Vietnam - Singapore import-export turnover increases to record level

Photo caption — Transporting goods at Pasir Panjang port in Singapore. Illustration photo: AFP/TTXVN

The Vietnam Trade Office in Singapore cited statistics from the Singapore Enterprise Authority, saying that during this period, bilateral trade turnover between Vietnam and Singapore exceeded a record of 31.67 billion SGD in the whole year of 2024, up 26.7% over the same period last year, of which Singapore's export turnover to Vietnam reached 22.7 billion SGD, up 19.4%; Singapore's import turnover from Vietnam reached 10.4 billion SGD, up 46.4%. In Singapore's merchandise exports, the export value of domestically produced products to Vietnam reached 6.1 billion SGD, up 6.4%.

In October 2025 alone, Singapore's total import-export turnover with Vietnam reached 3.9 billion SGD, an increase of 36.8% over the same period in 2024, of which Singapore's exports to Vietnam reached 2.2 billion SGD, an increase of 8.2%, and imports from Vietnam reached 1.7 billion SGD, an increase of 109.3%. In Singapore's merchandise exports, the export value of domestically produced products to Vietnam reached nearly 551 million SGD, a decrease of 22.9%.

If only counting goods of Vietnamese and Singaporean origin, Vietnam is having a trade surplus with Singapore, reaching nearly 4.22 billion SGD.

Regarding exports, statistics show that in the first 10 months of 2025, two groups of goods, namely Electrical machinery and equipment and parts thereof (HS 85) and Fuels, petroleum and distillates; bituminous substances; mineral waxes (HS 27), continued to be the first and second groups of goods exported from Singapore to Vietnam. The total export value of these two groups reached 15.4 billion SGD, accounting for 68.1% of Singapore's total export value to Vietnam. These two groups are also witnessing a fairly good growth rate, specifically: Electrical machinery and equipment and parts thereof (HS 85) with an export value to Vietnam of 11.9 billion SGD, an increase of 28.8% over the same period in 2024; Fuels, petroleum and distillates; bituminous substances; Mineral waxes (HS 27) reached SGD 3.5 billion, up 18.2%.

In addition to the two groups mentioned above, in the top 15 main export groups of Singapore to Vietnam in the above 10 months, there are some other notable groups such as Nuclear reactors, boilers, machinery and mechanical equipment and parts (HS 84) reaching 1.8 billion SGD, up 46.9%; Plastics and plastic products (HS 39) reaching 843.6 million SGD, down 6.6%; and Essential oils, perfumes, cosmetics or cleaning products (HS 33) reaching 499 million SGD, down 9.3%.

Regarding imports, in the first 10 months of the year, the group of Electrical machinery and equipment and parts (HS 85) continued to be the group of goods with the highest import value that Singapore imported from Vietnam, reaching nearly 5.4 billion SGD, up 106.7% over the same period in 2024 and accounting for 51.9% of Singapore's total import value from Vietnam. Ranked second and third in terms of Singapore's import value from Vietnam were the groups of Nuclear reactors, boilers, mechanical machinery and equipment and parts (HS 84) reaching 2.4 billion SGD, up 64.2%; Glass and glass products (HS 70) reaching nearly 712.8 million SGD, up 5.5%.

In addition, the remaining groups in the top 15 main import groups of Singapore from Vietnam mostly recorded negative growth compared to the same period in 2024, with only 3 groups recording positive growth: Fish and crustaceans/mollusks/other aquatic invertebrates (HS 03), reaching 101.9 million SGD, up 14.8%; Optical/photographic/cinematographic/precision measuring/ medical or surgical instruments and apparatus and parts/accessories (HS 90), reaching 96.5 million SGD, up 29.6%; Beverages, spirits and vinegar (HS 22), reaching 40.7 million SGD, up 23.6%.

Source: https://baotintuc.vn/kinh-te/kim-ngach-xuat-nhap-khau-viet-nam-singapore-tang-ky-luc-20251118075408071.htm