Singapore's trade with partners shows positive growth
According to statistics from Singapore Enterprise Agency, cited by the Vietnam Trade Office in Singapore, in December 2025 alone, Singapore's total trade turnover with the world reached SGD 130.6 billion, a 12.3% increase compared to the same period in 2024, of which: Export reached SGD 66.5 billion, a 10.6% increase, and imports reached SGD 64.1 billion, a 14.2% increase.
In terms of goods exports, value of domestically produced goods exports reached S$24.6 billion, an increase of 4%, while the value of temporary imports for re-export (transit) reached S$41.8 billion, an increase of 14.8%.
Statistics from Singapore Enterprise Agency also show that, for the whole year of 2025, Singapore's total import and export turnover with the world reached nearly S$1.4 trillion, an increase of 8.7% compared to the same period in 2024, of which: Exports reached S$739.4 billion, an increase of 9.6%; imports reached S$658.3 billion, an increase of 7.7%.
In terms of goods exports, value of domestically produced goods exports reached S$284.7 billion, a decrease of 0.7%, while value of temporary imports for re-export (transit) reached S$454.8 billion, an increase of 17.2%.
In 2025, Singapore's trade with its 15 main partners is expected to maintain positive growth for most, with rankings remaining largely unchanged from the beginning of 2025.
In terms of trade value, Taiwan (China) continues to temporarily hold position of Singapore's largest trading partner with bilateral trade reaching SGD 170.3 billion, a 45.8% increase compared to the same period in 2024. The top 5 largest trading partners of Singapore are also China (bilateral trade reaching SGD 162.9 billion, down 4.3%), Malaysia (SGD 145 billion, up 4.6%), the United States (USD 139.2 billion, up 5.5%), and Hong Kong (China) (SGD 87.5 billion, up 11.3%).
In terms of trade with Vietnam throughout 2025, Singapore is expected to have a trade surplus with Vietnam, reaching S$13.7 billion, a decrease of 5.9% compared to the same period in 2024.
According to statistics from Singapore Enterprise Agency, in December 2025 alone, total import and export turnover between Singapore and Vietnam reached nearly S$4 billion, an increase of 30.1% compared to the same period in 2024. Specifically: Singapore's exports to Vietnam reached S$2.3 billion, an increase of 1.5%, while imports from Vietnam reached S$1.7 billion, an increase of 113.6%.
In Singapore's exports, value of domestically produced goods exported to Vietnam reached S$705.6 million, an increase of 1.6% and value of temporary imports for re-export (transit) to Vietnam reached S$1.6 billion, an increase of 1.5%.
For the whole year of 2025, Singapore's total trade with Vietnam is projected to reach nearly S$40 billion, a 26.2% increase compared to the same period in 2024. Specifically: Singapore's exports to Vietnam reached S$26.8 billion, a 16.1% increase; and Singapore's imports from Vietnam reached S$13.1 billion, a 53.2% increase.
In terms of Singapore's exports, value of domestically produced goods exported to Vietnam reached S$7.3 billion, a 4.5% increase, while the value of goods temporarily imported for re-export (transit) to Vietnam reached S$19.5 billion, a 21.1% increase.
In 2025, Vietnam maintained its position as Singapore's 10th largest trading partner.
Regarding exports, statistics from Singapore Enterprise Agency show that in 2025, two product groups – machinery and electrical equipment and parts (HS 85) and fuels, petroleum and distillate products; bituminous substances; mineral waxes (HS 27) – continue to be Singapore's top two export groups to Vietnam.
In 2025, total export value of these two groups reached SGD 18.1 billion, accounting for 67.6% of Singapore's total exports to Vietnam in 2025. These two groups are currently experiencing significant growth, specifically: machinery and electrical equipment and parts group (HS 85) have an export value to Vietnam of SGD 14 billion, an increase of 26.9% compared to the same period in 2024; Meanwhile, group of fuels, petroleum and distillate products; bituminous substances; mineral waxes (HS 27) reached S$4.1 billion, an increase of 10.4%.
Although both groups account for a high proportion, nature of Singapore's exports to Vietnam differs significantly. While group of machinery and electrical equipment and parts (HS 85) has a temporary import/re-export rate from a third country of up to 96.5%, group of fuels, petroleum and distillate products; bituminous substances; mineral waxes (HS 27) is mainly produced domestically in Singapore, with domestic value in exports to Vietnam reaching 99.1%.
Besides two groups mentioned above, among the Top 15 main export groups from Singapore to Vietnam in 2025, there are several other noteworthy groups with significant export values or impressive growth, such as: Nuclear reactors, boilers, machinery and equipment and parts (HS 84) reaching SGD 2.2 billion, up 34.3%; plastics and plastic products (HS 39) reaching SGD 1 billion, down 10.9%; and essential oils, perfumes, cosmetics or hygiene preparations (HS 33) reaching SGD 616.9 million, down 4.7%.
Regarding exports, statistics from Singapore Enterprise Agency show that in 2025, the group of machinery and electrical equipment and parts (HS 85) continued to be the highest-value import group from Vietnam, reaching over SGD 6.7 billion, an increase of 112.0% compared to the same period in 2024 and accounting for 51.2% of Singapore's total imports from Vietnam.
The second and third highest import groups from Vietnam were: Nuclear reactors, boilers, machinery and mechanical equipment and parts (HS 84), reaching SGD 3.3 billion, an increase of 79.6%; and glass and glass products (HS 70), reaching nearly SGD 856 million, an increase of 3.6%.
Furthermore, remaining groups in Singapore's Top 15 main import categories from Vietnam mostly recorded negative growth compared to the same period in 2024, with only three groups recording positive growth: Fish and crustaceans/molluscs/other aquatic invertebrates (HS 03), reaching SGD 125.5 million, up 10.7%; optical/photography/cinematic/precision measuring/medical or surgical examination instruments and equipment and parts/accessories (HS 90), reaching SGD 112.4 million, up 30.1%; and beverages, wine and vinegar (HS 22), reaching SGD 51.6 million, up 26.7%.
Regarding Singapore's trade relations with Vietnam, bilateral trade is expected to show significant improvement throughout 2025, with export and import growth rates positive in all months of 2025 compared to the same period in 2024. Two bright spots are October and December 2025, when Singapore's imports from Vietnam increased by 109.3% and 113.6% respectively (doubling) compared to the same months in 2024.
In 2025, Vietnam continued to maintain its position as Singapore's 10th largest trading partner, with bilateral trade reaching a new record high of nearly SGD 40 billion, a 26.2% increase compared to the same period in 2024, breaking the previous record of SGD 31.67 billion in 2024. Of that total, Singapore's exports to Vietnam reached S$26.8 billion, an increase of 16.1%; Singapore's imports from Vietnam reached S$13.1 billion, an increase of 53.2%. If we only consider goods originating from Singapore and goods originating from Vietnam, we have a trade surplus of over S$5.8 billion.

Source: Vitic/ congthuong.vn