Vietnam remains the 11th largest trading parter of Singapore

Vietnam remains the 11th largest trading partner of Singapore, with bilateral trade reaching SGD28.6 billion ($21.03 billion) in the first 11 months of the year, increasing 8.53% year-on-year, according to the Vietnam Trade Office in Singapore.

The country ranks 18th among Singapore's largest import partners,  in the period, with turnover standing at SGD7.8 billion ($5.74 billion), up 32.11%, year-on-year.

Meanwhile, Vietnam is the 10th largest export market of Singapore, with revenue exceeding SGD20.8 billion ($14.7 billion), soaring 1.72%, year-on-year.

In November alone, the two-way trade turnover exceeded SGD2.52 billion ($1.85 billion), including SGD717.27 million ($527.8 million) in Vietnam's exports, up 31.32% year-on-year.

The month also saw Vietnam's major export items to Singapore experience substantial growth. Machinery, equipment, mobile phones, and various parts and components posted a 52.57% increase. Even more impressive, reactors, boilers, machine tools, and spare parts saw a 95.93% surge, while glass and glass products grew by 77.98%. Other sectors such as toys, game devices, and sporting goods and equipment skyrocketed by over 138%, and aluminum and its products jumped by more than 89.79%.