AsemconnectVietnam - According to the preliminary statistics figures of the General Department of Vietnam Customs, the export turnover of goods to Singapore market in May of 2023 reached 364.9 million USD, up by 16.8% compared to the previous month.

In the first 5 months of 2023, the country’s exports to Singapore reached 1.6 billion USD, down by 11.4% over the same period last year.
In the first 5 months of 2023, the exports of machinery, equipment and tools reached 329.8 million USD, up by 18% over the same period last year and accounting for 19.5% of the proportion. The next was the group of computers, electronic products and components with 284.6 million USD, down by 40.2%, accounting for 16.8% of the export proportion.
Some items with export value increased significantly in the first 5 months of 2023 compared to the same period last year, such as means of transport and spare parts increased by 24.8%; footwear of all kinds increased by 24.1%; iron and steel products increased by 68.3%; other common metals and products increased by 85.2%.
Singapore is one of the most dynamic developed economies in the Asia-Pacific region, playing an important role in trade cooperation with Vietnam. Singapore's demand for finding and expanding the supply of raw materials to replace the Chinese market is huge. Vietnam is one of the key markets to help Singapore make up for the shortage of goods, especially agricultural, aquatic, food and construction products.
CK
Source: VITIC