Vietnam listed among top 11 exporting countries to Singapore
PSNews - Rice and cereals exports recorded a high growth rate compared to recent months. Meanwhile, exports of oil and gas, as well as petroleum products, optical machines, measuring instruments, and medical equipment, all endured a sharp decrease.
According to the Vietnam Trade Office in Singapore, Vietnam retained its position as Singapore's 11th largest trading partner during the seven-month period, with two-way trade turnover reaching roughly SGD16.8 billion, a fall of 9.41% on-year.
Vietnam has mainly exported machinery, equipment, mobile phones, components and spare parts, along with glass and glass-based products to the city-island nation.
Most notably, rice and cereals exports recorded a high growth rate compared to recent months. Meanwhile, exports of oil and gas, as well as petroleum products, optical machines, measuring instruments, and medical equipment, all endured a sharp decrease.
Furthermore, 13 out of 21 import groups from Singapore to Vietnam enjoyed positive growth, including machinery, equipment, tools, spare parts, computers, plastic and plastic products, paper and paper products, tobacco and alternative tobacco products.
Despite indicators of trade turnover between both nations remaining negative, there are positive signals regarding the turnover value of the following month compared to the previous month which has seen improvement in both exports and imports.
