Viet Nam, Singapore enjoy strong trade growth
Viet Nam, Singapore enjoy strong trade growth
Bilateral trade between Viet Nam and Singapore continued to experience strong growth during January, touching more than S$2.17 billion (over US$1.57 billion).
This reflects a year-on-year increase of 5.2 per cent, the Singapore Department of Statistics (DOS) said.
Viet Nam's exports to Singapore rose 6.2 per cent from the same period last year to S$458 million ($331.6 million).
Some key export products maintained high growth, for example, with oil and gas amounting to S$133 million ($96.3 million), while several products experience a drop, including coffee and tea, down 51.4 per cent to S$11.2 million ($8.1 million), and seafood, down 13 per cent to S$7.2 million ($5.2 million).
Meanwhile, Singapore shipped S$1.72 billion ($1.24 billion) worth of commodities to Viet Nam, with the bulk of its products seeing a jump during the period, notably beverages, up 192.5 per cent to S$87.4 million ($63.3 million), chemicals, up 182 per cent to S$31.8 million ($23.02 million), and telephones and components, up 146.3 per cent to S$680 million ($492.3 million).
Of the imports, made-in-Singapore products accounted for S$621 million ($450 million), and increased by 5.8 per cent.
Last year, bilateral trade hit $15.6 billion, indicating a 20.3 per cent surge from 2013, the DOS revealed.
