Bilateral trade between Singapore and Vietnam hit SGD33 billion (roughly $25.3 billion) in the first 10 months of 2025, setting a new record for their trade value, according to a report from the Vietnam News Agency.
As per data from the Singapore Accounting and Corporate Regulatory Authority (ACRA), the Vietnam Trade Office in Singapore reported that bilateral trade increased 26.7% over the same period last year, surpassing the full-year 2024 record of SGD31.67 billion.
Singapore's imports to Vietnam increased by 46.4% to SGD10.4 billion, while exports reached SGD22.7 billion, up 19.4%.
Trade between the two nations reached SGD3.9 billion in October alone, up 36.8% from the previous year. Singapore's imports increased 109.3% to SGD1.7 billion, while its exports to Vietnam reached SGD2.2 billion, up 8.2%.
Vietnam maintained a trade surplus of almost SGD4.22 billion with Singapore when only goods from the two nations were taken into account.
Vietnam remains Singapore's tenth-largest trading partner.
Analysts say the continued momentum underscores the strengthening economic ties between the two countries, with digital economy cooperation, energy partnerships and supply chain diversification expected to drive future growth.
Both governments have signalled plans to deepen collaboration, suggesting that bilateral trade could surpass current records as early as 2026.
