Vietnam has risen to become Singapore's ninth largest trading partner.

ANTD.VN - With bilateral trade reaching over SGD 3.39 billion, an increase of 16.83%, Vietnam has risen to become Singapore's ninth largest trading partner.

Vietnamese goods exported to Singapore are experiencing strong growth.

According to the Vietnam Trade Office in Singapore, in January 2025, import and export turnover between Singapore and 9 out of 15 partners showed positive growth. Among them, Taiwan (China), Malaysia, China, and the United States were Singapore's four largest trading partners, with total trade turnovers of SGD 14.9 billion, SGD 13.2 billion, SGD 12.8 billion, and SGD 11.21 billion respectively.

Vietnam has risen to become Singapore's ninth largest trading partner, with bilateral trade exceeding SGD 3.39 billion, a 16.83% increase compared to the same period in 2024.

Exports from Vietnam to Singapore reached S$794 million, an increase of 16.97%, while imports from Singapore to Vietnam totaled approximately S$2.6 billion, an increase of 16.79%.

In the structure of goods exported from Singapore to Vietnam, goods originating from Singapore reached SGD 759.19 million, an increase of 47.89%, and goods from third countries exported to Vietnam via Singapore reached SGD 1.84 billion (accounting for 71%), an increase of 7.46%.

If we consider only the trade balance between Vietnamese goods and goods originating from Singapore, Vietnam has a trade surplus of approximately 34.8 million SGD.

Regarding export sectors from Vietnam to Singapore, in January, all three key export groups continued to experience strong growth, specifically: Machinery, equipment, mobile phones, components and spare parts (up 46.02%); Reactors, boilers, machine tools and equipment and spare parts for these machines (up 47%); Glass and glass products (up 58.91%).

Several other sectors also experienced significant growth, including: Optics, measuring instruments, medical equipment, watches, musical instruments and accessories (up 60.77%); Tobacco and tobacco substitutes (up 52.87%); Rice and cereals (up 36.43%)...

Mr. Cao Xuan Thang, Vietnam's Trade Counselor in Singapore, said that in order to continue maintaining growth momentum, industry associations and businesses need to closely monitor developments in the area, especially new policies and regulations on product quality standards;

Innovating management methods and implementing digital transformation in businesses aims to reduce production costs and increase competitiveness; strengthening trade promotion activities and participating in international trade fairs and exhibitions to increase the presence of Vietnamese goods, promote products, and advertise Vietnamese brands to local consumers.

Source: https://www.anninhthudo.vn/viet-nam-vuon-len-thanh-doi-tac-thuong-mai-lon-thu-chin-cua-singapore-post604041.antd