According to data from the Accounting and Corporate Regulatory Authority (ACRA) in 2024, the island nation imports seafood from nearly 100 countries and territories, with a total value of 1.17 billion SGD, a decrease of 2.58% compared to the same period in 2023.
Of this, the total value of Vietnam's seafood exports to Singapore reached nearly 113.37 million SGD, up 4.99%, accounting for 9.68% of the market share.
Vietnam's key products in this market include frozen fillet fish (accounting for 30.30%) and processed fish (accounting for 18.52%). Notably, the mollusk seafood category (HS0307) recorded an impressive growth of 117.92%.
Commercial Counselor and Head of the Vietnam Trade Office in Singapore Cao Xuan Thang affirmed that Vietnam's seafood not only maintains an important position but also has great potential for further growth if the focus is placed on improving product quality.
According to the Vietnam Trade Office in Singapore, Singapore's total rice import turnover in 2024 reached over 456.2 million SGD, an increase of 10.73% compared to 2023. Among them, Vietnam ranked third with an export turnover of 128.9 million SGD, accounting for 28.25% of the market share.
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| Rice is loaded for export at Saigon Port. (Photo: VNA) |
Vietnam's rice groups have seen strong growth, such as glutinous rice (reaching 14.25 million SGD, up 4.6 times), aromatic rice (milled or husked rice) (with a turnover of 44.89 million SGD, up 65.73%), and broken rice (with a turnover of 2.6 million SGD, up 113.63%).
Thang emphasised that Vietnamese enterprises need to focus more on brand promotion, improving product quality, and leveraging Singapore's role as a transit hub to expand their market globally.
