Singapore’s imports from Vietnam continues increasing
Singapore’s imports from Vietnam continues increasing
According to International Enterprise (IE) Singapore, Singapore’s cumulative imports from Vietnam in the first seven months of this year reached almost 1.8 billion SGD (1.4 billion USD), an increase of 15.7 percent over the same period last year.
Among the key imports from Vietnam, electrical machinery and sound recorders made the highest value of 627.8 million SGD; followed by machinery appliances (nearly 217 million SGD) and glass and glassware (162.6 million SGD).
The IE Singapore also reports that Singapore’s cumulative exports to Vietnam in seven months were valued at nearly 7.8 billion SGD, equivalent to that of the corresponding period last year. Domestic exports to Vietnam almost reached 3.54 billion SGD and re-exports, 4.3 billion SGD.
Of Singapore’s exports to Vietnam, electrical machinery recorded the highest value (nearly 2.2 billion SGD) and also the biggest increase over the same period last year (118 percent).
Topping Singapore’s domestic exports to Vietnam in the first seven months was mineral fuel oils, waxes and products (over 1.35 billion SGD); followed by printed books, newspapers and products of printing industry (about 395 million SGD) and electrical machinery (about 386 million SGD).
Two-way trade between Vietnam and Singapore in 2012 was recorded at 15.8 billion SGD, of which imports from Vietnam valued at 2.8 billion SGD and exports to Vietnam, 12.9 billion SGD.
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