Vietnam becomes Singapore's 8th largest export market
Vietnam ranked as the 8th largest export market of Singapore with an export turnover of more than SGD11.7 billion (US$9.06 billion) in the first five months of this year, four places higher than that of the same period last year, according to the Vietnamese Ministry of Industry and Trade.
The ministry cited data from Enterprise Singapore as reporting that in May 2025, total import-export turnover between the two countries reached more than SGD3.16 billion, up 27.76% year-over-year. Exports from Vietnam to Singapore continued to grow well with a turnover of SGD869.3 million, up 27.1%, while import turnover grew by 28.02%, reaching nearly SGD2.3 billion.
In the first five months of 2025, the two-way trade turnover reached more than SGD16.23 billion, 28.07% higher than that of the same period last year. Of that, Vietnam's exports to Singapore increased sharply, by 37.7%, reaching nearly SGD4.53 billion and its imports reached more than SGD11.7 billion, up 24.7%.
In May, more than 94.4% of commodities that Vietnam exported to Singapore belonged to the group of machinery, equipment, mobile phones, components and spare parts of all kinds. Meanwhile, the other two main export groups - the group of reactors, boilers, machine tools and spare parts of the above machines; and the group of glass and glass products - only increased slightly or decreased.
Some other export groups also had very strong growth such as alcohol and beverages (up 104.48%); optical machines, measuring instruments, medical equipment, watches, musical instruments and accessories of all kinds (up more than 52.58%); and plastics and plastic products (up more than 48.43%). On the contrary, some groups had quite strong declines such as salt; sulfur; soil and stone; plaster, lime and cement (down 25.29%); and aquatic products (down 17.85%).
Regarding imported goods from Singapore to Vietnam, in May, the group of machinery, equipment, mobile phones, components and spare parts of all kinds increased by 61.28% and the group of reactors, boilers, machine tools and equipment and spare parts of the above machines increased by 92.44%. Meanwhile, the group of gasoline and petroleum products decreased by 12.28%.
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