Vietnam Achieves Highest Export Growth to Singapore in 11 Months

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(Photo: VOV)

Cao Xuan Thang, trade counselor and head of the Vietnam Trade Office in Singapore, announced that Vietnam ranked 11th among Singapore's trade partners, with a total bilateral trade turnover exceeding US$21 billion, an 8.53% year-on-year increase.

Of this total, Vietnamese exports rose by 32.11% to nearly US$5.75 billion, while imports increased by 1.72% to more than US$15.3 billion.

According to the Trade Office, Vietnam's top three export commodity groups to Singapore saw significant growth during the reviewed period. The strongest increase was in the category of toys, games, and sports equipment, which grew by over 138%. This was followed by reactors, boilers, machine tools, and spare parts at 95.93%, and aluminum products at 89.79%.

As global and regional economies are expected to face numerous challenges next year, the Vietnamese Trade Office in Singapore will continue to support Vietnamese enterprises in strengthening trade connectivity and developing brands to establish a firm presence in Singapore, said Cao Xuan Thang.

Additionally, he stated, the Trade Office will encourage Singaporean delegations to visit Vietnam to seek new supply sources, expand markets, and promote investment in the fields of industry, trade, and services in the Vietnamese market.

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