Singapore to receive diesel shipments from Saudi Arabia

 Singapore is a prominent diesel oil importer. Typically Singapore diesel oil imports mostly came from South Korea, China, Taiwan, Russia and Saudi Arabia. Singapore import export data shows that the country's maximum diesel imports volume came from Russia. Last year, Russian diesel oil exports to Singapore crossed over 95K tonnes. Whereas, it came down to 20K tonnes this year.

Saudi Arabia was the 6th leading exporter of fuels to Singapore. Saudi Arabia was responsible for over 56% share in Singapore's fuel imports. Whereas, Saudi Arabia's refined petroleum exports to Singapore were estimated to be $1.3 billion during FY 2022.  Saudi Arabia has always been a crucial trade partner of Singapore. The trade forecast shows that Singapore is expected to receive over 400,000 tonnes this year.

Singapore import data shows that the country’s imports from Saudi Arabia totaled to be $6.8 billion in this fiscal year. The top imports include crude petroleum, refined petroleum, plastics, rubber, alcohol, ethers, etc. Crude petroleum were the top imports of Singapore from Saudi Arabia having over 32% share followed by Refined petroleum which had import share of 18%.

On the other hand, Singapore exports to Saudi Arabia were estimated to be around $1 billion in FY 2022. The top exports include petroleum products, ships, valves, malt extract, machinery, iron pipe fittings. Refined petroleum had over 17% share in Singapore’s exports followed by ships (11%), valves (7%), machinery (6%).

Singapore is also the leading importer of petroleum products. Singapore is currently the second leading importer of petroleum products accounting for over $53 billion during the last year. Singapore customs data shows that during this period, the top suppliers were China, Malaysia, South Korea, India and the United Arab Emirates. 

On the other hand, Singapore's petroleum products exports were estimated to be $43 billion during last year. The top destinations for petroleum products exports were Australia, Indonesia, Hong Kong, Malaysia and Burma. Australia fuel imports from Singapore were over 5 million dollars whereas Malaysia fuel imports were estimated to be 12 million dollars.

Singapore export data shows that the diesel oil exports were mainly to Australia, Vietnam and Malaysia. Singapore diesel oil exports to Australia totaled to be $6.8 billion during last year. Whereas, the diesel exports to Malaysia were over $6.2 billion followed by Indonesia, Hong Kong and Burma. 

Companies in Singapore can increase their return on investment from the international market with Exim Global Trade Intelligence System. It is the most effective and economical way to find buyers from the international market. It comes with the 200+ countries import export data reports in which you will get all information for country wise imports, exports, hs codes, price, buyer, supplier, and competitor records.

This platform will help you plan an effective marketing strategy and make quick & accurate business decisions on product price, quantity, sourcing information. You can make a purchase from the leading global import export data provider companies like Exim Trade Data to access the reliable and accurate information. This platform can revolutionise your business with useful global market insights.