Vietnam's exports to Singapore maintain high growth

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.