Vietnam ranked as Singapore’s 8th largest export destination during the first five months of 2025, up four positions compared to the same period last year, according to the Ministry of Industry and Trade of Vietnam.
Citing data from Enterprise Singapore, the ministry reported that total trade between the two countries reached over SGD 16.23 billion (approximately USD 12.58 billion) in the five-month period, an increase of 28.07 per cent year-on-year.
Singapore’s exports to Vietnam totalled more than SGD 11.7 billion (approximately USD 9.06 billion), while Vietnam’s exports to Singapore grew by 37.7 per cent to nearly SGD 4.53 billion (approximately USD 3.51 billion).
In May 2025 alone, bilateral trade amounted to over SGD 3.16 billion (approximately USD 2.45 billion), up 27.76 per cent from May 2024. Vietnam’s exports reached SGD 869.3 million (approximately USD 673 million), marking a 27.1 per cent increase, while imports from Singapore rose by 28.02 per cent to nearly SGD 2.3 billion (approximately USD 1.78 billion).
Machinery, equipment, mobile phones, components and spare parts accounted for over 94.4 per cent of Vietnam’s exports to Singapore in May. Other key categories such as reactors, boilers and machine tools saw marginal growth or slight declines, while glass and glass products dropped.
Several export sectors posted robust growth, including alcohol and beverages (up 104.48 per cent), optical instruments, medical devices, watches and musical instruments (up 52.58 per cent), and plastics and plastic products (up 48.43 per cent).
Conversely, some categories declined sharply, including salt, sulphur, stone, plaster and cement (down 25.29 per cent) and aquatic products (down 17.85 per cent).
On the import side, Vietnam saw significant increases in machinery, mobile phones, components and spare parts (up 61.28 per cent), as well as reactors, boilers and related equipment (up 92.44 per cent). However, imports of gasoline and petroleum products declined by 12.28 per cent.