Vietnam - Singapore trade maintains upward momentum
Singapore, October 23 (VNA) – Vietnam – Singapore trade relations continued to strengthen in the first nine months of 2025, with both exports and imports recording solid growth. Vietnam 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 3.2 billion SGD (about 2.47 billion USD), up 46.7% year-on-year. Singapore’s exports to Vietnam stood at 2.2 billion SGD, up 45.3%, while imports from Vietnam rose 49.9% to 1 billion SGD.
For the first nine months of 2025, total trade between the two countries hit 29.1 billion SGD, marking a 25.5% increase from the same period last year. Singapore’s exports to Vietnam rose 20.7% to 20.5 billion SGD, while imports from Vietnam surged 38.3% to 8.6 billion SGD.
Of Singapore’s total exports to Vietnam, domestically produced goods accounted for 5.6 billion SGD (up 10.6%), while re-exported goods totalled 14.9 billion SGD (up 25%). Based solely on goods originating from each country, Vietnam recorded a trade surplus of nearly 3.1 billion SGD with Singapore during the period.
Electrical machinery and equipment (HS 85) and mineral fuels and petroleum products (HS 27) continued to dominate Singapore’s exports to Vietnam, with a combined value of 14 billion SGD, or 68.4% of the total exports. Exports of HS 85 goods climbed 28.4% to 10.8 billion SGD, while HS 27 goods rose 26.7% to 3.2 billion SGD. Notably, 97.2% of HS 85 goods were re-exported, whereas 99% of HS 27 goods were produced domestically.
Other major export groups included machinery and mechanical appliances (HS 84) worth 1.6 billion SGD, plastics (HS 39) at 768.7 million SGD, and essential oils, cosmetics, and toiletries (HS 33) at 438.6 million SGD.
On the import side, HS 85 also topped the list of Singapore’s imports from Vietnam, reaching 4.4 billion SGD, up 85.7%, and accounting for 50.2% of Singapore’s total imports from Vietnam. Machinery (HS 84) ranked second at 2.1 billion SGD (up 73.6%), followed by glass and glassware (HS 70) at 627 million SGD (up 4.3%).
Vietnam’s key export categories that recorded positive growth also included seafood (HS 03) up 14.5%, optical and precision instruments (HS 90) up 31.2%, and beverages (HS 22) up 25.7%.
Vietnamese Trade Counsellor in Singapore Cao Xuan Thang 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./.
