Vietnam Trade Office in Singapore said that statistics from Singapore Enterprise Authority in January 2025 reported that Singapore's total import-export turnover with the world reached more than SGD 114.15 billion, up 6.75%, of which exports reached more than SGD 59.4 billion, up 2.97% and imports were nearly SGD 54.75 billion, up 11.17% compared to January 2024.
In terms of export turnover, goods originating from Singapore reached more than SGD 24.67 billion (down 1.85%) and goods originating from third countries reached more than SGD 64.74 billion (up 6.7%), accounting for 41.53% and 58.47% of Singapore's total export turnover, respectively.
In January 2025, import-export turnover between Singapore and 9/15 partners grew positively, some partners had strong, even sudden increases in turnover such as Taiwan (China) (up 92.27%); Philippines (up 25.99%), UAE (up 18.7%)... Taiwan (China), Malaysia, China and the US are Singapore's 4 largest trading partners with total trade turnover of: SGD 14.9 billion, SGD 13.2 billion; SGD 12.8 billion and SGD 11.21 billion, respectively. Vietnam is Singapore's 9th largest trading partner
According to statistics from Enterprise Singapore (ESG), in January 2025, Vietnam rose to become Singapore's 9th largest trading partner, with two-way trade turnover of more than SGD 3.39 billion, up 16.83% over the same period last year.
In terms of imports, in January 2025, Singapore's main import markets were Taiwan (China), China, Malaysia, the US, South Korea... Vietnam currently ranks 15th out of 20 largest import partners of Singapore with a turnover of more than SGD 794 million (up 16.97%). 13/20 markets grew positively with many partners having strong growth such as Hong Kong (increased by more than 2.4 times), Taiwan (China) (increased by 79.42%), UAE (increased by 30.22%)...Regarding exports, in January 2025, Singapore's main export markets were Malaysia (6.75 billion SGD, up 24.86%), Hong Kong (China) (6.58 billion SGD, up 4.68%), China (6.06 billion SGD, down 31.02%)...Vietnam is Singapore's 8th export market with a turnover of 2.56 billion SGD, up 16.79%. 13/20 of Singapore's leading export markets achieved positive growth, some markets had quite high growth rates such as Taiwan (China) (up nearly 127%), Malaysia (up 24.86%), Philippines (up 20.72%)...
Regarding Vietnam - Singapore bilateral trade, in January 2025, total import-export turnover between Vietnam and Singapore reached 3.39 billion SGD, up 16.83% over the same period in 2024, of which exports from Vietnam to Singapore reached 794 million SGD, up 16.97% and imports from Singapore to Vietnam were about 2.6 billion SGD, up 16.79%.
In structure of goods exported from Singapore to Vietnam, goods originating from Singapore reached 759.19 million SGD, up 47.89% and goods from third countries through Singapore exported to Vietnam reached 1.84 billion SGD (accounting for 71%), up 7.46%.
If only calculating trade balance between Vietnamese goods and goods originating from Singapore, Vietnam had a trade surplus of about 34.8 million SGD.
Regarding group of export goods from Vietnam to Singapore, in January 2025, all 3 main export groups of Vietnam to Singapore continued to increase very strongly. Specifically: Group of machinery, equipment, mobile phones, components and spare parts of all kinds (up 46.02%); reactors, boilers, machine tools and equipment and spare parts of the above types of machines (up 47%); glass and glass products (up 58.91%). Some other industry groups also grew strongly, notably optical machines, measuring instruments, medical equipment, watches, musical instruments and accessories of all kinds (up 60.77%); tobacco and tobacco substitutes (up 52.87%); rice and cereals (up 36.43%)... Regarding group of imported goods from Singapore to Vietnam, all three main import groups had positive growth: machinery, equipment, mobile phones, components and spare parts of all kinds (up 9.33%); petroleum and petroleum products (up 107.87%) and reactors, boilers, machine tools and spare parts of the above machines (up 2.75%). Some other industries continued to increase dramatically such as: Zinc and zinc products (up nearly 1.6 times), pharmaceuticals (up 96%)...
World trade with Singapore in 2025 still has potential difficulties
According to Mr. Cao Xuan Thang - Trade Counselor of Vietnam in Singapore, Singapore's trade situation with the world in the first month of 2025 continued to maintain positive momentum from the last months of 2025 when all indicators of total two-way turnover and export and import turnover grew positively. However, assessing the long-term prospects for the whole year of 2025 still has many potential difficulties.
In its report on February 14, 2025, Singapore Ministry of Trade and Industry (MTI) maintained its official GDP growth forecast for the whole year of 2025 at 1-3%. The wide forecast range shows that MTI assesses that 2025 will still be uncertain with risks that could negatively impact investment, trade and global supply chain shifts.
First, trade tensions between major economies, along with risk of escalating geopolitical conflicts, could increase production costs as well as increase uncertainty in global economic policies.
Second, disruptions in global disinflation process could lead to longer-term tightening of financial conditions, potentially causing instability in banking and financial systems. In that context, manufacturing and trade-related services in Singapore are expected to continue to grow in 2025, although the growth rate may slow down compared to 2025. This is a fairly wide growth forecast range, showing that the Singaporean Government is still very cautious when assessing that negative factors are likely to persist.
In that context, import-export turnover between Vietnam and Singapore in January is still maintaining a very good positive growth momentum with all three turnover indicators increasing sharply, making Vietnam the 9th largest trading partner of Singapore. Vietnam has risen to become the 15th largest export partner to Singapore and the 8th largest import partner of Singapore.

Source: Vitic/ congthuong.vn