Singapore interest in VN imports grows

Singapore interest in VN imports grows

According to International Enterprise (IE) Singapore, Singapore's cumulative imports from Viet Nam in the first seven months of this year reached almost S$1.8 billion (US$1.4 billion), an increase of 15.7 per cent over the same period last year.

Among the key imports from Viet Nam, electrical machinery and sound recorders made the highest value of S$627.8 million; followed by machinery appliances (nearly $217 million) and glass and glassware ($162.6 million).

The IE Singapore also reports that Singapore's cumulative exports to Viet Nam in seven months were valued at nearly S$7.8 billion, equivalent to that of the corresponding period last year. Domestic exports to Vietnam almost reached S$3.54 billion and re-exports, S$4.3 billion.

Of Singapore's exports to Viet Nam, electrical machinery recorded the highest value (nearly S$2.2 billion) and also the biggest increase over the same period last year (118 per cent).

Topping Singapore's domestic exports to Vietnam in the first seven months was mineral fuel oils, waxes and products (over S$1.35 billion); followed by printed books, newspapers and products of printing industry (about S$395 million) and electrical machinery (about S$386 million).

Two-way trade between Viet Nam and Singapore in 2012 was recorded at S$15.8 billion, of which imports from Viet Nam valued at S$2.8 billion and exports to Viet Nam, S$12.9 billion.

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