Singapore's apparel imports from Vietnam hit $68 million in FY 2023

Singapore's apparel imports from Vietnam hit $68 million in FY 2023
Vietnam is one of the biggest exporter textiles globally. Over the years, Singapore has emerged as an important export destination for Vietnam. According to the Singapore export data reports, Singapore exported goods worth over $4.2 billion to Vietnam. The top exported goods include milk products, animals/vegetable fats & oils, cereals, animal fodder, mineral oils, chemicals and pharmaceutical products. 

Petroleum products were the top imports made by Vietnam from Singapore with the overall export value of $1.44 billion in FY 2022. Also, essential oils were the second most imported products by Vietnam from Singapore $403 million during last year.


In the recent months, Singapore had made the maximum amount of apparel import shipments. The latest Singapore import export data suggests that Singapore made record textiles imports from Vietnam with a record value of $68 million during this year. Whereas, in 2022, $125 million worth of textiles exports were made by Vietnam to Singapore.


The Idea L Pack Vn Trading and Ad Unique Apparel Garment are the top garments export companies from Vietnam. According to the Vietnam export data reports, these garment export companies contributed around 70% share in Vietnam’s overall exports. While other major garments companies were Intrend Garment Production Company, Tien Giang Bodynuts, and United Sweethearts Vietnam Garment.


In terms of exports, Singapore's textiles exports are mainly to Malaysia, Japan, Vietnam, Turkey and Indonesia. As per Singapore customs data, the country’s textiles exports totaled to be $450 thousand in the fiscal year 2022. Indonesia was responsible for 40% share in the Singapore textiles exports market. Whereas, Malaysia contributed to over 22% share of Singapore's textiles exports. Singapore is currently investing to expand its textiles exports.


On the other hand, Singapore import data shows that around over $4.3 billion worth of goods were imported from Vietnam in FY 2022. The top Singapore imports were fish products, fruits, cashew nuts, coffee, rice, petroleum, chemical, crude oil and plastics products. 


 Computers & its accessories were the most exported goods from Vietnam with worth around $1.8 billion. Textiles, garments, footwear, and glassware were among the top exports from Vietnam to Singapore in terms of exports value. 


Apart from Vietnam, Singapore's other major countries for textile imports were China, Indonesia, Italy, Malaysia, United States, Bangladesh and India. China was the top textile exporter to Singapore with exports worth $4 billion during the last year. Also, Indonesia ($365 M), Malaysia ($230 M), Vietnam ($135 M) and France ($196 M).


The import export business owners from Singapore can now rely on the global market intelligence reports to spot genuine buyers from the international market. Through this platform, you can identify your product demand globally, make better decisions on quantity evaluation, pricing strategy, and reach genuine buyers for your products.


It is the most cost effective lead generation tool that could double your sales and help you make better international market presence. Exim Trade Data is the most trusted global import export data provider company offering 200+ countries Exim reports with full coverage. Here, you will also get your potential buyers contact details so that you can increase your global revenue.

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