Vietnam’s Sustained Economic Growth Progressed due to the Exports to Singapore

Singapore’s Accounting and Corporate Regulatory Authority has unveiled its trading partnership with Vietnam in 2024 during January to November with the turnover of 28.6 billion SGD and Vietnam has become the 11th largest trading partner of Singapore. The Vietnam Trade Office has reported that the economic growth of Vietnam has risen to 31.32% due to its consistent export to Singapore for the first eleven months in 2024. Vietnam has now become,

  • 18th largest import partner of Singapore – 7.8 billion SGD (32.11%)
  • 10th largest export market for Singapore – 20.8 billion SGD (1.72%)

Vietnam’s Major Export Items

Exported Item to SingaporePercentage of Export
Machinery, Equipment, Mobile Phones, & Other Components52.57%
Reactors, Boilers, Machine Tools, Spare Parts95.93%
White Glass, Glass products77.98%
Toys, Game devices, sporting goods138%
Aluminium & its products89.79%

From the given statistics in the Vietnam plus, states that Vietnam’s volume of export will reach 1 billion USD by 2025 and they have listed out the pivotal agricultural products such as bananas, fresh mangoes which are exported in a high-quality. The distribution chain of Vietnamese exports has been increased globally by the partnership of the Cooperatives Union with the other regions. In 2024, Vietnam expanded their policies for their key exports such as electronics, machinery, textiles, agricultural products, and wooden furniture with their prominent bilateral ties. 

  • CEPA – Comprehensive Economic Partnership Agreement with UAE. This agreement eliminated the 90% of its tariffs on the trade of goods
  • EVFTA – EU Vietnam Free Trade Agreement. This helped Vietnam to expand their trade with the EU, China, and ASEAN regions.
  • They have involved a lot of digital transformation in Trade by investing in e-customs systems.
  • Adopted Green Supply Chain Practises

These are some of the strategies adopted by Vietnam for expanding their quality exports around the world by deducting the dependency with one region.

Also Read | Minimum Wage Hike Sparks Inflation and Rate Cut Speculations in Turkey

Lakshmi sh

Recent Posts

Sydney Airport Ground Staff Recruitment Begins in Mascot

The aviation sector is experiencing a massive surge in travel demand, and the highly anticipated Sydney Airport Ground Staff Recruitment…

March 7, 2026

Riyadh Food Delivery Rider Registration 2026: New Permit Rules for Expats in Al Olaya

All food delivery riders in the Balady platform are required to obtain a permit named Home Delivery Permit in Saudi…

March 7, 2026

Berlin Airport Expansion Hiring 2026: Ground Crew Jobs Opening in Brandenburg

Airport Berlin Brandenburg (BER) prepares 2026 expansion with 500,+ ground crew vacancies in Brandenburg due to growth in Terminal 3…

March 7, 2026

How Gig Workers in London Can Track Weekly Earnings Under New App Transparency Rules

London gig workers (Uber, Deliveroo, Bolt) gained earnings transparency from January 2026 under DSA/DUA Acts and EU-influenced UK guidelines, mandating…

March 7, 2026

The Great Philippine 4-Day Workweek Debate of 2026

In 2026, the Philippines sparked a national debate on the future of work when legislators put in place a four-day…

March 7, 2026

Why Margaret Atwood Says the 2026 Reading Crisis Is a Human Rights Violation

In 2026, in speeches and interviews, Margaret Atwood compares the increasing global restrictions on books and the process of literacy…

March 7, 2026

This website uses cookies.

Read More