Việt Nam – Singapore trade continues to thrive

Việt Nam – Singapore trade continues to thrive

Việt Nam remained Singapore’s 10th largest trading partner in the first seven months of 2025, with two-way trade totaling S$23.1 billion (US$17.97 billion), up 26.1 per cent year-on-year.

Pasir Panjang cargo port in Singapore. VNA/VNS Photo

 Việt Nam remained Singapore’s 10th largest trading partner in the first seven months of 2025, with two-way trade totaling S$23.1 billion (US$17.97 billion), up 26.1 per cent year-on-year.

Singapore’s exports to Việt Nam reached S$16.3 billion (up 20.2 per cent), while imports from Việt Nam hit S$6.7 billion, surging by 43 per cent compared to the same period last year.

In July alone, Singapore’s trade with Việt Nam reached S$3.6 billion ($2.8 billion), up 14.6 per cent from the same period last year. Of the total, Singapore’s exports to Việt Nam stood at S$2.4 billion, unchanged from a year earlier, while imports from Việt Nam surged 58.1 per cent to S$1.2 billion.

According to Singapore’s data, the country enjoyed a trade surplus of S$9.6 billion with Việt Nam in the last seven months, up 8.2 per cent from last year. However, considering only goods of Singaporean and Việt Namese origin, Việt Nam posted a trade surplus of S$2.12 billion with Singapore in this period.

Statistics show that in this reviewed period, machinery, electrical equipment and parts (HS 85) remained Singapore’s top imports from Việt Nam, reaching S$3.4 billion, up 88.5 per cent year-on-year and accounting for 50.5 per cent of total imports from Việt Nam.

Ranked second and third were nuclear reactors, boilers, machinery and mechanical parts (HS 84) at S$1.5 billion (up 85.6 per cent), and glass and glassware (HS 70) at S$494.3 million (up 11.8 per cent).

Aside from the above-mentioned categories, most of Singapore’s other top 15 import groups from Việt Nam recorded negative growth year-on-year.

According to Vietnamese Trade Counselor in Singapore Cao Xuân Thắng, the fact that most bilateral trade is concentrated in technology and fuel reflects the unique trade structure of the two economies. He said this forms a foundation for businesses to tap new cooperation opportunities in areas of shared interest, such as supply – production chain linkages, and new trade platforms and logistics development. —

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