Singapore-Vietnam two-way trade totaled 13.538 billion SGD (equivalent to 10.83 billion USD) for the first eight months of 2014, a 22.2- percent year-on-year increase, according to the Singapore Department of Statistics.
During the period, Vietnam’s exports to Singapore maintained strong growth, hitting over 2.57 billion SGD (2.05 billion USD), rising by 22.4 percent compared to the figure of the same period last year.
The country’s leading export products were cellphones, electronic devices and components (839 million SGD); machinery and spare parts (over 256 million SGD); and crude oil (over 246 million SGD).
However, the trading value of items made from iron and steel, paper and paper products as well as beverages saw a decline.
Meanwhile, Singapore exported over 10.96 billion SGD (8.77 billion USD) worth of locally-made and re-exported commodities to the Vietnamese market, going up 22.2 percent year on year.
A number of those exports, including food and processed products; cigarettes and tobacco; oil and petrol; and optical and measurement devices and equipment, grew rapidly.-VNA