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
Singapore - Trade openness - Recent values chart

Historical series
Singapore - Trade openness - historical chart - 1960-2023




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
This site uses cookies.
Learn more here


OK