDP | 0.00 | 2023 | percent |
| Remittances | 0.00 | 2023 | million U.S. dollars |
| Net errors and omissions | -2,758.71 | 2023 | million USD |
| Foreign exchange reserves | 515.78 | 6/2025 | billion |