Singapore and Vietnam's trade volume reached S$4.5 billion.
According to statistics from the Singapore Enterprise Agency, cited by the Vietnam Trade Office in Singapore, in January 2026, Vietnam was Singapore's 10th largest trading partner, with bilateral trade reaching SGD 4.5 billion (approximately USD 3.5 billion), a 33.9% increase compared to the same period in 2025. Specifically: Singapore's exports to Vietnam reached SGD 3.0 billion, a 13.6% increase; and Singapore's imports from Vietnam reached SGD 1.6 billion, a 100.5% increase.
In January 2026, total import and export turnover between Vietnam and Singapore reached SGD 4.5 billion, an increase of 33.9% compared to the same period in 2025. (Illustrative image)
In addition, Singapore is currently a net exporter, with its trade surplus with Vietnam in January 2026 reaching nearly SGD 1.4 billion, a decrease of 24.6% compared to the same period in 2025.
Top 15 main export items from Singapore to Vietnam
Regarding exports, in January 2026, two product groups – machinery and electrical equipment and parts (HS 85) and fuels, petroleum and distillate products; bituminous substances; mineral waxes (HS 27) – continued to be Singapore's top two export categories to Vietnam.
The total export value of these two groups reached S$2.2 billion, accounting for 76.2% of Singapore's total exports to Vietnam in January 2026. Regarding growth and specific values: the machinery and electrical equipment and parts group (HS 85) had an export value to Vietnam of nearly S$1.9 billion, an increase of 28% compared to the same period in 2024; while the fuels, petroleum and distillate products; bituminous substances; mineral waxes (HS 27) group reached S$384.8 million, a decrease of 28.5%.
Although both groups account for a high proportion, the nature of Singapore's exports to Vietnam differs significantly. While the machinery and electrical equipment and parts group (HS 85) has a temporary import/re-export rate from a third country of up to 94.3%, the fuels, petroleum and distillate products; bituminous substances; and mineral waxes group (HS 27) is mainly produced domestically in Singapore, with the domestic value in exports to Vietnam reaching 99.5%.
Besides the two groups mentioned above, among the Top 15 main export groups from Singapore to Vietnam in January 2026, there are several other noteworthy groups with significant export values or impressive growth, such as: Nuclear reactors, boilers, machinery and equipment and parts (HS 84) reaching SGD 166.9 million, up 23.9%; plastics and plastic products (HS 39) reaching SGD 72 million, down 11.6%; and essential oils, perfumes, cosmetics or hygiene preparations (HS 33) reaching SGD 57.4 million, up 35.6%.
Singapore's main import categories from Vietnam
Regarding imports, statistics from the Singapore Enterprise Agency show that in January 2026, the group of machinery and electrical equipment and parts (HS 85) continued to be the highest value group of goods that Singapore imported from Vietnam, reaching over SGD 657.8 million, an increase of 76.5% compared to the same period in 2025 and accounting for 41.4% of Singapore's total import value from Vietnam.
Ranking second and third in terms of import value from Vietnam to Singapore are the following groups: Nuclear reactors, boilers, machinery and equipment and parts (HS 84), reaching SGD 641.6 million, an increase of 333.8%; and glass and glass products (HS 70), reaching SGD 77.2 million, a decrease of 6.2%.
Besides the groups mentioned above, among the top 15 main import groups of Singapore from Vietnam, several significant groups are currently recording positive growth: Fuels, petroleum and distillate products; bituminous substances; mineral waxes (HS 27), reaching S$43.7 million, up 385.1%; salt; sulfur; earth and stone; gypsum, lime and cement (HS 25), reaching S$15.1 million, up 54.4%; optical/photographic/cinematic/precision measuring/ medical or surgical instruments and equipment and parts/accessories (HS 90), reaching S$9.5 million, up 23.7%; clothing and garment accessories, not knitted or crocheted (HS 62), reaching S$8.3 million, up 2.1%; edible vegetables and tubers, roots and stems (HS 07) and wood and wood products. Wood-based charcoal (HS 44) both reached nearly SGD 4 million, increasing by 24.1% and 6.1% respectively.
| Mr. Cao Xuan Thang, Vietnam's Trade Counselor in Singapore, stated that the Vietnam Trade Office in Singapore has identified 2026 as the first year of implementing the five-year socio-economic development plan for the period 2026-2030. Therefore, the Trade Office will closely follow the action plan and directives of the Ministry of Industry and Trade to implement tasks from the very first weeks and months of 2026. |
Source: https://moit.gov.vn/tin-tuc/sac-xuan-trong-xuat-khau-hang-hoa-sang-thi-truong-singapore.html
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