Vietnam, Singapore enjoy strong trade growth

11-Mar-2015 Intellasia | Bizhub | 6:00 AM Print This Post

Bilateral trade between Vietnam and Singapore continued to experience strong growth during January, touching more than S$2.17 billion (over $1.57 billion).

This reflects a year-on-year increase of 5.2 per cent, the Singapore Department of Statistics (DOS) said.

Vietnam’s exports to Singapore rose 6.2 per cent from the same period last year to S$458 million ($331.6 million).

Some key export products maintained high growth, for example, with oil and gas amounting to S$133 million ($96.3 million), while several products experience a drop, including coffee and tea, down 51.4 per cent to S$11.2 million ($8.1 million), and seafood, down 13 per cent to S$7.2 million ($5.2 million).

Meanwhile, Singapore shipped S$1.72 billion ($1.24 billion) worth of commodities to Vietnam, with the bulk of its products seeing a jump during the period, notably beverages, up 192.5 per cent to S$87.4 million ($63.3 million), chemicals, up 182 per cent to S$31.8 million ($23.02 million), and telephones and components, up 146.3 per cent to S$680 million ($492.3 million).

Of the imports, made-in-Singapore products accounted for S$621 million ($450 million), and increased by 5.8 per cent.

Last year, bilateral trade hit $15.6 billion, indicating a 20.3 per cent surge from 2013, the DOS revealed.


Category: Economy, Vietnam

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