Singapore is the 6th largest trading partner of Viet Nam after China, Japan, the US, the Republic of Korea and Taiwan, according to the statistics of the Viet Nam Customs.
Since 2006, goods trading between the two countries has always accounted for a large proportion of Viet Nam’s total export and import value.
By the end of May, the two-way trade stood at US$3.53 billion, in which Viet Nam’s import value stood at US$2.49 billion, down 12.9% against the same period of 2012.
Key exports to Singapore in 2012 included computers, electronic products, components with the turnover of US$300 million, up 10.7% against 2011 and accounting for 12.8% total export turnover of Viet Nam to Singapore market.
The Customs agency said deficit has increased sharply over the past two years, from US$1.98 billion in 2010 to US$4.32 billion last year./.