Viet Nam-Singapore trade up over 4% in first quarter

During January-March period, Viet Nam-Singapore trade surpassed SGD7.71 billion, up 4.21 percent from the same period last year, reported the Trade Office of Viet Nam in the island nation.

Of the above figure, Viet Nam's export turnover stood at over SGD1.83 billion while its import value reached nearly SGD5.89 billion, up 15.22 percent and 1.2 percent respectively.

Nachinery and equipment, mobile phones and components, and spare parts were Viet Nam's top exports, posting the growth rate of 25.14 percent.

With this result, Viet Nam remains the 10th largest trading partner of Singapore, the Trade Office said.

Meanwhile, Singapore is currently Viet Nam's fourth largest trading partner within ASEAN, with Bilateral trade reached US$9.1 billion in 2023, and its second largest foreign investor. 

To promote exports to Singapore, the office said it will continue to update the policies and import-export situation of the island nation, facilitate trade connections between companies of both countries as well as assist Singaporean firms in exploring sources of goods and investing in Viet Nam.

Viet Nam emerges as fifth largest seafood exporter to Singapore

Viet Nam has become the fifth largest supplier of aquatic products to Singapore for the first time among the top 15 seafood exporters to this market, according to the office.

Export turnover of Vietnamese seafood to this market during the three-month period surged by 3.22 percent to reach more than US$17.6 million on-year, the office reported.

VGP