 |
| Workers in an electronic component assembly line of the factory of the Bao Sen Co. Ltd in Bac Ninh province. (Photo: VNA) |
Singapore (VNA) – Vietnam has continued to strengthen its position as Singapore’s 10th largest trading partner, with bilateral trade reaching a total of 33 billion SGD (around 25.3 billion USD) in the first ten months of 2025, setting a new record for their trade volume.
The Vietnam Trade Office in Singapore cited statistics from the Singapore Accounting and Corporate Regulatory Authority (ACRA) as showing that during this period, bilateral trade exceeded the full-year 2024 record of 31.67 billion SGD to increase 26.7% compared to the same period last year.
Exports from Singapore to Vietnam hit 22.7 billion SGD, up 19.4%, while imports were 10.4 billion SGD, up 46.4%. Among the city state’s exports, domestically produced goods shipped to Vietnam went up 6.4% to 6.1 billion SGD.
In October 2025 alone, total trade between the two countries amounted to 3.9 billion SGD, up 36.8% year-on-year. Singapore’s exports to Vietnam stood at 2.2 billion SGD, up 8.2%, while imports surged 109.3% to 1.7 billion SGD. Made-in-Singapore exports to Vietnam during this month fell 22.9% to nearly 551 million SGD.
Considering only goods originating from the two countries, Vietnam maintained a trade surplus of nearly 4.22 billion SGD with Singapore.
Among Singapore’s exports, machinery and electrical equipment and parts (HS 85) and fuels, petroleum products, bituminous substances and mineral waxes (HS 27) remained the top two categories over the 10 months, with a combined export value of 15.4 billion SGD, accounting for 68.1% of Singapore’s total shipments to Vietnam. The HS 85 commodities saw exports of 11.9 billion SGD, while the HS 27 ones secured 3.5 billion SGD, respectively rising 28.8% and 18.2% from a year earlier.
Other notable items among Singapore’s main 15 export categories to Vietnam during the reviewed period included nuclear reactors, boilers, machinery and mechanical equipment and parts (HS 84) at 1.8 billion SGD, up 46.9%; plastics and articles thereof (HS 39) at 843.6 million SGD, down 6.6%; and essential oils, perfumes, cosmetics or toiletries (HS 33) at 499 million SGD, down 9.3%.
On the import side, machinery and electrical equipment and parts (HS 85) remained Singapore’s largest import from Vietnam, valued at nearly 5.4 billion SGD, soaring106.7% year-on-year and accounting for 51.9% of its total imports from Vietnam. The second and third largest imports were nuclear reactors, boilers, machinery and mechanical equipment and parts (HS 84) at 2.4 billion SGD, up 64.2%, and glass and glassware (HS 70) at nearly 712.8 million SGD, up 5.5%.
Among the remaining top import categories, most recorded contraction compared to the same period in 2024. Only three saw expansion: fish, crustaceans, molluscs and other aquatic invertebrates (HS 03) at 101.9 million SGD, up 14.8%; optical, photographic, cinematographic, measuring, checking, medical or surgical instruments and parts/accessories (HS 90) at 96.5 million SGD, up 29.6%; and beverages, spirits and vinegar (HS 22) at 40.7 million SGD, up 23.6%, data show./.
