Vietnam remained Singapore’s 10th largest trading partner during the period. The country was also a major trading source for Singapore across three key categories: electrical machinery and equipment and parts (HS85); mineral fuels, oil and related products (HS27); and nuclear reactors, boilers, machinery and mechanical appliances (HS84).

All three groups recorded positive growth in both exports and imports. Specifically, HS85 exports from Singapore to Vietnam rose 9.4%, while Singapore’s imports from Vietnam surged 147%. HS27 exports grew 15.5% and 380.9% respectively, while HS84 products increased 24.7% and 245.5%.

These trends align with Singapore’s broader trade performance and the shared trade objectives of both countries. A recent report by Singapore’s Ministry of Trade and Industry showed that non-oil domestic exports (NODX) and re-exports (NORX) rose 15.3% and 61.4%, respectively, in March 2026, extending quarterly gains.

​This underscores Singapore’s deepening participation in global value chains, particularly by capitalising on rising global demand for electronic components used in artificial intelligence technologies. Meanwhile, the increase in petrol-related trade values likely reflects higher global oil prices.

Data from Enterprise Singapore indicated that bilateral trade reached 13.6 billion SGD (10.6 billion USD) in Q1, up 38.3% year-on-year. Singapore’s exports to Vietnam rose 6.5% to 7.7 billion SGD (6.03 billion USD), while imports from Vietnam jumped 128.7% to 5.8 billion SGD, a strong signal of Vietnam’s rapidly growing export momentum in the Singapore market./.

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