Việt Nam–Singapore trade continues to thrive

Việt Nam–Singapore trade continues to thrive

In December alone, Singapore’s total trade with Việt Nam reached nearly 4 billion SGD (over US$3.1 billion), representing a year-on-year increase of 30.1 per cent.

Goods cargos are loaded at Gemalink Seaport. — VNA/VNS Photo

Trade ties between Việt Nam and Singapore maintained strong momentum last year, with official statistics showing new record highs, reflecting the depth and resilience of bilateral economic cooperation.

In December alone, Singapore’s total trade with Việt Nam reached nearly 4 billion SGD (over US$3.1 billion), representing a year-on-year increase of 30.1 per cent. Of the total, shipments to Việt Nam amounted to 2.3 billion SGD, up 1.5 per cent, while imports from Việt Nam surged to 1.7 billion SGD, marking a sharp rise of 113.6 per cent, according to the Việt Nam Trade Office in Singapore, citing data from Singapore’s Accounting and Corporate Regulatory Authority.

October and December emerged as notable highlights, as Singapore’s imports from Việt Nam jumped by 109.3 per cent and 113.6 per cent, respectively, compared with the same months in 2024.

For the year as a whole, Việt Nam retained its position as Singapore’s 10th largest trading partner. Bilateral trade reached a record high of nearly 40 billion SGD, up 26.2 per cent from the previous peak of 31.67 billion SGD recorded in 2024. Singapore’s exports to Việt Nam totalled 26.8 billion SGD, an increase of 16.1 per cent, while imports from Việt Nam climbed sharply to 13.1 billion SGD, up 53.2 per cent. Considering only goods of Singaporean and Vietnamese origin, Việt Nam recorded a trade surplus of more than 5.8 billion SGD.

In 2025, machinery and electrical equipment and parts, along with fuels, mineral oils and products of their distillation, bituminous substances and mineral waxes (HS 27), remained Singapore’s two largest export categories to Việt Nam. Combined exports of these two groups reached 18.1 billion SGD, accounting for 67.6 per cent of Singapore’s total exports to the Vietnamese market.

Machinery and electrical equipment also retained the largest import category sourced by Singapore from Việt Nam last year, valued at over 6.7 billion SGD, up 112 per cent year on year and accounting for 51.2 per cent of total imports. Other key items included machinery and glass products, with steady growth across multiple manufacturing segments overall.

According to Cao Xuân Thắng, Trade Counsellor of Việt Nam in Singapore, the strong results reflect sustained trade promotion efforts, effective implementation of free trade agreements and bilateral arrangements, as well as close coordination among ministries, sectors, localities, industry associations and the business community, with the trade office playing a key role in facilitating trade and business connectivity. 

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