The Vietnam Trade Office in Singapore cited statistics from the Singapore’s Accounting and Corporate Regulatory Authority, saying that the 10-month figure surpasses the previous annual record of SGD31.67 billion set in 2024, and marks a 26.7% increase year on year.

During this period, Singapore’s exports to Vietnam rose 19.4% to SGD22.7 billion while imports from Vietnam surged 46.4% to SGD10.4 billion. Exports of Singapore-made goods to Vietnam totaled SGD6.1 billion, up 6.4%.

In October alone, bilateral trade hit SGD3.9 billion, up 36.8% from October 2024, of which Singapore’s exports to Vietnam edged up 8.2% to SGD2.2 billion and imports from Vietnam soared 109.3% to SGD1.7 billion. Exports of domestically produced goods in October dropped 22.9% to nearly SGD551 million.

Considering only goods of Singaporean and Vietnamese origin, Vietnam posted a trade surplus of nearly SGD4.22 billion.

Regarding exports, statistics indicate that electrical machinery and equipment and fuels, petroleum and distillates; bituminous substances; mineral waxes were the top two categories in Singapore’s exports to Vietnam during the ten-month period. These two groups generated an export value of SGD15.4 billion, representing 68.1% of Singapore’s total exports to Vietnam.

Beyond these two categories, several other notable groups appeared among Singapore’s top 15 export categories to Vietnam. These include nuclear reactors, boilers, machinery and mechanical equipment, which reached SGD1.8 billion, up 46.9%; plastics and plastic products at SGD843.6 million, down 6.6%; and essential oils, perfumes, cosmetics, and cleaning products at SGD499 million, down 9.3%.

On the import side, electrical machinery and equipment remained Singapore’s largest import category from Vietnam, reaching nearly SGD5.4 billion, an increase of 106.7% compared with the same period in 2024, and accounting for 51.9% of Singapore’s total imports from Vietnam.

Ranking second and third were nuclear reactors, boilers, machinery and mechanical equipment, with SGD2.4 billion (up 64.2%), and glass and glass products, with nearly SGD712.8 million (up 5.5%).

Among the top 15 import categories from Vietnam, most recorded negative growth. Only three groups posted positive growth, namely fish and other crustaceans/mollusks/other aquatic invertebrates up 14.8%; optical, photographic, measuring, medical or surgical instruments up 29.6%; and beverages, spirits and vinegar up 23.6%.

Vietnam retains its position as Singapore’s third-largest rice supplier

VOV.VN - Rice continues to be one of Vietnam’s key export products to Singapore, maintaining its position as the city-state’s third-largest supplier after India and Thailand.