Vietnam-Singapore trade volume at record highs
(VOV) - Two-way trade turnover between Vietnam and Singapore jumped US$13.11 billion in 2013, up 10.7% compared to 2012, according to the Singapore Statistics Department.
The value of Vietnam’s exports to Singapore spiked 36.3% to US$3 billion in 2013 while its Singaporean imports rose moderately by 5.1% to US$10.74 billion.
The country mainly exports to Singapore machinery, equipment and spare part (US$477 million), telephones and components (US$468 million), and crude oil (US$295 million)
Vietnam imports petroleum and related products valued atUS$1.78 billion. Its imports included machinery, equipment and toolsworthUS$790 million and paper and industrial products valued atUS$580.2 million.
The Vietnam embassy trade office in Singapore projects that two-way trade turnover and the export turnover to Singapore will continue to grow in 2014 in line with recent increases of US$34.6% and 36.3% in 2012 and 2013 respectively.