Vietnam, Singapore trade grows 20%

Vietnam-Singapore trade hit US$15.6 billion (SGD20.4 billion) in 2014, a 20.3% surge from 2013, according to the Singapore Department of Statistics.

Vietnam shipped its partner around US$3.1 billion (SGD4.05 billion) worth of commodities, up 22.4%. Primary exports include telephones and electronics goods and components, which brought home US$987 million (SGD1.32 billion) last year. Other key export products include minerals, coffee, tea, footwear, machines and crude oil. 

Singapore’s export to Vietnam also rose significantly, up 20.1% to US$12.75 billion (SGD16.34 billion) last year. Domestic products comprised US$5.46 billion (SGD7.3 billion), up 18.7%, with the remaining exports consisting of the sale of re-exports, up 21.2%. 

Singapore mainly ships telephones, electronics goods and components, petroleum, plastic and plastic products, books, and photos to Vietnam.