Singapore imported US$457.5 billion worth of goods from around the globe in 2024.

That dollar amount results from a 39.1% advance compared to $328.8 billion five years earlier during 2020.

Year over year, the overall value of Singaporean spending on imports increased by 8.3% from $422.5 billion in 2023.

Based on the average exchange rate for 2024, the Singapore dollar appreciated by 0.5% against the US dollar from 2023 to 2024. Singapore’s slightly stronger local currency makes Singapore’s imports paid for in somewhat weaker US dollars in 2024 relatively less expensive when converted starting from Singapore dollars.

Major Suppliers of Products Imported by Singapore

The latest available country-specific data shows that more than three-quarters (76.5%) of products imported from Singapore was supplied by exporters in: Taiwan (13.8% of the Singaporean total), mainland China (12.4%), United States of America (12.2%), Malaysia (11.2%), South Korea (6.3%), Japan (4.9%), Indonesia (3.4%), France (2.8%), United Arab Emirates (2.8%), Thailand (2.5%), Germany (2.1%) and United Kingdom (2%).

Applying a continental perspective, two-thirds (66.7%) of Singapore’s total imports by value in 2024 were bought from sellers located in fellow Asian countries. European trade partners supplied 14.7% of Singapore’s import purchases while another 13.7% worth of products originated from North America.

Smaller percentages came from providers in Oceania (1.91%) led by Australia and New Zealand, Latin America (1.87%) excluding Mexico but including the Caribbean, then Africa (1.1%).

Given Singapore ‘s population of 5.94 million people, its total $457.5 billion in 2024 imports translates to roughly $77,100 in yearly product demand from every person in the strategically located Asian nation. That dollar metric surpasses the average $74,600 per capita for 2023.

Singapore’s Top 10 Imports

The following product groups represent the highest dollar value in Singapore’s import purchases during 2024. Also shown is the percentage share each product category represents in terms of overall imports into Singapore.

1. Electrical machinery, equipment: US$144.1 billion (31.5% of total imports)
2. Mineral fuels including oil: $87.2 billion (19.1%)
3. Machinery including computers: $82.7 billion (18.1%)
4. Gems, precious metals: $24.7 billion (5.4%)
5. Optical, technical, medical apparatus: $13.9 billion (3%)
6. Aircraft, spacecraft: $8.6 billion (1.9%)
7. Organic chemicals: $7.9 billion (1.7%)
8. Plastics, plastic articles: $7.1 billion (1.5%)
9. Pharmaceuticals: $5.8 billion (1.3%)
10. Perfumes, cosmetics: $4.8 billion (1.1%)

Singapore’s top 10 import product categories represent well over four-fifths (84.5%) of the overall value of its product purchases from other countries.

Imported pharmaceuticals was the fastest-growing top category propelled by a 32.3% year-over-year upturn

Another fast gainer year over year was the machinery including computers subgroup (up 28.7% from 2023).

Imports of gems and precious metals into Singapore rose 18.4%, propelled by greater spending on imported gold.

Double-digit declines among Singapore’s leading import categories belong to organic chemicals (down -29%) then aircraft and spacecraft (down -15.4%).

Please note that the results listed above are at the 2-digit Harmonized Tariff System code level. Information presented below is at the more granular 4-digit level.

From the more detailed perspective, buyers in Singapore spent the most on electronic integrated circuits and microassemblies (21.4% of Singapore’s total imports), processed petroleum oils (11.5%), crude oil (5.9%), turbo-jets (5.4%), computers including optical readers (4.3%), unwrought gold (3.8%), phone devices including smartphones (3.2%), machinery for making semi-conductor (2%), petroleum gases (1.4%), then solar power semi-conductors or diodes (1.3%).

Singapore’s Main Electrical Products Imports

In 2024, Singaporean importers spent the most on the following 10 subcategories of electronic equipment including consumer electronics.

1. Integrated circuits/microassemblies: US$97.8 billion (up 11.6% from 2023)
2. Phone devices including smartphones: $14.6 billion (up 8.8%)
3. Solar power diodes/semi-conductors: $6.1 billion (up 3.6%)
4. Lower-voltage switches, fuses: $2.6 billion (up 3.1%)
5. Electrical machinery: $2.59 billion (up 5.7%)
6. Unrecorded sound media: $2.53 billion (up 17.9%)
7. Electrical converters/power units: $2.2 billion (down -8.1%)
8. Insulated wire/cable: $2.1 billion (up 9.8%)
9. Electrical/optical circuit boards, panels: $1.9 billion (up 18%)
10. Electrical capacitators: $1.6 billion (up 12.9%)

Among these import subcategories, Singaporean purchases of electrical or optical circuit boards and panels (up 18%), unrecorded sound media (up 17.9%) then electrical capacitators (up 12.9%) grew at the fastest pace from 2023 to 2024.

