According to data from Enterprise Singapore, bilateral trade relations between Vietnam and Singapore in 2025 witnessed a remarkable resurgence. Total import-export turnover between the two countries reached nearly SGD40 billion (nearly $32 billion), a 26.2% increase compared to 2024, officially shattering the previous record of SGD31.67 billion ($25 billion).
Notably, the growth rate of Singapore's imports from Vietnam significantly outpaced the reverse flow. While Singapore’s exports to Vietnam rose by 16.1% (reaching 26.8 billion SGD), imports from Vietnam to Singapore surged by 53.2% to hit 13.1 billion SGD. This performance firmly secured Vietnam's position as Singapore's 10th largest trading partner.
When considering only goods of domestic origin (excluding re-exports), Vietnam recorded a trade surplus of over 5.8 billion SGD with Singapore. This achievement is the result of persistent efforts in implementing Free Trade Agreements (FTAs) and continuous trade promotion activities over many years.
The most impressive highlight of the 2025 export landscape was the spectacular rise of the seafood industry. Vaulting from 6th place in previous years, Vietnamese seafood made a "quantum leap" to become Singapore's third-largest supplier, trailing only Malaysia and Indonesia.
With a total export value of 125.5 million SGD in 2025, a 10.7% year-on-year increase, Vietnam now holds a 10.3% share of Singapore’s total seafood import market. After overtaking China in the first quarter of 2025 to claim the 4th spot, Vietnam officially secured its 3rd place position by the end of the year.
The key products driving Vietnam's dominance in this market are fish fillets and chilled/frozen fish meat. Export turnover for this group reached 63 million SGD, up 4.8%, accounting for 29.7% of the market share in Singapore and maintaining absolute dominance. Furthermore, other categories recorded stellar growth: mollusks surged by 35.8%, while crustaceans rose by 25.4%.
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