In July 2025, the total import-export turnover between Singapore and Vietnam reached 3.6 billion SGD, up 14.6% compared to the same period in 2024.
Vietnam is Singapore’s 10th largest trading partner.
According to the Vietnam Trade Office in Singapore, Singapore’s exports to Vietnam stood at 2.4 billion SGD, almost unchanged, while imports from Vietnam reached 1.2 billion SGD, up 58.1%.
In Singapore’s exports, the value of domestically manufactured products exported to Vietnam was 708.1 million SGD, up 20.3%, while the value of re-exports (transshipments) to Vietnam reached 1.7 billion SGD, down 5.9%.
In the first seven months of 2025, Vietnam continued to rank as Singapore’s 10th largest trading partner, with total bilateral trade reaching 23.1 billion SGD, an increase of 26.1% compared to the same period in 2024. Of this, exports to Vietnam amounted to 16.3 billion SGD (up 20.2%), and imports from Vietnam reached 6.7 billion SGD (up 43%).
During this period, Singapore remained a net exporter to Vietnam, with a trade surplus of 9.6 billion SGD, up 8.2% year-on-year.
The two leading export categories from Singapore to Vietnam during the first seven months of 2025 were:
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Machinery, electrical equipment, and parts (HS 85)
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Fuels, mineral oils, and products of their distillation; bituminous substances; mineral waxes (HS 27)
The combined value of these two categories was 9.5 billion SGD, accounting for 68.3% of Singapore’s total exports to Vietnam.
Both categories showed strong growth:
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HS 85 reached 8.5 billion SGD, up 23.9% year-on-year.
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HS 27 reached 2.7 billion SGD, up 28.1%.
However, the nature of exports in these categories differs significantly. While 97.2% of machinery and electrical equipment (HS 85) were re-exports from third countries, nearly 99% of fuels and petroleum products (HS 27) were domestically produced in Singapore.
Beyond these, other notable export categories in Singapore’s “Top 15” to Vietnam included:
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Nuclear reactors, boilers, machinery, mechanical appliances, and parts (HS 84): 1.2 billion SGD, up 48.8%.
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Plastics and plastic articles (HS 39): 613.6 million SGD, nearly unchanged.
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Essential oils, perfumes, cosmetics, and toiletry preparations (HS 33): 344.6 million SGD, down 11.6%.
On the import side, data from the Accounting and Corporate Regulatory Authority of Singapore indicated that in the first seven months of 2025, the leading import category from Vietnam was again machinery, electrical equipment, and parts (HS 85), valued at 3.4 billion SGD, up 88.5%, and accounting for 50.5% of Singapore’s total imports from Vietnam.
The second and third largest import groups were:
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HS 84 (machinery, boilers, mechanical appliances, and parts): 1.5 billion SGD, up 85.6%.
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HS 70 (glass and glassware): 494.3 million SGD, up 11.8%.
Most of the remaining categories in Singapore’s “Top 15” imports from Vietnam recorded negative growth compared to the same period in 2024.
According to Mr. Cao Xuan Thang, Vietnam’s Trade Counsellor in Singapore, the bilateral trade relationship between Vietnam and Singapore continued to flourish in the first half of 2025, with both exports and imports growing strongly.
“The fact that the majority of bilateral trade between Singapore and Vietnam is concentrated in technology-related goods and fuels reflects the unique trade structure of the two economies. This foundation creates opportunities for businesses to explore new areas of cooperation aligned with regional investment and business trends, such as linking production–supply chains, developing new trade platforms, and enhancing logistics,” said Mr. Thang.
