Singapore’s exports to Vietnam reached 16.3 billion SGD (up 20.2%), while imports from Vietnam hit 6.7 billion SGD, surging by 43% compared to the same period last year.
Pasir Panjang cargo port in Singapore. (Photo: VNA)
Singapore (VNA) – 🐎Vietnam remained Singapore’s 10th largest trading partner in the first seven months of 2025, with two-way trade totaling 23.1 billion SGD (17.97 billion USD), up 26.1% year-on-year.
Singapore’s exports to Vietnam reached 16.3 billion SGD (up 20.2%), while imports from Vietnam hit 6.7 billion SGD, surging by 43% compared to the same period last year.
In July alone, Singapore’s trade with Vietnam reached 3.6 billion SGD (USD 2.8 billion), up 14.6% from the same period last year. Of the total, Singapore’s exports to Vietnam stood at 2.4 billion SGD, unchanged from a year earlier, while imports from Vietnam surged 58.1% to 1.2 billion SGD.
According to Singapore’s data, the country enjoyed a trade surplus of 9.6 billion SGD with Vietnam in the last seven months, up 8.2% from last year. However, considering only goods of Singaporean and Vietnamese origin, Vietnam posted a trade surplus of 2.12 billion SGD with Singapore in this period.
Statistics show that in this reviewed period, machinery, electrical equipment and parts (HS 85) remained Singapore’s top imports from Vietnam, reaching 3.4 billion SGD, up 88.5% year-on-year and accounting for 50.5% of total imports from Vietnam. Ranked second and third were nuclear reactors, boilers, machinery and mechanical parts (HS 84) at 1.5 billion SGD (up 85.6%), and glass and glassware (HS 70) at 494.3 million SGD (up 11.8%).
Aside from the above-mentioned categories, most of Singapore’s other top 15 import groups from Vietnam recorded negative growth year-on-year.
According to Vietnamese Trade Counselor in Singapore Cao Xuan Thang, the fact that most bilateral trade is concentrated in technology and fuel reflects the unique trade structure of the two economies. He said this forms a foundation for businesses to tap new cooperation opportunities in areas of shared interest, such as supply – production chain linkages, and new trade platforms and logistics development./.
The new line serves as a critical backup route, strategically complementing existing submarine cables and enhancing the resilience, proactivity, and security of Vietnam’s telecommunications infrastructure.
Bilateral trade reached 19.5 billion SGD (15.3 billlion USD) in the first six months, up 28.5% year-on-year, positioning Vietnam as the city state’s 10th largest trading partner.
Defence Minister Phan Van Giang suggested both sides continue comprehensive and practical cooperation in such areas as mutual visits at all levels, maintenance of effective consultation and dialogue mechanisms, personnel training, military medicine, professional experience sharing, and exchanges among young officers.
All businesses are eligible to participate in the programme without undergoing any selection or review process. Enterprises can independently launch promotional campaigns with diverse and appealing content for customers and are allowed to apply maximum discounts of up to 100%.
Singapore’s United Overseas Bank (UOB) has boosted its 2025 GDP growth forecast for Vietnam to 7.5% from 6.9%, pointing to the economy’s resilience and dynamism despite tariff risks and uncertainties.
Spanning 8.4ha of gross floor area and rising to 30m, the package requires advanced steel–concrete solutions, synchronised execution and accelerated progress within 330 days.
Through this partnership, VinFast Philippines, a subsidiary of Vingroup JSC, one of Vietnam's largest conglomerates, will leverage on BDO's comprehensive suite of financial solutions including cash management, consumer banking, leasing, and insurance services and create tailored financing programmes for both retail and corporate customers.
Under the new system, passengers without checked luggage simply check in via VNeID or a kiosk, undergo facial recognition at security, and board by scanning their face. Those with baggage drop it at a counter before entering the same automated flow.
Vietnam values its international partnerships, including with the UK, Finance Minister Nguyen Van Thang noted, urging UK companies, funds and financial institutions, and those from Europe and worldwide, to continue expanding investment, transferring know-how, sharing management experience and advancing green finance and technology to realise Vietnam’s sustainable development vision.
Vietnamese Minister of Finance Nguyen Van Thang expressed gratitude for the UK’s active role in supporting Vietnam’s efforts to draft a National Assembly resolution on creating an international financial centre. The City of London, he noted, provided pivotal insights and recommendations to shape the groundwork and development roadmap for this hub.
Vietnam is ready to deepen economic cooperation with the Association of Southeast Asian Nations (ASEAN), China and other partners, embracing a strategy of “harmonised interests and shared risks” as it leverages its fast-growing economy and market of over 100 million people.
Tay Ninh, Nghe An and Quang Tri provinces have strategic locations and significant cooperation potential, said Nguyen Thi Thai Binh, Minister-Counsellor at the Vietnamese Embassy, expressing confidence that with creativity and determination, these provinces and their Korean partners will find ample opportunities for productive collaboration.
Jointly organised by the Vinexad National Trade Fair and Advertising JSC and Yorkers Exhibition Service Vietnam, the event features 1,200 booths of more than 650 exhibitors from 20 countries and territories, including Germany, India, Indonesia, Italy, Japan, the Republic of Korea, Singapore, Switzerland, Thailand, and the US.
Public investment should serve as a key driver of growth, acting as seed capital to catalyse and mobilise all social resources, thereby fostering economic expansion, creating jobs and livelihoods, and improving the material and spiritual well-being of the people, PM Pham Minh Chinh stated.
An official of the Foreign Trade Agency laid stress on the foundational role of rules of origin in international trade, highlighting the importance of capacity building for enforcement officers in the context of deep international integration.
Against the backdrop of the growing comprehensive strategic partnership between Vietnam and Russia, the promotion and export of Vietnam’s agricultural products not only diversify supply sources for the Russian market but also help enhance the brand values and competitiveness of Vietnamese enterprises in the market that remains untapped.
International trade is no longer merely an exchange of goods but a strategic lever enabling Vietnamese enterprises to enhance capacity, secure partnerships, and expand globally.
In the first eight months of 2025, Vietnam’s total trade value reached nearly 600 billion USD, up 16.3% year on year. Of this, exports stood at 306 billion USD, a 14.8% increase, already surpassing the full-year target.
Vietnam aims to maintain macroeconomic stability, control inflation below the target, achieve growth of 8.3-8.5%, ensure major economic balances, surpass budget revenue estimates by 25%, and control public debt, government debt, foreign debt, and budget deficit.
Reaffirming Vietnam’s commitment to foreign investors, Finance Minister Nguyen Van Thang said government policies always aim to ensure transparency, fairness and a mutually beneficial environment that promotes innovation and safeguards investor rights, making Vietnam a sustainable and long-term investment destination.
The State Bank of Vietnam must launch an official gold price information portal, study the establishment of gold exchanges, and issue guiding documents to implement the Government’s decree on the management of gold trading activities.
According to the World Bank Group, Vietnam will need approximately 368 billion USD in investment for climate adaptation and carbon reduction projects by 2040. Yet, as of the end of 2024, green credit accounted for just 4.5% of the country’s total outstanding loans.
