In October 2025, the bilateral trade turnover between Vietnam and Singapore reached a total of SGD 33 billion, marking a 26.7% increase compared to the same period in 2024.
Singapore’s exports to Vietnam totaled SGD 22.7 billion, up by 19.4%, while its imports from Vietnam reached SGD 10.4 billion, surging by 46.4%.
Specifically, in October 2025, the total trade volume between Singapore and Vietnam hit SGD 3.9 billion, a 36.8% rise year-on-year. Singapore’s exports to Vietnam were SGD 2.2 billion, increasing by 8.2%, and imports from Vietnam reached SGD 1.7 billion, soaring by 109.3%. Among Singapore’s exports, domestically produced goods to Vietnam were valued at SGD 551 million, down 22.9%, while re-exports (transshipments) to Vietnam reached SGD 1.6 billion, up 25%.
Overall, Singapore maintains a trade surplus with Vietnam, recorded at SGD 12.3 billion. However, this surplus primarily consists of re-exports from third countries via Singapore to Vietnam, with SGD 16.5 billion in re-exports accounting for 72.98% of Singapore’s total exports to Vietnam (SGD 22.7 billion).
When considering only goods originating from Vietnam and Singapore, Vietnam enjoys a trade surplus of nearly SGD 4.22 billion with Singapore. According to Singapore’s Enterprise Management Authority, in the first 10 months of 2025, machinery, electrical equipment, and parts (HS 85) along with fuels, mineral oils, distilled products, bituminous substances, and mineral waxes (HS 27) remained the top two export categories from Singapore to Vietnam.
These two groups collectively accounted for SGD 15.4 billion, or 68.1% of Singapore’s total exports to Vietnam during this period. Both categories experienced significant growth: machinery, electrical equipment, and parts (HS 85) exports reached SGD 11.9 billion, up 28.8%, while fuels and related products (HS 27) reached SGD 3.5 billion, up 18.2%.
On the import side, Singapore’s Enterprise Management Authority reported that machinery, electrical equipment, and parts (HS 85) were also the highest-value imports from Vietnam, totaling SGD 5.4 billion, a 106.7% increase, and representing 51.9% of Singapore’s total imports from Vietnam.
The second and third largest import categories from Vietnam were nuclear reactors, boilers, machinery, mechanical appliances, and parts (HS 84), valued at SGD 2.4 billion (up 64.2%), and glass and glassware (HS 70), valued at SGD 712.8 million (up 5.5%).
On October 30, 2025, Vietnam and Singapore signed a rice trade agreement, marking a new milestone in deepening economic cooperation within their Comprehensive Strategic Partnership. This agreement strengthens political trust and fosters business collaboration between the two nations.
The 10-month trade turnover of over SGD 33 billion sets a new record in Vietnam-Singapore bilateral trade, surpassing the previous full-year record of SGD 31.67 billion in 2024.
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