Singapore, Vietnam enjoy strong trade growth

11:21 | 09/03/2015 Trade

Bilateral trade between Vietnam and Singapore continued to experience strong growth during January, hitting US$1.577 billion, a year-on-year increase of 5.2%, says Singapore Department of Statistics (DOS).

Singapore, Vietnam enjoy strong trade growth

Vietnam’s exports to the partner rose by 6.2% against the same period last year to US$331.6 million. 

Some key export products maintained high growth, for example, oil and gas amounting US$96.3 million while several faced a drop, including coffee and tea, down 51.4% to US$8.1 million, and seafood, down 13% to US$5.2 million. 

Meanwhile, Singapore shipped to Vietnam US$1.24 billion worth of commodities with the bulk of its products seeing a jump during the period, notably beverage, up 192.5% to US$63.3 million, chemicals, up 182% to US$23.02, and telephones and components, up 146.3 percent to US$492.3 million. 

Of the imports, made-in-Singapore products accounted for US$450 million, increased by 5.8%.

Source VOV News