Viet Nam-Singapore trade reflects deeper integration in supply chains

Trade between Viet Nam and Singapore in the first five months of 2026 continued to demonstrate the growing integration of the two economies in industrial, technology and energy supply chains, reflecting their efforts to strengthen resilience amid regional and global uncertainties.

According to the Viet Nam Trade Office in Singapore, Viet Nam remained Singapore’s 10th largest trading partner during the period, with bilateral trade reaching 23.3 billion SGD (18.02 billion USD), up 43.4% year-on-year.

Singapore’s exports to Viet Nam totalled 12.3 billion SGD, up 4.8%, while its imports from Viet Nam surged 142.9% to 11 billion SGD. Excluding re-exports and considering only goods of domestic origin, Singapore recorded a trade deficit of nearly 7.3 billion SGD with Viet Nam.

Three product groups - electrical machinery and equipment and parts (HS 85); mineral fuels, oils and distillation products, bituminous substances and mineral waxes (HS 27); and nuclear reactors, boilers, machinery and mechanical appliances and parts (HS 84) - continue to post strong positive growth.

A report released by Singapore’s Ministry of Trade and Industry on June 17 showed that the country’s non-oil domestic exports rose 38.4%, with electronic exports soaring 94.8%, driven largely by demand for artificial intelligence-related products, integrated circuits, data storage devices and personal computers.

This trend has created favourable conditions for trade in HS 85 and HS 84, while highlighting Viet Nam’s growing role in regional supply chains.

In the first four months of 2026, Viet Nam’s imports of refined petroleum products and liquefied petroleum gas (LPG) increased significantly. Meanwhile, Singapore continued to strengthen its role as a regional hub for trading, storage, refining and distribution of fuels./.

Source: Vietnam+