Singapore-Viet Nam Bilateral Trade Analysis 2023
Complete trade statistics: $21.30B total volume •Singapore surplus: $11.54B
Singapore → Viet Nam
$16.42B
Exports (2023)
Viet Nam → Singapore
$4.88B
Imports (2023)
Trade Balance
$11.54B
Surplus for Singapore
Total Trade
$21.30B
Combined Volume
Trade Flow Visualization
Direct trade relationship between Singapore and Viet Nam. Green line shows exports from Singapore, red line shows imports.
Detailed Product Trade Analysis
Comprehensive breakdown of trade flows by product category, revealing the specialized nature of the Singapore-Viet Nam commercial relationship and competitive positioning in global markets.
Singapore → Viet Nam Exports
Export Market Intelligence
🎯 Strategic Export Focus
Singapore's export portfolio to Viet Nam demonstrates strong diversification across multiple sectors, with electronic integrated circuits: processors and controllers, whether or not combined with memories, converters, logic circuits, amplifiers, clock and timing circuits, or other circuits representing a key competitive advantage in this bilateral market.
Viet Nam → Singapore Imports
Import Dependency Profile
📦 Import Strategy Analysis
Singapore's import pattern from Viet Nam reveals significant dependencyin glass: articles n.e.c. in chapter 70, highlighting complementary economic structures and potential supply chain optimization opportunities.
Competitive Trade Position Analysis
Market Leadership
Singapore demonstrates competitive strength in exportingelectronic integrated circuits: processors and controllers, whether or not combined with memories, converters, logic circuits, amplifiers, clock and timing circuits, or other circuits to Viet Nam, leveraging comparative advantages.
Trade Complementarity
The bilateral relationship showsmoderatecomplementarity, with each country specializing in different sectors.
Growth Potential
The $21.30B trade volume indicates substantial economic integration with room for expansion in emerging sectors.
Executive Summary: Singapore-Viet Nam Trade Relationship
Key Trade Highlights 2023
- Total Trade Volume: $21.30 billionrepresenting a significant bilateral economic relationship
- Trade Balance: Singapore maintains a surplus of $11.54 billion
- Export Focus: Singapore's primary exports include electronic integrated circuits: processors and controllers, whether or not combined with memories, converters, logic circuits, amplifiers, clock and timing circuits, or other circuits, petroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils, electronic integrated circuits: n.e.c. in heading no. 8542
- Import Dependencies: Key imports from Viet Nam include glass: articles n.e.c. in chapter 70, telephones for cellular networks or for other wireless networks, machinery: parts and accessories (other than covers, carrying cases and the like) of the machines of heading no. 8471
Strategic Trade Indicators
📈 Market Position: This bilateral trade relationship represents a significant global trade partnerships, with complementary economic strengths driving sustained commercial exchange.
Historical Trade Analysis & Economic Context
Trade Evolution Timeline
2019-2023: Recent Trends
Current trade volume of $21.30B represents the culmination of evolving bilateral commercial relationships, influenced by global supply chain shifts and changing economic priorities.
2015-2019: Growth Period
Sustained expansion in bilateral trade driven by complementary economic structures, with Singapore leveraging its comparative advantages in electronic integrated circuits: processors and controllers, whether or not combined with memories, converters, logic circuits, amplifiers, clock and timing circuits, or other circuits.
2010-2015: Foundation Building
Establishment of modern trade frameworks and reduction of barriers, facilitating increased commercial exchange and investment flows between the two economies.
Pre-2010: Early Development
Initial stages of bilateral trade relationship development, with focus on traditional export-import patterns and gradual market integration.
Key Economic Drivers
Comparative Advantage
Singapore's specialization in electronic integrated circuits: processors and controllers, whether or not combined with memories, converters, logic circuits, amplifiers, clock and timing circuits, or other circuitscomplements Viet Nam's demand patterns, creating natural trade synergies.
Supply Chain Integration
Deep integration in global value chains has strengthened bilateral linkages, particularly in glass: articles n.e.c. in chapter 70.
Market Access & Trade Policy
Favorable trade agreements and market access conditions have facilitated the growth of this $21.30B bilateral relationship.
Trade Pattern Insights
Trade Relationship Outlook
The $21.30B bilateral trade volume positions this relationship for continued growth, supported by technological advancement, evolving consumer preferences, and strengthening economic ties. Key opportunities lie in expanding cooperation in emerging sectors while managing potential supply chain vulnerabilities.
Economic Impact & Strategic Outlook
Economic Impact Assessment
Trade Volume Impact
The $21.30 billion bilateral trade volume represents a significant economic factorfor both economies.
Industrial Integration
Trade flows in electronic integrated circuits: processors and controllers, whether or not combined with memories, converters, logic circuits, amplifiers, clock and timing circuits, or other circuits and glass: articles n.e.c. in chapter 70 demonstrate deep industrial linkages and supply chain integration.
Trade Balance Effects
Singapore's trade surplus of $11.54 billion strengthens its overall economic position in this bilateral relationship.
Strategic Future Outlook
🚀Growth Opportunities
⚠️Risk Factors
🎯Strategic Recommendations
- Strengthen cooperation in high-value sectors beyond current trade patterns
- Develop alternative supply chains to reduce dependency risks
- Explore joint ventures in emerging technology sectors
- Enhance trade facilitation and reduce transaction costs
Market Position & Competitive Summary
The bilateral trade relationship between Singapore and Viet Nam represents a total trade volume of $21.30 billion in 2023. This partnership demonstrates a favorable trade balance for Singapore, with exports exceeding importsby $11.54 billion.
Export Strengths
Singapore's exports to Viet Nam total $16.42 billion, with competitive advantages in electronic integrated circuits: processors and controllers, whether or not combined with memories, converters, logic circuits, amplifiers, clock and timing circuits, or other circuits, representing $4.97B or30.2% of bilateral exports.
Import Dependencies
Imports from Viet Nam amount to $4.88 billion, highlighting economic interdependence in glass: articles n.e.c. in chapter 70, with Glass: articles n.e.c. in chapter 70 comprising7.6% of total imports.
The trade relationship reflects broader economic patterns and comparative advantages. The trade surplus indicates Singapore's competitive position in this bilateral relationship. This partnership is characterized by complementary trade flows, with each country specializing in different product categories based on their respective economic strengths, industrial capabilities, and position in global value chains.
Download Bilateral Trade Data
Access detailed trade data between Singapore and Viet Nam in multiple formats.
Data Source: CEPII BACI (Base pour l'Analyse du Commerce International) • Last Updated: January 2025 • Coverage: 1995-2023