In the first quarter of 2026, Vietnam–Singapore trade sustained strong growth, with key product groups posting positive two-way expansion, reflecting their deeper integration into global value chains and increasingly aligned cooperation between the two economies amid ongoing global volatility.
Vietnam remained Singapore’s 10th largest trading partner during the period. The country was also a major trading source for Singapore across three key categories: electrical machinery and equipment and parts (HS85); mineral fuels, oil and related products (HS27); and nuclear reactors, boilers, machinery and mechanical appliances (HS84).
All three groups recorded positive growth in both exports and imports. Specifically, HS85 exports from Singapore to Vietnam rose 9.4 percent, while Singapore’s imports from Vietnam surged 147 percent. HS27 exports grew 15.5 percent and 380.9 percent, respectively, while HS84 products increased 24.7 percent and 245.5 percent.
These trends align with Singapore’s broader trade performance and the shared trade objectives of both countries. A recent report by Singapore’s Ministry of Trade and Industry showed that non-oil domestic exports (NODX) and re-exports (NORX) rose 15.3 percent and 61.4 percent, respectively, in March 2026, extending quarterly gains.
This underscores Singapore’s deepening participation in global value chains, particularly by capitalising on rising global demand for electronic components used in artificial intelligence technologies. Meanwhile, the increase in petrol-related trade values likely reflects higher global oil prices.
Data from Enterprise Singapore indicated that bilateral trade reached SGD13.6 billion (US$10.6 billion) in Q1, up 38.3 percent year-on-year. Singapore’s exports to Vietnam rose 6.5 percent to SGD7.7 billion (US$6.03 billion), while imports from Vietnam jumped 128.7 percent to SGD5.8 billion, a strong signal of Vietnam’s rapidly growing export momentum in the Singapore market.
