$951.68 billion in 2024, ranking Singapore 15th globally.
Exports Value
$494.88 billion in 2024, ranking 13th worldwide.
Imports Value
$456.88 billion in 2024, ranking 16th globally.
Trade Value Change (2019-2024)
Total trade value increased by $201.78 billion since 2019.
Forecasted Growth (2024-2029)
Total trade expected to grow by 3.8% annually, reaching $1,282.18 billion by 2029.
Trade Volume Growth Rate (2019-2024)
Total trade volume grew by 2.7%, with exports at 5.0% and imports at 2.5%.
Singapore is a global trade powerhouse, known for its strategic location and robust economic policies. This report provides a detailed analysis of Singapore’s trade performance in 2024, focusing on key data, trade values, and growth forecasts through 2029. Using data from a comprehensive infographic, we explore trade value changes, growth rates, and rankings. For businesses looking to engage in this market, partnering with a logistics provider like SLG Logistics can streamline shipping operations. This report offers valuable insights for businesses, policymakers, and researchers interested in Singapore’s trade trends.
Key Trade Data and Rankings (2024)
Singapore’s trade landscape remains strong, reflecting its position as a global trade hub. Here’s a breakdown of the key figures for 2024:
Metric
Value
Global Rank
Total Trade Value
$951.68 billion
15th
Exports
$494.88 billion
15th
Imports
$456.88 billion
16th
Trade Value Changes (2019–2024)
Metric
Change
2019 Value
2024 Value
Total Trade Value
+$201.78 billion
$749.90 billion
$951.68 billion
Export Value
+$104.18 billion
$390.70 billion
$494.88 billion
Import Value
+$97.68 billion
$359.20 billion
$456.88 billion
Trade Volume Changes (2019–2024)
Metric
Change
2019 Value
2024 Value
Total Trade Volume
+$118.58 billion
$833.10 billion
$951.68 billion
Export Volume
+$131.48 billion
$363.40 billion
$494.88 billion
Import Volume
+$50.08 billion
$406.80 billion
$456.88 billion
Trade Volume Growth Rates (2019–2024)
Metric
Growth Rate
Global Rank
Total Trade Volume
2.7%
76th
Export Volume
5.0%
67th
Import Volume
2.5%
90th
Forecasted Trade Growth (2024–2029)
Metric
Forecasted Value (2029)
Annual Growth Rate
Global Rank
Total Trade
$1,282.18 billion
3.8%
78th
Exports
$631.48 billion
3.7%
82nd
Imports
$650.78 billion
3.8%
77th
The trade value growth chart (2000–2029) indicates a steady upward trend, with a forecasted annual growth rate of 3.8% through 2029. This growth reflects Singapore’s resilience and adaptability in the global market, despite regional variations in trade performance. For businesses looking to capitalize on this growth, SLG Logistics offers air freight services to ensure fast and secure delivery of goods.
Singapore’s trade performance in 2024 underscores its position as a global trade leader, with a total trade value of $951.68 billion and strong rankings in both exports and imports. The forecasted growth of 3.8% annually through 2029 signals a promising future, driven by Singapore’s strategic trade policies and robust logistics infrastructure. For businesses and policymakers, understanding these trends is crucial for strategic planning. Whether you’re exporting goods to Singapore or importing from this hub, partnering with SLG Logistics can help you navigate these opportunities with expert shipping and logistics solutions tailored to your needs.
Contact us today to learn about our international freight forwarding services from the UK to Southeast Asia.
