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Singapore Tariff Rate

Singapore's tariff rate fell to 0.05% in 2022, down from 0.08% in 2021, according to World Bank. This represents a decrease of 0.03% from the previous year. Singapore has the 4th lowest tariff rate. Other bottom countries are Sudan, Macao SAR China, Hong Kong and Brunei.

Yearly Historical Data (1989-2022)

(in %)
Year Tariff Rate (%)
2022 0.05%
2021 0.08%
2020 0.17%
2019 1.2%
2018 0.58%
2017 0.19%
2016 0.21%
2015 0.2%
2014 0.2%
2013 0.21%
2012 0.21%
2011 0.28%
2010 0.17%
2009 0.14%
2008 0.15%
2007 0.04%
2006 0.05%
2005 0.05%
2004 0%
2003 0.05%
2002 0.06%
2001 0.05%
2000 0.07%
1999 0.07%
1998 0.07%
1997 0.07%
1996 0.07%
1995 0.58%
1989 1.72%
Singapore Tariff Rate : Definition
Tariff Rate measures the simple average of the import taxes applied by Singapore on all products, expressed as a percentage.
Indicator Last Value Prior Value Period
Annual Exports $475.35B $514.97B 2023
Annual Imports $422.42B $475.41B 2023
Balance of Trade SGD 5.9B SGD 5B Sep'25
Exports SGD 60.9B SGD 57.7B Sep'25
Exports (% GDP) 178.78% 181.56% 2024
FDI Inflows (% GDP) 27.76% 26.21% 2024
Imports SGD 55B SGD 52.7B Sep'25
Imports (% GDP) 143.6% 144.13% 2024
Net Trade (Goods & Services, BoP) $192.58B $189.18B 2024
Trade (% GDP) 322.37% 325.69% 2024