The figure is 13.56% higher than the total S$31.67 billion for the whole of 2024. Vietnam remained Singapore’s 10th largest trading partner during the period.
Citing data from Singapore’s Accounting and Corporate Regulatory Authority, the Vietnam Trade Office in Singapore reported that in November alone, bilateral trade totaled S$2.9 billion, an increase of 15.8% compared to the same month last year.
Singapore’s exports to Vietnam, meanwhile, amounted to S$1.8 billion, edging up 0.1% from a year ago, while its imports from Vietnam surged 55.2% to S$1.1 billion. Of these, domestically manufactured goods were valued at S$450.3 million, down 13.4%, while re-exports amounted to S$1.4 billion, up 5.6%.
For the whole 11 months, the city-state’s exports to Vietnam reached S$24.5 billion, up 17.7% year-on-year, while its imports from Vietnam climbed sharply to S$11.5 billion, an increase of 47.2%. Domestically produced exports accounted for S$6.6 billion, rising 4.8%, while re-exports surged 23.3% to S$17.9 billion.
In purely trade accounting terms, Singapore posted a trade surplus of about S$13 billion with Vietnam during the period, similar to the level seen a year earlier. However, as re-exports made up more than 73% of Singapore’s exports to Vietnam, Vietnam posted a trade surplus of S$4.88 billion when considering only goods of Singaporean and Vietnamese origin.
Machinery and electrical equipment and parts, along with mineral fuels, oils and related products, remained Singapore’s two largest export groups to Vietnam, with a combined value of S$16.5 billion, or 67.5% of total exports. Meanwhile, machinery and electrical equipment was also Singapore’s top category of imports from Vietnam, more than doubling year-on-year to nearly S$5.9 billion.
Cao Xuan Thang, Vietnam’s Trade Counselor in Singapore, said while the city-state’s economic growth in 2026 may slow compared to 2025, maintaining product quality, upgrading design and packaging, applying technology to enhance efficiency, and safeguarding brand reputation will be key for Vietnamese businesses to sustain export growth in this important trans-shipment market.
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