COUNTRY'S NEWS

Vietnam’s Export to Singapore Rises 40.1% in the First Half of 2025

Posted on by content02.vinahugo
06
Oct

Vietnam’s trade relations with Singapore continue to strengthen in 2025. According to data from the Accounting and Corporate Regulatory Authority of Singapore (ACRA), Vietnam’s exports to Singapore grew by 40.1% year-on-yearin the first half of 2025 — reflecting the deepening economic cooperation and growing regional integration between the two ASEAN economies.

In June 2025 alone, Singapore’s total trade value reached SGD 106.3 billion, up 5.4% compared to the same period in 2024. Exports rose by 10.5%, while imports remained stable at SGD 48.9 billion.

 Vietnam – Singapore Bilateral Trade Performance

During the first six months of 2025, the total bilateral trade turnover between Vietnam and Singapore hit SGD 19.5 billion, marking a strong increase of 28.5% year-on-year.

  • Singapore’s exports to Vietnam: SGD 13.9 billion (+24.4%)

  • Imports from Vietnam: SGD 5.5 billion (+40.1%)

  • Trade surplus in favor of Singapore: SGD 8.4 billion, up 15.9%

However, if only considering the origin of goods, Vietnam achieved a trade surplus of over SGD 1.6 billion against Singapore.

Key Export and Import Categories

Singapore’s Major Exports to Vietnam

Singapore’s leading export categories to Vietnam in the first half of 2025 include:

  1. Electrical machinery and equipment (HS 85) – SGD 7.2 billion (+30.1%)

  2. Mineral fuels and oils (HS 27) – SGD 2.3 billion (+24.7%)

  3. Machinery and mechanical appliances (HS 84) – SGD 1.1 billion (+65.1%)

  4. Plastics and articles thereof (HS 39) – SGD 535.4 million (+6%)

  5. Perfumes, cosmetics, and toiletries (HS 33) – SGD 296.5 million (-10.7%)

These five groups account for more than 80% of Singapore’s total exports to Vietnam.

Singapore’s Imports from Vietnam

Vietnam’s export structure to Singapore also diversified, with several categories showing strong growth:

  1. Electrical machinery and equipment (HS 85) – SGD 2.7 billion (+80.7%)

  2. Machinery and mechanical appliances (HS 84) – SGD 1.2 billion (+80.9%)

  3. Glass and glassware (HS 70) – SGD 430.5 million (+16.8%)

  4. Optical, photographic, and medical instruments (HS 90) – SGD 59.5 million (+69.6%)

  5. Seafood (HS 03) – SGD 57.2 million (+10.8%)

Singapore’s Economic Outlook

Singapore’s GDP grew 4.3% year-on-year in Q2 2025, slightly higher than the 4.1% recorded in Q1.
Key sectors contributing to this growth include:

  • Manufacturing: +5.5% (driven by electronics recovery)

  • Construction: +4.9% (boosted by public infrastructure projects)

  • Wholesale, retail, logistics: +4.8%

  • ICT, finance, and insurance: +3.8%

  • Hospitality and real estate: +3.4%

However, the government warns of potential headwinds in the second half of the year due to uncertainty surrounding new U.S. tariff policies.

Strengthening Bilateral Cooperation

According to Mr. Cao Xuan Thang, Commercial Counselor of Vietnam in Singapore, the trade relationship between the two countries has entered a new phase of strategic depth, characterized by rapid trade expansion and stronger industrial collaboration.

The Vietnam Trade Office in Singapore will continue to:

  • Support Vietnamese enterprises in market access and brand promotion

  • Facilitate B2B trade connections and investment opportunities

  • Organize exhibitions and business forums to increase product visibility

  • Assist Singaporean delegations in exploring industrial and commercial projects in Vietnam

Mr. Thang emphasized that Vietnamese businesses should focus on:

  • Maintaining product quality and standards

  • Upgrading packaging and technology to reduce costs

  • Strengthening competitiveness and brand presence in Singapore and beyond