Singapore | Imports and Exports | World | Iron and steel | Value (US$) and Value Growth, YoY (%) | 2012 - 2023
The value of exports of commodity group 72 "Iron and steel" from Singapore totalled $ 1.94 billion in 2023. Sales of commodity group 72 from Singapore decreased by 18% in value terms compared to 2022. exports of commodity group 72 "Iron and steel" decreased by $ 428 million (cumulative exports of commodity group 72 from Singapore amounted $2.37 billion in 2022)
Exports of commodity group 72 "Iron and steel" amounted to 0.409% of total exports from Singapore (cumulative merchandise exports from Singapore totalled $ 475 billion in 2023). The share of commodity group 72 in total exports from Singapore decreased by 0.051 p.p. compared to 2022 (it was 0.461% in 2022 and cumulative exports from Singapore were equal to $ 514 billion).
Where does Singapore export Iron and steel?
Top export destinations of "Iron and steel" from Singapore in 2023:
- Indonesia with a share of 31% (620 million US$)
- Malaysia with a share of 22% (440 million US$)
- India with a share of 11.8% (230 million US$)
- Bangladesh with a share of 5.27% (102 million US$)
- China with a share of 5.24% (102 million US$)
- Australia with a share of 4.58% (89 million US$)
- Vietnam with a share of 3.44% (67 million US$)
- Korea with a share of 2% (38 million US$)
- Other Asia, nes with a share of 1.93% (37 million US$)
- Japan with a share of 1.66% (32 million US$)
Exports structure of 72 - Iron and steel - from Singapore in 2023 represented by the following main commodity groups:
- 24% (472 million US$): 7204 - Ferrous waste and scrap; remelting scrap ingots of iron or steel.
- 18.6% (363 million US$): 7208 - Flat-rolled products of iron or non-alloy steel, of a width of 600 mm or more, hot-rolled, not clad, plated or coated
- 12.9% (251 million US$): 7202 - Ferro-alloys.
- 8.19% (159 million US$): 7216 - Angles, shapes and sections of iron or non-alloy steel
- 5.12% (99 million US$): 7210 - Flat-rolled products of iron or non-alloy steel, of a width of 600 mm or more, clad, plated or coated
- 5.04% (98 million US$): 7225 - Flat-rolled products of other alloy steel, of a width of 600 mm or more
- 4.61% (89 million US$): 7214 - Other bars and rods of iron or non-alloy steel, not further worked than forged, hot-rolled, hot-drawn or hot-extruded, but including those twisted after rolling
- 3.02% (58 million US$): 7213 - Bars and rods, hot-rolled, in irregularly wound coils, of iron or non-alloy steel
- 2.77% (54 million US$): 7228 - Other bars and rods of other alloy steel; angles, shapes and sections, of other alloy steel; hollow drill bars and rods, of alloy or non-alloy steel
- 2.74% (53 million US$): 7226 - Flat-rolled products of other alloy steel, of a width of less than 600 mm
The value of imports of commodity group 72 "Iron and steel" to Singapore totalled $ 2.89 billion in 2023. Sales of commodity group 72 to Singapore decreased by 16.8% in value terms compared to 2022. imports of commodity group 72 "Iron and steel" decreased by $ 589 million (the value of imports of commodity group 72 to Singapore was equal to $3.48 billion in 2022)
Imports of commodity group 72 "Iron and steel" accounted for 0.686% of total import flow to Singapore (in 2023, total imports to Singapore amounted to $ 422 billion). The share of commodity group 72 in total imports to Singapore decreased by 0.047 p.p. compared to 2022 (it was 0.733% in 2022 and cumulative imports to Singapore were equal to $ 475 billion).
Where does Singapore import Iron and steel from?
Top trading partners (import of "Iron and steel") of Singapore in 2023:
- China with a share of 21% (634 million US$)
- Malaysia with a share of 18.6% (542 million US$)
- Japan with a share of 13.4% (390 million US$)
- Brazil with a share of 6.45% (187 million US$)
- Vietnam with a share of 6.21% (180 million US$)
- Oman with a share of 5.6% (162 million US$)
- Other Asia, nes with a share of 3.96% (114 million US$)
- Korea with a share of 3.61% (104 million US$)
- Qatar with a share of 2.66% (77 million US$)
- Sweden with a share of 1.82% (52 million US$)
Imports structure of 72 - Iron and steel - to Singapore in 2023 represented by the following main commodity groups:
- 27% (810 million US$): 7214 - Other bars and rods of iron or non-alloy steel, not further worked than forged, hot-rolled, hot-drawn or hot-extruded, but including those twisted after rolling
- 14.3% (415 million US$): 7208 - Flat-rolled products of iron or non-alloy steel, of a width of 600 mm or more, hot-rolled, not clad, plated or coated
- 10.1% (293 million US$): 7216 - Angles, shapes and sections of iron or non-alloy steel
- 7.1% (206 million US$): 7210 - Flat-rolled products of iron or non-alloy steel, of a width of 600 mm or more, clad, plated or coated
- 6.78% (196 million US$): 7202 - Ferro-alloys.
- 4.62% (134 million US$): 7225 - Flat-rolled products of other alloy steel, of a width of 600 mm or more
- 4.32% (125 million US$): 7222 - Other bars and rods of stainless steel; angles, shapes and sections of stainless steel
- 3.75% (108 million US$): 7213 - Bars and rods, hot-rolled, in irregularly wound coils, of iron or non-alloy steel
- 3.26% (94 million US$): 7228 - Other bars and rods of other alloy steel; angles, shapes and sections, of other alloy steel; hollow drill bars and rods, of alloy or non-alloy steel
- 2.96% (85 million US$): 7215 - Other bars and rods of iron or non-alloy steel
