Việt Nam - Singapore trade maintains upward momentum

Việt Nam - Singapore trade maintains upward momentum

Singapore’s ACRA reported bilateral trade hit S$3.2 billion (US$2.47 billion) in September 2025, up 46.7 per cent year-on-year.

Smart electronic device manufacturing by VinSmart (a subsidiary of Vingroup) in its factory in the Hòa Lạc Hi-Tech Park. — VNA/VNS Photo

Việt Nam – Singapore trade relations continued to strengthen in the first nine months of 2025, with both exports and imports recording solid growth. Việt Nam remained Singapore’s 10th largest trading partner during the period.

According to statistics from Singapore’s Accounting and Corporate Regulatory Authority, total bilateral trade in September 2025 reached S$3.2 billion (about US$2.47 billion), up 46.7 per cent year-on-year.

Singapore’s exports to Việt Nam stood at S$2.2 billion, up 45.3 per cent, while imports from Việt Nam rose 49.9 per cent to S$1 billion.

For the first nine months of 2025, total trade between the two countries hit $29.1 billion, marking a 25.5 per cent increase from the same period last year. Singapore’s exports to Việt Nam rose 20.7 per cent to S$20.5 billion, while imports from Việt Nam surged 38.3 per cent to S$8.6 billion.

Of Singapore’s total exports to Việt Nam, domestically produced goods accounted for S$5.6 billion (up 10.6per cent), while re-exported goods totalled S$14.9 billion (up 25 per cent). Based solely on goods originating from each country, Việt Nam recorded a trade surplus of nearly S$3.1 billion with Singapore during the period.

Electrical machinery and equipment (HS 85) and mineral fuels and petroleum products continued to dominate Singapore’s exports to Việt Nam, with a combined value of S$14 billion, or 68.4 per cent of the total exports.

Other major export groups included machinery and mechanical appliances worth S$1.6 billion, plastics at S$768.7 million and essential oils, cosmetics and toiletries at S$438.6 million.

On the import side, electrical machinery and equipmentalso topped the list of Singapore’s imports from Việt Nam, reaching S$4.4 billion, up 85.7per cent, and accounting for 50.2 per cent of Singapore’s total imports from Việt Nam.

Việt Nam’s key export categories that recorded positive growth also included seafood (up 14.5 per cent, optical and precision instruments up 31.2per cent and beverages up 25.7 per cent.

Vietnamese Trade Counsellor in Singapore Cao Xuân Thắng highlighted the need for Vietnamese enterprises to sustain this momentum through stronger trade promotion, greater participation in trade fairs, improved product design and technological innovation to enhance product quality and competitiveness in the international market. 

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