According to data from the Accounting and Corporate Regulatory Authority (ACRA) of Singapore, the country’s total trade value with the world reached SGD 108.9 billion in August 2025, up 3% year-on-year. Exports were SGD 56.9 billion (+2%) while imports totaled SGD 52 billion (+4.1%).
Domestic exports were valued at SGD 21.5 billion, down 10.4%, while re-exports (transshipment goods) surged to SGD 35.4 billion, up 11.4%.
Cumulative 8-Month Performance
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From January to August 2025, Singapore’s total trade volume reached SGD 898.1 billion, an increase of 5.9%compared to the same period in 2024. Exports stood at SGD 476.7 billion (+7%), and imports were SGD 421.4 billion(+4.6%).
Domestic exports reached SGD 186.2 billion (down 4.7%), while re-exports grew strongly to SGD 290.5 billion(+16.1%).
Key Trading Partners
Among Singapore’s top 15 trading partners, most maintained positive growth.
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Taiwan remained the largest trading partner with SGD 106.9 billion (+44.1%).
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China ranked second with SGD 104.5 billion (−6.3%).
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Malaysia followed at SGD 95.6 billion (+3.8%),
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The United States reached SGD 91.1 billion (+4.9%), and
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Hong Kong at SGD 54.3 billion (+7.6%).
Vietnam ranked 10th among Singapore’s trading partners with a total bilateral trade value of SGD 25.9 billion, up 23.3% year-on-year. Singapore’s exports to Vietnam reached SGD 18.3 billion (+18.4%), while imports from Vietnam totaled SGD 7.6 billion (+36.9%).
Singapore recorded a trade surplus of SGD 10.6 billion with Vietnam, up 7.9% from the same period last year. However, when excluding re-exported goods, Vietnam posted a surplus of SGD 2.56 billion in direct bilateral trade.
August Trade with Vietnam
In August 2025 alone, bilateral trade between Singapore and Vietnam was SGD 2.9 billion, up 6.5% from August 2024.
Exports from Singapore to Vietnam totaled SGD 1.9 billion (+4.7%), while imports from Vietnam reached SGD 965.5 million (+10.2%).
Singapore’s domestic exports to Vietnam were SGD 475 million (−20.9%), while re-exports rose to SGD 1.5 billion(+16.9%).
Top Export Categories to Vietnam
The two leading export groups from Singapore to Vietnam in the first eight months of 2025 were:
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Electrical machinery and equipment (HS 85) – SGD 9.6 billion, up 24.2%, accounting for 52.5% of total exports to Vietnam.
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Mineral fuels, petroleum products, bituminous substances, and mineral waxes (HS 27) – SGD 3 billion, up 22.9%, accounting for 16.3% of exports.
Together, these two categories made up nearly 69% of Singapore’s total exports to Vietnam.
While HS 85 exports were mainly re-exported goods (97.2%), HS 27 exports were locally produced in Singapore, with 99% domestic value.
Other notable export groups included:
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Nuclear reactors, boilers, and mechanical machinery (HS 84) – SGD 1.4 billion (+45.2%),
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Plastics and plastic articles (HS 39) – SGD 684.9 million (−2.2%),
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Essential oils, perfumes, and cosmetics (HS 33) – SGD 389.9 million (−12.6%).
Top Imports from Vietnam
Singapore’s imports from Vietnam were led by:
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Electrical machinery and equipment (HS 85) – SGD 3.9 billion, up 86.4%, accounting for 50.8% of total imports.
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Mechanical machinery (HS 84) – SGD 1.7 billion, up 69.1%.
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Glass and glassware (HS 70) – SGD 569.8 million, up 8.2%.
Other growing import groups included:
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Fish and crustaceans (HS 03) – SGD 77.1 million (+11.3%),
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Optical and precision instruments (HS 90) – SGD 77.1 million (+32.4%), and
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Pearls, precious stones, and jewelry (HS 71) – SGD 31.8 million (+157.8%).
Economic Outlook
As of mid-September 2025, Singapore’s Ministry of Trade and Industry (MTI) maintains its GDP growth forecast at 1.5%–2.5%. Key growth sectors include wholesale trade, manufacturing, finance and insurance, and logistics.
However, MTI warns of continued global uncertainties—slowing growth in major economies (U.S., EU, China), weaker global demand, and volatility in energy and financial markets.
While manufacturing and trade may decelerate, aerospace maintenance and semiconductor precision engineeringshow promise. The finance, retail, and F&B sectors remain under pressure.
Bilateral Outlook with Vietnam
Trade relations between Singapore and Vietnam continue to strengthen, with positive growth in both exports and imports. Vietnam maintains its 10th position among Singapore’s trading partners.
Both sides are expected to explore deeper cooperation in digital trade, logistics, renewable energy, and supply chain diversification, though challenges remain due to global economic tensions and shifting trade policies.