Data from Singapore’s Accounting and Corporate Regulatory Authority showed that bilateral trade reached nearly SG$18.8 billion in January-April, up 43.7% from a year earlier.

The island city-state’s exports to Vietnam totaled SG$10.2 billion, up 8.9%, while imports from Vietnam climbed 133% to SG$8.5 billion.

Of Singapore’s exports, goods of Vietnamese origin were valued at SG$3.2 billion, an increase of 13.8%, while re-exported and transshipped goods hit SG$7.1 billion, up 6.8%.

If only goods originating from Vietnam and Singapore are counted, Vietnam posted a trade surplus of SG$5.36 billion with Singapore, equivalent to more than US$4.18 billion.

The Vietnam Trade Office in Singapore said machinery and electrical equipment and parts (HS 85), mineral fuels and petroleum products (HS 27), and machinery and mechanical appliances and parts (HS 84) continued to see strong growth in both export and import turnover.

Singapore’s exports to Vietnam in the HS 85 category edged up 3.4%, while its imports from Vietnam surged 149.2%. The corresponding figures for HS 27 were 25.8% and 302.5%, while HS 84 posted increases of 65.3% and 243.3%, respectively.

Source: VOV