Singapore's import-export turnover reached over 214.5 billion SGD
According to the Vietnam Trade Office in Singapore, statistics from the Singapore Enterprise Management Authority show that in February 2025, Singapore's total import-export turnover with the world reached over 100.57 billion SGD, up 4.63% over the same period in 2024, of which exports reached nearly 53.89 billion SGD, up 5.43% and imports were over 46.68 billion SGD, up 3.73%.
In terms of export turnover, goods originating from Singapore reached more than SGD 22.6 billion (down 2.38%) and goods originating from third countries reached nearly SGD 31.3 billion (up 11.9%), accounting for 41.95% and 58.05% of Singapore's total export turnover, respectively.
In the first two months of 2025, Singapore's import and export turnover with the world reached more than SGD 214.5 billion, up 5.66% over the same period in 2024, of which exports were more than SGD 113.2 billion (up 4.1%) and imports were more than SGD 101.3 billion (up 7.48%).
In the first two months of 2025 (compared to the same period in 2024), import-export turnover between Singapore and most of its largest partners (11/15 partners) grew positively, some partners had strong growth in turnover such as Taiwan (China) increased by 60.7%; UK increased by 39.13%... Taiwan (China), Malaysia, China and the US are respectively the 4 largest trading partners of Singapore with total trade turnover of: 24.45 billion SGD; 24 billion SGD; 23.89 billion SGD and 21.93 billion SGD.
Vietnam - Singapore import-export turnover reaches over 6.57 billion SGD
According to statistics from Enterprise Singapore (ESG), after 2 months of 2025, Vietnam holds the position of Singapore's 9th largest trading partner, with two-way trade turnover of over 6.57 billion SGD, up 27.15%.
Regarding imports, in the first 2 months of 2025, Singapore's main import markets were Taiwan (China), China, Malaysia, the US, South Korea, Japan... Vietnam currently ranks 14th among Singapore's largest import partners. 13/20 of Singapore's import partners have positive import growth, some partners have high growth rates such as Hong Kong (China) up 126.4%; Taiwan (China) up 44.66%; UK increased by 39.46%... Taiwan (China) continued to be the largest import market with a turnover of more than 16.27 billion SGD (up 44.66%). Followed by China (2nd) and the US (3rd) with turnovers of 12.27 billion SGD (up 7.74%) and 12.18 billion SGD (up 11.43%) respectively. Vietnam is Singapore's 14th largest import market with a turnover of more than 1.54 billion SGD (up 23.21%). Regarding exports, in the first two months of 2025, Singapore's main export markets were Hong Kong (China), Malaysia, and China with turnover reaching 12.48 billion SGD (up 0.45%), 11.82 billion SGD (up 11.57%) and 11.61 billion SGD (down 23.7%) respectively... Vietnam is Singapore's 7th largest export market with turnover of nearly 5.06 billion SGD (up 28.38%). In February 2025, the total export turnover between Vietnam and Singapore reached more than 3.18 billion SGD, an increase of 40.41% over the same period in 2024, exports from Vietnam to Singapore still maintained a very high growth rate (31.01%) with a value of 721.37 million SGD, import turnover also grew very high at 43.43%, reaching nearly 2.46 billion SGD. In the structure of goods exported from Singapore to Vietnam, goods originating from Singapore increased by 23.37%, reaching nearly 650 million SGD; goods from third countries through Singapore exported to Vietnam (accounting for 71% of export turnover) decreased by 3.95% to more than 1.8 billion SGD. Although the deficit between imports and exports is more than SGD 1.73 billion, if only counting the trade balance between Vietnamese goods and goods originating from Singapore, Vietnam has a trade surplus of more than SGD 71.45 million.
Accumulated in the first two months of 2025, the two-way import-export turnover between Vietnam and Singapore reached more than SGD 6.57 billion, an increase of 27.15% over the same period in 2024, of which exports increased sharply by 23.21%, reaching more than SGD 1.51 billion and imports were nearly SGD 5.1 billion, an increase of 28.38%.
In terms of origin of goods, temporarily imported and re-exported goods through Singapore to Vietnam accounted for nearly 72.15% of the total export turnover from Singapore to Vietnam, equivalent to SGD 3.65 billion. If only counting goods originating from Singapore, Vietnam has a trade surplus of about SGD 105.7 million.
Regarding the export commodity groups from Vietnam to the Singapore market, in February 2025, all three main export commodity groups of Vietnam to Singapore continued to increase very strongly, specifically: machinery, equipment, mobile phones, components and spare parts of all kinds (up 65.25%); reactors, boilers, machine tools and spare parts of the above machines (up 68.83%); glass and glass products (up 87.27%).
Some other export commodity groups also had very strong growth such as: Optical machines, measuring instruments, medical equipment, watches, musical instruments and accessories of all kinds (up more than 89.64%); alcohol and beverages (up more than 84.32%)... On the contrary, some groups had quite a sharp decline such as gasoline and petroleum products (down 90.82%); cigarettes and tobacco substitutes (down 23.79%)...
Regarding the import groups from Singapore to Vietnam in February, there was a very strong growth in all three main import groups: machinery, equipment, mobile phones, components and spare parts of all kinds (up 44.58%); petroleum and petroleum products (up 24.73%) and reactors, boilers, machine tools and spare parts of the above machines (up 142.75%).
Some other groups continued to increase dramatically such as: Lead and products made of lead (up 34 times), pharmaceuticals (up 2.3 times)... On the contrary, some groups decreased quite strongly such as: Pearls, precious stones, and jewelry products (down 52.48%), watches, personal watches and parts (down 42.29%).
World trade with Singapore in 2025 maintains positive momentum
Mr. Cao Xuan Thang, Trade Counselor of Vietnam in Singapore, said that Singapore's trade situation with the world in February 2025 continued to maintain positive momentum from the last months of 2024 when all indicators of total two-way turnover and export and import turnover grew positively.
Export turnover from Vietnam to Singapore in February 2025 continued to grow very well with all 3 turnover indicators increasing sharply, making Vietnam the 9th largest trading partner of Singapore. Vietnam rose to become the 14th largest export partner to Singapore and the 7th largest import partner of Singapore.
In February, Vietnam's three largest export groups to Singapore, HS 85, HS84 and HS70, all grew very strongly compared to the same period in 2024, with growth rates of 65.25%, 68.83% and 87.27%, respectively.
Source: Vitic/ congthuong.vn