Business

Vietnam, Singapore enjoy strong trade growth

Bilateral trade between Vietnam and Singapore continued to experience strong growth during January, hitting 2.178 billion SGD (1.577 billion USD), a year-on-year increase of 5.2 percent, says Singapore Department of Statistics (DOS).
Bilateral trade between Vietnam and Singapore continued to experiencestrong growth during January, hitting 2.178 billion SGD (1.577 billionUSD), a year-on-year increase of 5.2 percent, says Singapore Departmentof Statistics (DOS).

Vietnam’s exports to thepartner rose by 6.2 percent against the same period last year to 458million SGD (331.6 million USD).

Some key exportproducts maintained high growth, for example, oil and gas amounting 133million SGD (96.3 million USD) while several faced a drop, includingcoffee and tea, down 51.4 percent to 11.2 million SGD (8.1 million USD),and seafood, down 13 percent to 7.2 million SGD (5.2 million USD).

Meanwhile, Singapore shipped to Vietnam 1.72 billion SGD (1.24 billionUSD) worth of commodities with the bulk of its products seeing a jumpduring the period, notably beverage, up 192.5 percent to 87.4 millionSGD (63.3 million USD), chemicals, up 182 percent to 31.8 million SGD(23.02 USD), and telephones and components, up 146.3 percent to 680million SGD (492.3 million USD).

Of the imports, made-in-Singapore products accounted for 621 million SGD (450 million USD), increased by 5.8 percent).-VNA
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