Vietnam-Singapore bilateral trade surpasses 2025 total in nine months
VOV.VN - Bilateral trade between Vietnam and Singapore reached a record SGD 42.8 billion during the nine-month period of 2026, up 46.8% year-on-year and surpassing the total trade volume recorded for the entire year of 2025.
According to data from Enterprise Singapore (EnterpriseSG) provided by the Vietnam Trade Office in Singapore, the island nation's exports to Vietnam reached SGD 23.4 billion, a 14.3% increase, while imports from Vietnam surged 123.2% to SGD 19.4 billion, significantly outpacing the overall import growth of the city-state from global markets during the same period. This stellar performance elevated Vietnam to Singapore's 10th-largest trading partner, with its share of total bilateral trade rising from 2.9% to 3.1%.
The structural shift was equally notable in the trade balance. When factoring in re-exports, the trade surplus of the island republic with Vietnam narrowed from approximately SGD 11.8 billion in the first nine months of 2025 to about SGD 4 billion in the same period of 2026. Considering goods of local origin alone, Singapore ran a trade deficit of SGD 12.9 billion with Vietnam, expanding sharply from around SGD 3.1 billion a year earlier. This dynamic indicates the surging inflow of Vietnamese goods into the market and underscores Vietnam's growing role within regional distribution and re-export supply chains.
The bilateral trade expansion coincided with steady economic momentum in the island city-state, where GDP grew by 5.4% year-on-year in the third quarter of 2026, bringing the nine-month average growth to approximately 6%, driven heavily by the global investment cycle in artificial intelligence (AI), data centers, and semiconductor technology. Nationally, total merchandise trade reached nearly SGD 1.39 trillion in the first nine months, up 36.9%, with re-exports surging 49.5% to account for 66.2% of total exports, reaffirming the country's status as a premier regional transshipment hub for electronic components and equipment.
Looking ahead, the Vietnam Trade Office in Singapore stated it will continue monitoring local policies, supporting Vietnamese enterprises in trade promotion, product exhibitions, and brand enhancement, while facilitating inbound delegations to source goods and explore industrial and commercial investments in Vietnam.
Achieving record trade turnover during the reviewed period demonstrates the robust expansion of bilateral economic ties, with prominent contributions from technology, electrical equipment, and machinery, providing a solid foundation for businesses from both nations to further capitalize on regional supply chain opportunities.
Vietnam, Singapore enhance financial, investment and capital connectivity
VOV.VN -Senior officials from Vietnam and Singapore held a virtual Senior Officials' Meeting (SOM) on September 16, 2026, in preparation for the 20th Singapore-Vietnam Connectivity Ministerial Meeting (CMM).
