Việt Nam – Singapore trade posts strong growth in H1
Việt Nam – Singapore trade posts strong growth in H1
Bilateral trade reached S$19.5 billion (US$15.3 billlion) in the first six months, up 28.5 per cent year-on-year, positioning Việt Nam as the city state’s 10th largest trading partner.
Cargo handling at Pasir Panjang Port in Singapore. — VNA/VNS Photo |
Trade relations between Việt Nam and Singapore saw robust growth in the first half of 2025, statistics show.
Bilateral trade reached S$19.5 billion (US$15.3 billlion) in the first six months, up 28.5 per cent year-on-year, positioning Việt Nam as the city state’s 10th largest trading partner, according to the Accounting and Corporate Regulatory Authority (ACRA) of Singapore.
Singapore’s exports to Việt Nam totalled S$13.9 billion, up 24.4 per cent, while imports from Việt Nam amounted to S$5.5 billion, up 40.1 per cent.
For the first half of 2025, Singapore’s domestically produced exports to Việt Nam approximated S$3.9 billion, up 13.4 per cent, and re-exports reached S$10.1 billion, up 29.2 per cent. Singapore recorded a trade surplus of S$8.4 billion with Việt Nam, an increase of 15.9 per cent from the same period in 2024.
Among exports to Việt Nam, HS 85 (electrical machinery, equipment, and parts) and HS 27 (fuels, mineral oils, and related products) remained the top two categories during the reviewed period, with a combined value of S$9.5 billion, accounting for 68.3 per cent of Singapore’s total shipments to Việt Nam.
HS 85 brought in S$7.2 billion, up 30.1 per cent, while HS 27 contributed S$2.3 billion, up 24.7 per cent.
On the import side, HS 85 was also Singapore’s top import category from Việt Nam, valued at $2.7 billion, up 80.7 per cent, accounting for 49.8 per cent of all imports from Việt Nam.
Vietnamese Trade Counsellor in Singapore Cao Xuân Thắng notes that Việt Nam’s sustained position as a top trading partner reflects deepening economic ties and lays a foundation for new cooperation opportunities in the areas of mutual interest such as supply chain integration, halal market access, and green and digital initiatives.
- 14:22 24/07/2025
