Vietnam's exports to Singapore maintain high growth
Vietnam's exports to Singapore surged by 35.23% in September, maintaining a high year-on-year growth rate in the first nine months of 2024, at 31.55%.
Last month, all three main export commodity groups of Vietnam to Singapore continued to increase strongly. Specifically, the shipments of machinery, equipment, mobile phones, components and spare parts expanded 18.54%; reactors, boilers, machine tools and spare parts 160%; and petroleum and petroleum products 962%.
Meanwhile, imports from Singapore to Vietnam fell sharply compared to the same period in 2023 in three important groups of machinery, equipment, mobile phones, components and spare parts (down 28.36%); reactors, boilers, machine tools and spare parts (3.29%); and petroleum and petroleum products (41.52%) .
In the nine months, Vietnam remained Singapore's 12th largest trading partner, with two-way trade reaching more than SGD23.2 billion (US$17.57 billion), up 6.83% year-on-year. Vietnam is Singapore's 10th largest export market and 18th biggest import partner.
