Processed pangasius for export. (Photo: Vũ Sinh/TTXVN)
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In the first nine months of 2025, Vietnam-Singapore trade relations continued to flourish, with both export and import values showing positive growth. Vietnam maintained its position as Singapore’s 10th largest trading partner.
According to statistics from Singapore’s Enterprise Management Agency, as reported by the Vietnam Trade Office in Singapore, in September 2025 alone, the total trade turnover between Singapore and Vietnam reached SGD 3.2 billion (approximately USD 2.47 billion), a 46.7% increase compared to the same period in 2024. Singapore’s exports to Vietnam totaled SGD 2.2 billion, up 45.3%, while imports from Vietnam reached SGD 1 billion, a 49.9% increase.
For the first nine months of the year, the total trade turnover between Singapore and Vietnam reached SGD 29.1 billion, a 25.5% increase year-on-year. Singapore’s exports to Vietnam were valued at SGD 20.5 billion, up 20.7%, while imports from Vietnam reached SGD 8.6 billion, a 38.3% increase.
Among Singapore’s exports, domestically produced goods to Vietnam were valued at SGD 5.6 billion, a 10.6% increase, while re-exports (transshipments) to Vietnam reached SGD 14.9 billion, up 25%.
Thus, considering only goods of Singaporean and Vietnamese origin, Vietnam recorded a trade surplus of nearly SGD 3.1 billion in the first nine months of 2025.
During this period, machinery, electrical equipment, and parts (HS 85), along with mineral fuels, mineral oils, distillation products, bituminous substances, and mineral waxes (HS 27), remained Singapore’s top two export categories to Vietnam. These two groups accounted for 68.4% of Singapore’s total export value to Vietnam, totaling SGD 14 billion.
Both categories experienced significant growth: HS 85 exports to Vietnam reached SGD 10.8 billion, a 28.4% increase compared to the same period in 2024, while HS 27 exports totaled SGD 3.2 billion, up 26.7%.
Despite their high shares, the export nature of these two categories differs significantly. While 97.2% of HS 85 exports are re-exports from third countries, HS 27 exports are primarily produced in Singapore, with 99% of their value originating domestically.
Other notable export categories in Singapore’s top 15 to Vietnam include nuclear reactors, boilers, machinery, mechanical appliances, and parts (HS 84) at SGD 1.6 billion; plastics and articles thereof (HS 39) at SGD 768.7 million; and essential oils, perfumes, cosmetics, and toilet preparations (HS 33) at SGD 438.6 million.
In terms of imports, HS 85 remained Singapore’s largest import category from Vietnam, totaling nearly SGD 4.4 billion, a 85.7% increase year-on-year, accounting for 50.2% of Singapore’s total imports from Vietnam.
The second and third largest import categories were HS 84, at SGD 2.1 billion (up 73.6%), and glass and glassware (HS 70), at nearly SGD 627 million (up 4.3%).
Most other categories in Singapore’s top 15 imports from Vietnam saw negative growth compared to 2024, except for fish and crustaceans, mollusks, and other aquatic invertebrates (HS 03), at SGD 88.6 million (up 14.5%); optical, photographic, cinematographic, measuring, checking, medical, or surgical instruments and apparatus (HS 90), at SGD 86 million (up 31.2%); and beverages, spirits, and vinegar (HS 22), at SGD 25.7 million (up 25.7%).
According to Cao Xuân Thắng, Vietnam’s Trade Counselor in Singapore, to sustain the growth of Vietnamese exports to Singapore, Vietnamese businesses should enhance trade promotion activities, participate in exhibitions, and increase their market presence. They should also focus on product design innovation, technology adoption, and equipment upgrades to ensure product quality, stabilize output, reduce costs, and enhance competitiveness in the international market.
Đỗ Vân
– 13:28 22/10/2025
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