Singapore (VNA) – Vietnam’s trade with Singapore hit an all-time high in 2024, surpassing 31.67 billion SGD (approximately 23.5 billion USD).
Vietnam’s exports to Singapore showed strong growth throughout the year, with 10 months posting increases of over 15%. This impressive performance played a major role in the record-setting trade figure.
Data from Enterprise Singapore indicates that Vietnam enjoyed a trade surplus of about 1.59 billion SGD in 2024. Key exports such as electronics, machinery, and glass remained robust, while agricultural goods like rice, seafood, and vegetable oils saw significant growth.
In December alone, trade turnover between the two nations exceeded 3.06 billion SGD, reflecting a 19.24% year-on-year increase.
For the full year, Vietnam’s exports to Singapore totaled nearly 8.58 billion SGD, marking a sharp 30.8% rise. Meanwhile, imports grew by 3.24% to over 23.09 billion SGD. This resulted in a 9.49% overall increase in bilateral trade compared to 2023.
Vietnam remained Singapore’s 11th-largest trade partner and 10th-largest export market in 2024.
Despite the positive results, Cao Xuan Thang, head of the Vietnam Trade Office in Singapore, noted that economic experts in Singapore remain cautious about 2025 prospects due to potential geopolitical tensions among major economies.
The office is also working to help Vietnamese poultry meat and eggs enter the market, he said. /.
Newly-appointed Vietnamese Ambassador to Singapore Tran Phuoc Anh on January 7 presented his credentials to Singaporean President Tharman Shanmugaratnam.
Vibrant economic diplomatic activities in 2024 have contributed to creating a firm foundation for Vietnam and Singapore to upgrade their relations to a comprehensive strategic partnership level, according to Cao Xuan Thang, Trade Counsellor and head of the Vietnam Trade Office in Singapore.
The official visit to Singapore by National Assembly Chairman Tran Thanh Man and his spouse aims to further deepen the strategic partnership between Vietnam and Singapore.
The North-South Expressway project is scheduled for completion by 2030, aiming to establish the groundwork for Vietnam’s modern railway industry and stimulate regional economic development, positioning the country for a significant economic leap in the era of national rise.
The probe, initiated on June 11 following a petition by the US Coalition for Fair Trade in Hardwood Plywood, targets products classified under HS Code 4412 and 9403 imported from China, Indonesia and Vietnam.
Sun PhuQuoc Airways was born as a perfect piece in Sun Group’s strategic vision to build a premium ecosystem of tourism, entertainment, real estate, and aviation. With a pioneering ambition, Sun PhuQuoc Airways is not just an airline, but a symbol of connection – bringing the world to Phu Quoc and taking Phu Quoc to the world.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