These amounts and the percentage gains within parenthesis clearly show where the strongest demand lies for different types of imported electronics among Singaporean businesses and consumers.

Singapore’s Main Mineral Fuels Imports Including Oil

In 2024, Singaporean importers spent the most on the following 10 subcategories of mineral fuels-related products.

1. Processed petroleum oils: US$52.7 billion (down -0.9% from 2023)
2. Crude oil: $27.2 billion (down -0.9%)
3. Petroleum gases: $6.2 billion (up 5.1%)
4. Coal tar oils (high temperature distillation): $1.1 billion (up 48.7%)
5. Coal, solid fuels made from coal: $43.8 million (down -44.3%)
6. Petroleum oil residues: $12.2 million (up 346.7%)
7. Petroleum jelly, mineral waxes: $10.2 million (up 13.3%)
8. Asphalt/petroleum bitumen mixes: $3.4 million (up 6%)
9. Natural bitumen, asphalt, shale: $1.6 million (down -77.3%)
10. Electrical energy: $1.4 million (down -86.7%)

Among these import subcategories, Singaporean purchases of petroleum oil residues (up 346.7%), high temperature distilled coal tar oils (up 48.7%), then petroleum jelly and mineral waxes (up 13.3%) grew at the fastest pace from 2023 to 2024

These amounts and the percentage gains within parenthesis clearly show where the strongest demand lies for different types of imported mineral fuel-related products among Singaporean businesses and consumers.

Singapore’s Main Machinery Imports Including Computers

In 2024, Singaporean importers spent the most on the following 10 subcategories of machinery including computers.

1. Turbo-jets: US$24.7 billion (up 13.7% from 2023)
2. Computers, optical readers: $19.8 billion (up 125.1%)
3. Machinery for making semi-conductors: $9.2 billion (up 17.8%)
4. Computer parts, accessories: $5.5 billion (up 35.1%)
5. Printing machinery: $2.7 billion (up 21.1%)
6. Taps, valves, similar appliances: $2.2 billion (up 4.9%)
7. Miscellaneous machinery: $2.1 billion (up 19.1%)
8. Air or vacuum pumps: $1.9 billion (up 16.3%)
9. Machinery parts: $1.6 billion (down -3.4%)
10. Centrifuges, filters and purifiers: $1.6 billion (up 8.2%)

Among these import subcategories, Singaporean purchases of computers including optical readers (up 125.1%), computer parts or accessories (up 35.1%) then printing machinery (up 21.1%) grew at the fastest pace from 2023 to 2024

These amounts and the percentage gains within parenthesis clearly show where the strongest demand lies for different types of imported machinery among Singaporean businesses and consumers.

Singapore’s Gems and Precious Metals Imports

In 2024, Singaporean importers spent the most on the following 10 subcategories of gems and precious metals.

1. Gold (unwrought): US$17.6 billion (up 40.1% from 2023)
2. Jewelry: $4.5 billion (down -8%)
3. Precious metal waste, scrap: $1 billion (down -23.2%)
4. Other precious metal items: $379.3 million (down -23.8%)
5. Diamonds (unmounted/unset): $322.2 million (down -44.2%)
6. Platinum (unwrought): $237.8 million (up 1.9%)
7. Precious/semi-precious stones (unstrung): $175.4 million (down -0.7%)
8. Silver (unwrought): $158.5 million (down -37.2%)
9. Imitation jewelry: $117 million (down -19.2%)
10. Natural pearl/precious stone items: $67.8 million (up 17.3%)

Among these import subcategories, Singaporean purchases of unwrought gold (up 40.1%), natural pearl or precious stone items (up 17.3%) then unwrought platinum (up 1.9%) grew from 2023 to 2024

These amounts and the percentage gains within parenthesis clearly show where the strongest demand lies for different types of imported gems and precious metals among Singaporean businesses and consumers.

See also Singapore’s Top Trading Partners , Singapore’s Top 10 Exports, Singapore’s Top 10 Major Export Companies and China’s Top Trading Partners

Research Sources:
Central Intelligence Agency, The World Factbook Country Profiles. Accessed on April 18, 2025

International Monetary Fund, Exchange Rates selected indicators (Domestic Currency per U.S. dollar, period average). Accessed on April 18, 2025

International Trade Centre, Trade Map. Accessed on April 18, 2025

X-rates.com, Exchange Rates: Singapore Dollar to US Dollar (monthly average 2024). Accessed on April 18, 2025