Vietnam rises to become Singapore's ninth largest trading partner

ANTD.VN - With two-way trade turnover reaching more than 3.39 billion SGD, an increase of 16.83%, Vietnam has become Singapore's 9th largest trading partner.

Vietnamese goods exported to Singapore grow strongly

According to the Vietnam Trade Office in Singapore, in January 2025, import-export turnover between Singapore and 9/15 partners grew positively. Of which, Taiwan (China), Malaysia, China, and the US are Singapore's 4 largest trading partners with total trade turnover of: 14.9 billion SGD, 13.2 billion SGD; 12.8 billion SGD and 11.21 billion SGD, respectively.

Vietnam has risen to become Singapore's 9th largest trading partner, with two-way trade turnover of more than SGD 3.39 billion, up 16.83% over the same period in 2024.

Exports from Vietnam to Singapore reached 794 million SGD, up 16.97% and imports from Singapore to Vietnam were about 2.6 billion SGD, up 16.79%.

In the structure of goods exported from Singapore to Vietnam, goods originating from Singapore reached 759.19 million SGD, up 47.89% and goods from countries 3 through Singapore exported to Vietnam reached 1.84 billion SGD (accounting for 71%), up 7.46%.

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

Regarding the export commodity groups from Vietnam to Singapore, in January, all three main export commodity groups of Vietnam to Singapore continued to increase very strongly, specifically: Machinery, equipment, mobile phones, components and spare parts of all kinds (up 46.02%); Reactors, boilers, machine tools and equipment and spare parts of the above types of machines (up 47%); Glass and glass products (up 58.91%).

Some other industry groups also grew remarkably strongly, such as: Optical machines, measuring instruments, medical equipment, watches, musical instruments and accessories of all kinds (up 60.77%); Tobacco and tobacco substitutes (up 52.87%); Rice and cereals (up 36.43%)...

Mr. Cao Xuan Thang - Vietnam Trade Counselor in Singapore said that to continue to maintain 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 digital transformation in enterprises to reduce production costs and increase competitiveness; strengthening trade promotion activities, participating in displaying goods at international fairs and exhibitions to increase the presence of Vietnamese goods, promote products, and promote 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