A view of the Viet Nam-Singapore Industry Zone in southern Binh Dương Province. — File Photo

HA NOI (Biz Hub)—Singapore has become the 6th largest trading partner of Viet Nam, after China, Japan, the US, the Republic of Korea and Taiwan.— Singapore has become the 6th largest trading partner of Viet Nam, after China, Japan, the US, the Republic of Korea and Taiwan.

The Viet Nam Government Portal (VGP) quoted statistics of the Viet Nam Customs as showing that 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, two-way trade stood at US$3.53 billion, in which Viet Nam's import was $2.49 billion, down 12.9 per cent against the same period of 2012.

Viet Nam's key exports to Singapore in 2012 included computers, electronic products and components with a turnover of $300 million, up 10.7 per cent against 2011 and accounting for 12.8 per cent of the country's total export turnover to the Singapore market.

The customs agency said deficit has increased sharply over the past two years, from $1.98 billion in 2010 to $4.32 billion last year.—VNS