Vietnam, Singapore enjoy surge in H1 bilateral trade

Two-way trade between Vietnam and Singapore rose 23.9 percent to nearly SGD 10.1 billion (USD 8.1 billion) in the first half of this year, according to the Singapore Department of Statistics.

Vietnam’s export to the island country reached over SGD 1.9 billion (USD 1.57 billion ), up 34.2 percent year-on-year, with mobile phones, spare parts, oil and gas, coffee and tea as staples.

Meanwhile, the country spent over SGD 8.1 billion (USD 6.5 billion) purchasing mobile phones, accessories, plastic, oil and gas, among others from the market.

During the period, Singaporean firms poured about USD 732 million, both newly-registered and additional investment, into Vietnam .

As of June, Singapore had 1,284 valid investment projects worth over USD 30.54 billion, becoming the third biggest investor among 101 nations and territories investing in Vietnam.

Source: VNA

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