The most valuable Singaporean imports also include fossil fuels including both refined and crude oils as well as petroleum gases. Aircraft and spacecraft represent other areas where Singapore’s domestic supply lags demand, which explains why turbo-jets and aircraft parts also place among Singapore’s top 20 imports.
The following list shows on which product categories Singaporean importers spent the most. Unlike most information currently available on the web, the items below are detailed at the 4-digit tariff code level.
This level of granularity can help entrepreneurs identify more precisely which products in which Singapore has strong demand but competitive disadvantages compared with other nations. Innovation can transform these disadvantages into lucrative business opportunities.
For the most recent four-digit HTS code data, please see the link to Singapore’s Top 10 Imports article in the See also paragraph above Research Sources below.
Highest Value Singaporean Import Products
Below are the 20 highest value import products delivered to Singaporean importers in 2017. Shown within brackets is the change in value for each imported product over the 5-year period starting in 2013.
- Integrated circuits/microassemblies: US$59.2 billion (Down -0.2% from 2013 to 2017)
- Processed petroleum oils: $46.7 billion (Down -37.4%)
- Crude oil: $21.4 billion (Down -39.7%)
- Gold (unwrought): $13.1 billion (Up 667.5%)
- Phone system devices including smartphones: $9.1 billion (Down -2.3%)
- Turbo-jets: $8.7 billion (Up 13.1%)
- Computers, optical readers: $6.5 billion (Down -1.2%)
- Aircraft parts: $6.1 billion (Up 15.1%)
- Solar power diodes/semi-conductors: $5.2 billion (Up 11.6%)
- Computer parts, accessories: $5 billion (Down -12.2%)
- Machinery for making semi-conductors: $4.4 billion (Up 93.1%)
- Petroleum gases: $4 billion (Down -39.2%)
- Printing machinery: $3.4 billion (Up 4.2%)
- Jewelry: $2.6 billion (Down -32.6%)
- Machinery parts: $2.4 billion (Down -51%)
- Ethylene polymers: $2.4 billion (Up 28.9%)
- Lower-voltage switches, fuses: $2.3 billion (Down -3%)
- Beauty/makeup/skin care preparations: $2.2 billion (Up 56.9%)
- Unrecorded sound media: $2.1 billion (Up 25.1%)
- Electro-medical equipment (e.g. xrays): $2 billion (Down -6.7%)
Among these product categories, gold posted the greatest increase in Singaporean import purchases via its 667.5% gain.
In second place were imported machinery for making semi-conductors, up by 93.1%.
Singaporean imports of beauty, makeup and skin care preparations improved by 56.9%.
See also Singapore’s Top 10 Major Export Companies, Singapore’s Top Trading Partners, Singapore’s Top 10 Imports and Singapore’s Top 10 Exports
Research Sources:
International Monetary Fund, World Economic Outlook Database (GDP based on Purchasing Power Parity). Accessed on February 5, 2018
The World Factbook, Field Listing: Imports and World Population, Central Intelligence Agency. Accessed on February 5, 2018
Trade Map, International Trade Centre, www.intracen.org/marketanalysis. Accessed on February 5, 2018