Việt Nam–Singapore trade witnesses strong growth amid global volatility

Việt Nam–Singapore trade witnesses strong growth amid global volatility

Việt Nam–Singapore trade surged 38.3 per cent in Q1 2026, driven by strong gains in electronics, fuel and machinery, highlighting deepening integration into global supply chains.

Container trucks operate at Gemalink International Port, part of the Cái Mép port complex in Tân Phước Ward. — VNA/VNS Photo

Việt Nam–Singapore trade posted strong growth in the first quarter of 2026, with key product groups recording two-way expansion amid ongoing global volatility.

Việt Nam remained Singapore’s 10th largest trading partner during the period. The country was also a major trading source for Singapore across three key categories: electrical machinery and equipment and parts (HS85); mineral fuels, oil and related products (HS27); and nuclear reactors, boilers, machinery and mechanical appliances (HS84).

All three groups recorded growth in both exports and imports. HS85 exports from Singapore to Việt Nam rose 9.4 per cent, while imports surged 147 per cent. HS27 exports increased 15.5 per cent and imports 380.9 per cent, while HS84 products rose 24.7 per cent and 245.5 per cent, respectively.

A report by Singapore’s Ministry of Trade and Industry showed that non-oil domestic exports (NODX) and re-exports (NORX) rose 15.3 per cent and 61.4 per cent, respectively, in March 2026.

The data point to stronger participation in global value chains, particularly in electronic components linked to artificial intelligence. Petrol-related trade values also increased alongside global oil prices.

Data from Enterprise Singapore showed that bilateral trade reached S$13.6 billion (US$10.6 billion) in Q1, up 38.3 per cent year-on-year. Singapore’s exports to Việt Nam rose 6.5 per cent to S$7.7 billion, while imports jumped 128.7 per cent to S$5.8 billion. 

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