Singapore – biggest trade partner of Vietnam in ASEAN
Friday, August 11,2017AsemconnectVietnam - Singapore ranks third in the list of 98 countries and territories invested in Vietnam in the first seven months of 2017.
Singapore is now the biggest trade partner of Vietnam in ASEAN and the sixth biggest trade partner in the world.
The bilateral trade exchange between Vietnam and Singapore totaled $ 7.1 billion in 2016 and $ 4.3 billion in the first six months of this year. Of the figure, the country exported $ 1.5 billion worth of goods to and imported $ 2.8 billion worth of goods from Singapore.
In the first half of this year, the country’s imports of goods from Singapore increased by 10.58 per cent year – on – year.
Petroleum was leading the list of items imported by the country from Singapore in the period with the import value of $ 1.3 billion, up by 43.77 per cent year – on – year and accounted for 46 per cent of the total.
Petroleum was leading the list of items imported by the country from Singapore in the period with the import value of $ 1.3 billion, up by 43.77 per cent year – on – year and accounted for 46 per cent of the total.
The imports of computers, electronics and components; machines, equipment and spare parts fell 40.06 per cent and 16.71 per cent year – on – year.
Especially, the imports of ores and minerals increased sharply by 4.2 folds or 325.92 per cent year – on – year to $ 1.7 million; metal products – up by 139.43 per cent; and plastic products – up by 144.66 per cent.
Vietnam’s imports from Singapore in the first 6 months of 2017 (Unit: US$ - source: the General Department of Customs)
Item
|
First 6 months of 2017
|
First 6 months of 2016
|
Comparison (%)
|
Total
|
2,844,621,963
|
2,572,380,446
|
10.58
|
Petroleum of all kinds
|
1,309,935,301
|
911,119,314
|
43.77
|
Computers, electronics and components
|
382,722,047
|
638,489,554
|
-40.06
|
Machines, equipment and spare parts
|
170,872,928
|
205,151,357
|
-16.71
|
Plastics
|
140,764,794
|
118,575,268
|
18.71
|
Other oil products
|
129,533,796
|
102,377,135
|
26.53
|
Hygiene products
|
97,893,996
|
91,324,910
|
7.19
|
Chemicals
|
93,461,803
|
56,509,336
|
65.39
|
Chemical products
|
89,837,668
|
72,668,344
|
23.63
|
Paper of all kinds
|
87,766,574
|
75,041,627
|
16.96
|
Milk and dairy products
|
64,813,940
|
70,909,572
|
-8.60
|
Other food products
|
51,663,606
|
50,816,542
|
1.67
|
Iron and steel scraps
|
27,778,859
|
10,909,476
|
154.63
|
Pesticide and materials
|
25,044,882
|
24,332,141
|
2.93
|
Plastic products
|
21,507,918
|
8,791,112
|
144.66
|
Iron and steel products
|
11,375,150
|
13,438,757
|
-15.36
|
Animal feed and materials
|
8,447,944
|
10,002,401
|
-15.54
|
Other ordinary metals
|
8,278,188
|
9,101,174
|
-9.04
|
Seafood
|
5,791,238
|
3,084,247
|
87.77
|
Electric wires and cables
|
4,330,157
|
5,497,175
|
-21.23
|
Metal products
|
3,268,398
|
1,365,065
|
139.43
|
Means of transport and spare parts
|
3,133,443
|
3,736,396
|
-16.14
|
Pharmaceutical materials
|
2,971,829
|
2,613,941
|
13.69
|
Rubber products
|
2,781,931
|
2,422,219
|
14.85
|
Confectionery and grain products
|
2,621,741
|
2,733,864
|
-4.10
|
Iron and steel of all kinds
|
2,116,819
|
2,828,387
|
-25.16
|
Pharmaceuticals
|
1,869,511
|
4,856,754
|
-61.51
|
Cloth of all kinds
|
1,845,143
|
1,488,964
|
23.92
|
Ores and minerals
|
1,788,439
|
419,900
|
325.92
|
Textile, garment, leather and footwear materials
|
1,136,689
|
1,071,610
|
6.07
|
Oil and grease
|
1,050,435
|
865,109
|
21.42
|
Paper products
|
897,188
|
830,178
|
8.07
|
Tobacco materials
|
115,056
|
1,647,879
|
-93.02
|
CK
Source: VITIC
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