Last month, Vietnam's exports to Singapore surged by 58.4 percent, reaching SGD876.3 million (US$678.6 million), driven by the strong performance of the electronics, machinery, and equipment sectors. This growth made Vietnam Singapore's 18th largest export partner.
Among the key exports, machinery, phones, and parts grew 21.39 percent, while reactors, boilers, and machinery surged 150 percent, and petroleum products soared 870 percent.
Meanwhile, imports from Singapore to Vietnam dropped by 9.49 percent to SGD1.86 billion, while goods from third countries through Singapore to Vietnam decreased by 18.87 percent to SGD1.26 billion.
In total, bilateral trade between Vietnam and Singapore in August reached nearly SGD2.74 billion, an increase of 4.89 percent year-on-year.
For the first eight months of 2024, total trade exceeded SGD21 billion, up 8.47 percent, retaining Vietnam as Singapore’s 12th largest trade partner.
