Vietnam-Singapore Trade: A Flourishing Partnership
The economic partnership between Vietnam and Singapore has reached new heights, solidifying Vietnam’s position as Singapore’s 10th largest trading partner. In 2025, bilateral trade hit an impressive record of nearly 40 billion SGD, marking a significant increase of 26.2% from the previous peak of 31.67 billion SGD in 2024. This growth demonstrates the depth and resilience of their economic cooperation.
Record-Breaking Monthly Trade
Particularly impressive were the trade statistics from December 2025. The total trade between Singapore and Vietnam surged to nearly 4 billion SGD (over 3.1 billion USD), reflecting a year-on-year increase of 30.1%. Specifically, Singapore’s shipments to Vietnam were valued at 2.3 billion SGD, a modest rise of 1.5%. Conversely, imports from Vietnam saw an astonishing increase, leaping to 1.7 billion SGD—a staggering growth of 113.6% compared to the previous year.
October and December Highlights
The months of October and December were particularly noteworthy, as they showed remarkable spikes in imports from Vietnam: 109.3% and 113.6% increases, respectively, compared to the same months in 2024. Such substantial growth rates indicate a strong demand for Vietnamese goods in the Singaporean market, showcasing the vibrancy of trade between the two countries.
Trade Breakdown
Vietnam’s retention as Singapore’s 10th largest trading partner encapsulates a comprehensive trade relationship where Singapore’s exports to Vietnam amounted to 26.8 billion SGD, up by 16.1%. Meanwhile, imports from Vietnam climbed considerably to 13.1 billion SGD, illustrating an impressive increase of 53.2%. Notably, when accounting only for goods of Singaporean and Vietnamese origin, Vietnam recorded a trade surplus of over 5.8 billion SGD, further highlighting the robust trade dynamics at play.
Major Export Categories
In terms of categories, machinery and electrical equipment continued to dominate Singapore’s exports to Vietnam, alongside fuels and mineral oils. Together, these categories reached 18.1 billion SGD, constituting 67.6% of Singapore’s total exports to Vietnam. This reflects Singapore’s strong manufacturing capabilities and the growing demand for such products in the Vietnamese market.
Vietnamese Imports to Singapore
On the flip side, machinery and electrical equipment also comprised the largest import category from Vietnam to Singapore, valued at over 6.7 billion SGD. This figure represents a notable year-on-year increase of 112%, accounting for 51.2% of Singapore’s total imports from Vietnam. Moreover, consistent growth across various manufacturing segments, including machinery and glass products, further underscores the expanding trade relationship.
Government and Industry Support
Cao Xuan Thang, Trade Counsellor of Vietnam in Singapore, attributes these strong trade results to various factors. Sustained trade promotion efforts, the effective implementation of free trade agreements, and close cooperation among ministries, sectors, and local businesses have all played essential roles. The trade office has been particularly influential in facilitating trade and enhancing connectivity between businesses in both countries.
Future Prospects
As both nations continue to strengthen their economic ties, the outlook for greater trade collaboration looks promising. The ongoing support from government entities and the business community signals a commitment to capitalizing on existing opportunities. Through strategic partnerships and innovative solutions, Vietnam and Singapore are set to navigate future challenges together while leveraging their competitive advantages.
The increasing ratio of imports and exports between the two countries paints a picture of a vibrant and evolving economic partnership, set against the backdrop of a dynamic Southeast Asian landscape.