Vietnam climbs to 9th largest trade partner of Singapore

Statistics from the Singapore Enterprise Management Authority show that in January 2025, Vietnam has risen to become Singapore's 9th largest trading partner, with two-way trade reaching over SGD 3.39 billion ($2.538 billion), an increase of 16.83% compared to the same period in 2024, according to the Vietnam Trade Office in Singapore.

Specifically, exports from Vietnam to Singapore reached SGD794 million (nearly $595 million), an increase of 16.97%, while imports from Singapore to Vietnam were approximately SGD2.6 billion ($1.94 billion), an increase of 16.79%.

Thus, Vietnam currently ranks 15th out of Singapore's 20 largest import partners and is Singapore's 8th largest export market.

In the structure of goods exported from Singapore to Vietnam, goods originating from Singapore reached SGD759.19 million (over $568 million), an increase of 47.89%, while goods from third countries passing through Singapore to Vietnam accounted for SGD1.84 billion (nearly $1.38 billion) or 71%, an increase of 7.46%.

Considering only the trade balance between Vietnamese goods and goods originating from Singapore, Vietnam has a trade surplus of approximately SGD34.8 million (over $26 million).

Regarding the commodity groups exported from Vietnam to Singapore in January, all three key export groups  saw significant increases: Machinery, equipment, mobile phones, components, and accessories of all kinds (up 46.02%); Reactors, boilers, machinery and mechanical appliances and parts thereof (47%); and Glass and glassware (58.91%).