Việt Nam, Singapore trade surges over 27 per cent in early 2025

Việt Nam, Singapore trade surges over 27 per cent in early 2025

The two-month trade reached over S$6.57 billion (approximately US$4.91 billion), solidifying Việt Nam's position as Singapore’s ninth-largest trading partner.

A shipment of 1,200 tonnes of modules is exported to Singapore by Doosan Enerbility Vietnam Heavy Industry Co Ltd. — VNA/VNS Photo

Trade between Việt Nam and Singapore continued its strong upward trend in early 2025, rising by 27.15 per cent year-on-year during the first two months, according to Enterprise Singapore (ESG).

The two-month trade reached over S$6.57 billion (approximately US$4.91 billion), solidifying Việt Nam's position as Singapore’s ninth-largest trading partner.

Ranking 14th among exporters to Singapore, Vietnamese shipments to the city state exceeded S$1.54 billion in January–February, marking a 23.21 per cent increase.

Meanwhile, Việt Nam was the seventh-biggest importer of Singaporean goods, worth nearly S$5.06 billion during the period, up 28.38 per cent.

In February alone, bilateral trade topped S$3.18 billion, a 40.41 per cent increase from the same period in 2024.

Vietnamese exports to Singapore grew by 31.01 per cent to S$721.37 million, while imports surged by 43.43 per cent to nearly S$2.46 billion last month, statistics show.

In February, Việt Nam's key imports from Singapore also posted significant increases, including mobile phones, electronic components, and spare parts (up 44.58 per cent); petrol, oil, and petroleum products (up 24.73 per cent); and industrial boilers, reactors, machine tools, and machinery spare parts (up 142.75 per cent).

Some commodities saw exceptional spikes such as lead products (up 34 times) and pharmaceuticals (up 2.3 times), whereas pearl, gem stones, and jewellery products dropped 52.48 per cent, and watches and compoments fell 42.29 per cent.

Looking ahead, Cao Xuân Thắng, Việt Nam's Trade Counsellor in Singapore, emphasised continued support for Vietnamese enterprises seeking to expand in the market.

He highlighted that efforts will be made to provide market updates, facilitate trade connectivity, and promote Vietnamese brands through trade fairs and business networking events.

Additionally, initiatives to attract Singaporean investment into Việt Nam's industrial, commercial, and service sectors will be further strengthened, he said. 

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