Vietnam-Singapore Trade Turnover Reaches Impressive Growth

According to statistics from Enterprise Singapore (ESG), Singapore’s total trade with the world in February 2025 reached over SGD 100.57 billion, increasing by 4.63% compared to the same period in 2024. Exports reached nearly SGD 53.89 billion, up 5.43%, while imports exceeded SGD 46.68 billion, up 3.73%. International shipping and logistics companies are benefiting from this growth trend as transportation demand continues to rise.#Vietnam Freight forwarder#freight forwarding#cargo courier service#international shipping companies#shipping service company

For the first two months of 2025, Singapore’s trade with the world totaled over SGD 214.5 billion, a 5.66% increase compared to the same period last year. Exports reached over SGD 113.2 billion (up 4.1%) and imports over SGD 101.3 billion (up 7.48%). During this period, Singapore recorded positive growth with 11 of its 15 largest trading partners, with some markets showing remarkable growth such as Taiwan (China) up 60.7% and the UK up 39.13%. Freight service providers are expanding their capacity to meet the increasing volume of goods.#Vietnam Freight forwarder#freight forwarding#cargo courier service#international shipping companies#shipping service company

In the first two months of 2025, bilateral trade turnover between Vietnam and Singapore reached over SGD 6.57 billion, increasing by 27.15% compared to the same period in 2024.

Notably, Vietnam has emerged as Singapore’s 9th largest trading partner after the first two months of 2025, with bilateral trade reaching over SGD 6.57 billion, an impressive increase of 27.15% compared to the same period last year. This figure has generated significant work volume for cargo logistics services between the two countries.#Vietnam Freight forwarder#freight forwarding#cargo courier service#international shipping companies#shipping service company

Regarding exports, Vietnam currently ranks 14th among Singapore’s largest import partners, with a turnover of over SGD 1.54 billion in the first two months of the year, up 23.21%. Conversely, Vietnam is Singapore’s 7th largest export market with a turnover of nearly SGD 5.06 billion, up 28.38%. Many businesses providing shipping service companies are focusing on this trade route due to its impressive growth rate.#Vietnam Freight forwarder#freight forwarding#cargo courier service#international shipping companies#shipping service company

In February 2025 alone, the total trade turnover between Vietnam and Singapore reached over SGD 3.18 billion, up 40.41% compared to the same period last year. Exports from Vietnam to Singapore maintained very high growth (31.01%) with a value of SGD 721.37 million, while import turnover also grew excellently at 43.43%, reaching nearly SGD 2.46 billion. Logistics companies are optimizing their processes to meet the increasing transportation demand.#freight delivery service#freight and logistics companies#local agent#customs broker#combined truck#crostrade#cfs warehouse#non commercial#cargo#no permit

In terms of goods structure, temporary imports and re-exports through Singapore to Vietnam account for a large proportion, with 72.15% of the total export turnover from Singapore to Vietnam, equivalent to SGD 3.65 billion. If only counting goods originating from Singapore, Vietnam has a trade surplus of about SGD 105.7 million. This requires companies providing freight forwarding services to clearly understand regulations on the origin of goods to optimize benefits for customers.#freight delivery service#freight and logistics companies#local agent#customs broker#combined truck#crostrade#cfs warehouse#non commercial#cargo#no permit

The commodity group with the largest export turnover to Singapore – machinery, equipment, mobile phones, components and spare parts – showed strong growth.

Regarding export commodity groups from Vietnam to Singapore, in February 2025, all three key export groups continued to increase significantly: machinery, equipment, mobile phones and components (up 65.25%); reactors, boilers, machine tools and equipment parts (up 68.83%); glass and glass products (up 87.27%). Some other sectors also had impressive increases such as: medical equipment, watches (up more than 89.64%) and alcoholic beverages (up more than 84.32%). Global transport companies are adapting to these changes in the commodity structure.#freight delivery service#freight and logistics companies#local agent#customs broker#combined truck#crostrade#cfs warehouse#non commercial#cargo#no permit

In the opposite direction, the import commodity groups from Singapore to Vietnam in February also showed strong growth in three key groups: machinery, equipment, mobile phones and components (up 44.58%); gasoline and petroleum products (up 24.73%); reactors, boilers and industrial machinery (up 142.75%). Notably, some sectors increased dramatically such as: lead products (up 34 times) and pharmaceuticals (up 2.3 times). These changes require overseas shipments services to be flexible to meet new demands.#freight delivery service#freight and logistics companies#local agent#customs broker#combined truck#crostrade#cfs warehouse#non commercial#cargo#no permit

According to Vietnam’s Trade Counselor in Singapore, Singapore’s trade situation with the world in February 2025 continues to maintain the positive momentum from the final months of 2024. Export turnover from Vietnam to Singapore continues to grow well, bringing Vietnam to the position of Singapore’s 9th largest trading partner. With all three largest export items showing strong growth, freight and logistics companies have good opportunities to expand services and customers in this market.#freight delivery service#freight and logistics companies#local agent#customs broker#combined truck#crostrade#cfs warehouse#non commercial#cargo#no permit

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      Mr. Jimmy
General Manager TPG
(+84)-(0)903917505