Singapore-Vietnam trade turnover picks up
(VOV) -Two-way trade turnover between Vietnam and Singapore hit more than US$8.08 billion in the first half of this year, a-year-on-year increase of 23.9%.
According to the Singapore Department of Statistics, Vietnam fetched US$1.57 billion from its exports to Singapore, 34.2% higher than the same period last year.
Five groups of high-value exports included phones and spare parts (US$538.5 million), petrol and bi-products, (US$186.3 million), boilers, machinery and equipment (US$172 million), glass and glass products for construction (US$92 million), and coffee and tea (US$87.2 million).
Meanwhile, Singapore’s exports to Vietnam hit US$6.51 billion in the past six months, up 21.7% compared to the same period last year, mostly from oil and gas (US$1.78 billion), mobile phones and components (US$1.61 billion), plastic products (US$391.5 million), and publications and printing products (US$298 million).
Among its exports to Vietnam, Made-in-Singapore products were worth US$3.1 billion, up 30.4%, while re-exported products from third countries reached nearly US$3.46 billion, up 14.8%.
By the end of June, Singapore had 1,284 investment projects operating in Vietnam with total registered capital of US$30.54 billion, ranking 3rd among 101 foreign investors in the nation.