According to Enterprise Singapore (ESG), trade between Vietnam and Singapore continued its strong growth momentum in early 2025, increasing by 27.15% compared to the same period last year. In the first two months of this year, January and February, the trade volume between the two countries exceeded 6.57 billion Singapore dollars (approximately 4.91 billion US dollars), solidifying Vietnam's position as Singapore's 9th major trading partner.
Vietnam ranked 14th among Singapore's export countries, with exports to Singapore exceeding 1.54 billion Singapore dollars in January and February, an increase of 23.21%. Meanwhile, Vietnam ranked 7th among Singapore's import countries, with imports approaching 5.06 billion Singapore dollars during this period, an increase of 28.38%.
In February alone, the trade volume between the two countries reached 3.18 billion Singapore dollars, a sharp increase of 40.41% compared to the same period in 2024. Vietnam's exports to Singapore increased by 31.01% to 721.37 million Singapore dollars, and imports surged by 43.43% to 2.46 billion Singapore dollars.
Vietnam's export structure continues to diversify, with glass products in particular surging by 87.27% in February. In addition, high growth rates were recorded in various items such as reactors, boilers, industrial machinery and machinery parts (up 68.83%), machinery, mobile phones, electronic components and spare parts (up 65.25%), optical equipment, measuring instruments, medical equipment, watches, musical instruments and parts (up 89.64%), and alcoholic beverages (up 84.32%). On the other hand, oil and petroleum products decreased by 90.82%, and tobacco products also decreased by 23.79%.
Vietnam's main import items from Singapore in February also increased significantly. Mobile phones, electronic components and spare parts increased by 44.58%, and oil and petroleum products increased by 24.73%. Industrial boilers, reactors, machine tools and machine parts surged by 142.75%. In particular, some items showed remarkable growth, with lead products increasing 34 times and pharmaceuticals increasing 2.3 times. On the other hand, pearls, jewelry and jewelry products decreased by 52.48%, and watches and parts decreased by 42.29%.
Cao Xuan Tang, Vietnam's trade representative in Singapore, emphasized continued support for Vietnamese companies seeking to expand into the Singapore market. He said that efforts to promote Vietnamese brands through market information provision, trade connection promotion, trade fairs and business networking events will be strengthened. In addition, plans to further strengthen initiatives to attract Singapore investment to Vietnam's industrial, commercial and service sectors.
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