In particular, Vietnam was Singapore's 8th export market with a turnover of 1.66 billion USD, an increase of around 15% year-on-year. It was the 17th largest import partner of Singapore with a turnover of 505 million USD, up 30%.
According to the trade office, most of Vietnam's exports to Singapore enjoyed growth in January. Among them, iron and steel increased more than 30 times.
Among Vietnam's imports from Singapore, the group with the largest import turnover was machinery, equipment, mobile phones, components and spare parts, which reported a year-on-year surge of nearly 20%. The remaining groups saw a growth of over 20%.
To promote exports to Singapore, the office will continue to update the policies and import-export situation of the island nation, facilitate trade connections between companies of both countries as well as assist Singaporean firms in exploring sources of goods and investing in Vietnam./.
