Vietnam, Singapore trade grows 20 percent
Vietnam-Singapore trade hit USD15.6 billion (SGD20.4 billion) in 2014, a 20.3 percent surge from 2013, according to the Singapore Department of Statistics.
Vietnam shipped its partner around USD3.1 billion (SGD4.05 billion) worth of commodities, up 22.4 percent. Primary exports include telephones and electronics goods and components, which brought home USD987 million (SGD1.32 billion) last year. Other key export products include minerals, coffee, tea, footwear, machines and crude oil.
Footwear manufacturing for export to Singapore (Photo: VNA)
Singapore’s export to Vietnam also rose significantly, up 20.1 percent to USD12.75 billion (SGD16.34 billion) last year. Domestic products comprised USD5.46 billion (SGD7.3 billion), up 18.7 percent, with the remaining exports consisting of the sale of re-exports, up 21.2 percent.
Singapore mainly ships telephones, electronics goods and components, petroleum, plastic and plastic products, books, and photos to Vietnam./.