Vietnam is Singapore's 8th largest export market.

Producing electronic components for export at Tu Ha Industrial Park, Huong Tra town, Hue city. (Photo: Vu Sinh/VNA)

Citing statistics from the Singapore Enterprise Authority, the Ministry of Industry and Trade said that Vietnam is Singapore's 8th largest export market with a turnover of more than 11.7 billion SGD (up 24.7%).

Vietnam increased 4 places compared to the same period in 2024 (in the first 5 months of 2024, Vietnam was Singapore's 12th largest export partner).

Regarding the overview of trade between Vietnam and Singapore, in May 2025, the total import-export turnover between Vietnam and Singapore reached more than 3.16 billion SGD, an increase of 27.76% over the same period in 2024.

Exports from Vietnam to Singapore continued to grow well with a turnover of 869.3 million SGD, up 27.1%, while import turnover grew by 28.02%, reaching nearly 2.3 billion SGD.

Notably, in the structure of goods exported from Singapore to Vietnam, goods originating from Singapore decreased by 15.44%, reaching more than 509 million SGD; goods from third countries exported to Vietnam through Singapore (accounting for 78% of export turnover) increased by 49.95%, reaching nearly 1.8 billion SGD.

Although the import-export deficit is nearly 1.43 billion SGD, if only calculating the trade balance between Vietnamese goods and goods originating from Singapore, Vietnam has a trade surplus of more than 360 million SGD.

In the first 5 months of 2025, the two-way import-export turnover between Vietnam and Singapore reached more than 16.23 billion SGD, an increase of 28.07% over the same period in 2024; of which, exports increased sharply by 37.7%, reaching nearly 4.53 billion SGD and imports were more than 11.7 billion SGD, an increase of 24.7%.

In terms of origin of goods, temporarily imported and re-exported goods via Singapore to Vietnam accounted for nearly 71.88% of the total export turnover from Singapore to Vietnam, equivalent to 8.4 billion SGD. If we only count goods originating from Singapore, Vietnam had a trade surplus of about 1.24 billion SGD.

Regarding the export commodity groups from Vietnam to Singapore, in May 2025, the group of export commodities with the largest value from Vietnam to Singapore was machinery, equipment, mobile phones, components and spare parts of all kinds, which continued to increase very strongly (94.42%).

Meanwhile, the other two main export groups only increased slightly or decreased, specifically: reactors, boilers, machine tools and spare parts of the above machines (up 1.04%); glass and glass products (down 12.05%).

Some other export industries also had very strong growth such as wine and beverages (up 104.48%); optical machines, measuring instruments, medical equipment, watches, musical instruments and accessories of all kinds (up more than 52.58%); plastics and plastic products (up more than 48.43%)...

On the contrary, some groups had quite a sharp decrease: Salt; sulfur; soil and stone; gypsum, lime and cement (down 25.29%); seafood (down 17.85%).

Regarding the import groups from Singapore to Vietnam, in May, up to 2/3 of the main import groups with strong growth were machinery, equipment, mobile phones, components and spare parts of all kinds (up 61.28%) and reactors, boilers, machine tools and spare parts of the above machines (up 92.44%). The remaining group was gasoline and petroleum products, down 12.28%.

Some other groups also decreased quite sharply such as aircraft, spacecraft & parts (down 41.91%), chemicals (down 44.71%). On the contrary, some industry groups increased dramatically such as lead and lead products (up more than 5 times); toys, game equipment, sports equipment and tools (up more than 8 times).

According to the Vietnam Trade Office in Singapore, export turnover from Vietnam to Singapore in May 2025 continued to grow very well with all three turnover indicators increasing sharply, especially export turnover, thereby Vietnam maintained its position as the 10th largest trading partner and the 14th largest export partner of Singapore.

To better support Vietnamese businesses, the Singapore Trade Office will continue to update the import-export situation, new mechanisms and policies of Singapore.

At the same time, support Vietnamese businesses to connect with trade, display goods, promote business and product brands, increase the presence of Vietnamese goods in Singapore through rich and diverse forms of promotion.

In addition, the Trade Office will support delegations from Singapore to Vietnam to seek sources of goods, promote industrial, trade and service investment in Vietnam; and support Vietnamese enterprises to go to Singapore to connect for trade./.

Source: https://baoquangninh.vn/viet-nam-la-thi-truong-xuat-khau-hang-hoa-thu-8-cua-singapore-3363657.html