VIETNAM–SINGAPORE BILATERAL TRADE HITS RECORD HIGH

Employees work at a footwear factory in HCMC - PHOTO: VNA

HCMC – Bilateral trade between Vietnam and Singapore reached a record S$33 billion (around US$25.3 billion) in the first 10 months of this year, setting a new milestone for trade ties between the two nations.

Vietnam continued to hold its position as Singapore’s 10th largest trading partner. Data from the Singapore Enterprise Management Agency showed that two-way trade in this period surpassed last year’s full-year record of S$31.67 billion, marking a 26.7% increase compared to the same period in 2024.

Singapore’s exports to Vietnam reached S$22.7 billion, up 19.4%, while its imports from Vietnam jumped 46.4% to S$10.4 billion, according to Vietnam News Agency.

Domestic exports from Singapore to Vietnam accounted for S$6.1 billion, up 6.4%. In October alone, total trade between the two countries hit S$3.9 billion, a 36.8% increase from the same month last year. Singapore’s exports to Vietnam rose 8.2% to S$2.2 billion, while its imports from Vietnam surged 109.3% to S$1.7 billion.

Considering only products originating from Vietnam and Singapore, Vietnam maintained a trade surplus with Singapore of nearly S$4.22 billion.

Source: The Saigon Times