Vietnam remains Singapore’s 10th largest trading partner
VOV.VN - Vietnam has maintained its place as Singapore’s 10th largest trading partner in the first fourth months of the year, with two-way trade turnover reaching SGD10.19 billion, up more than 6.33% over the same period last year, according to the Vietnam Trade Office in the island state.
Most Vietnamese exports to Singapore enjoyed strong growth, with machinery, equipment, mobile phones, components, and spare parts up by 51.69%; reactors, steam boilers, machine tools, and related spare parts up by 62.44%; and oil and petroleum products up 5.17 times.
Among the country’s major import items from Singapore, the turnover of iron and steel went up 109%, of paper and paper products up 50.34%, and of zinc and zinc products up 5.37 times.
Cao Xuan Thang, Vietnamese Trade Counsellor to Singapore, said in April alone the total import-export turnover between both sides reached more than SGD2.48 billion, representing an annual increase of 13.54%.
Most notably, Vietnamese exports to Singapore continued to maintain a fairly strong positive growth rate of 55.03% to reach SGD772.82 million, while import turnover increased by 1.29% to more than SGD1.71 billion.
To boost exports to Singapore, Thang said the office will continue to stay updated on the import-export situation of the island state, facilitate trade connections between companies of both countries, and assist Singaporean firms in exploring sources of goods and investing in the Vietnamese market.
