Exports to Singapore rise sharply

(VOV) - Vietnam’s exports to Singapore increased 23% to SGD1.237 billion over the first five months of this year.

According to Statistics Singapore, four groups of major products recorded export values exceeding SGD100 million - machinery, equipment, and tools (SGD436.7 million), phones and spare parts (SGD256.2 million), paper and paper products (SGD134.5 million), and glass and glass products (SGD106.7 million).

Rice, produce, and seafood exports were also higher than last year’s figures.

Vietnam’s Singaporean imports fell 2% to SGD5.431 billion during the same period. Vietnam primarily imports petroleum and its products (SGD899.7 million, down 18%), machinery, equipment, and tools (SGD379.3 million), paper and industrial products (SGD204 million), and plastics (SGD127 million).

Two-way trade turnover totalled SGD15.8 billion in 2012, of which SGD2 billion came from Vietnamese exports.