Singapore is an important hub for global trade, there is 45-50% of total exports of Singapore is re-exports. Viet Nam’ s wood and wood products enterprises could take an opportunity to approach the retail and wholesale of this industry.

Singapore is an important hub for global trade, there is 45-50% of total exports of Singapore is re-exports. Viet Nam’ s wood and wood products enterprises could take an opportunity to approach the retail and wholesale of this industry.

In 2021, Singapore imported wood from Vietnam is 24,8 million USD; and from the world is 424,2 million USD. The main competitor of Viet Nam is Malaysia (gain 37.2% market share), China (gain 22.5% market share), Indonesia (gain 15.5% market share), Vietnam accounted for only 5.8%.

Singapore's main imported wood products are crates, boxes, wooden packaging, sawn, sliced, peeled, and construction furniture such as panels, flooring, plywood, laminated wood, caskets, and wood charcoal.

Viet Nam’s wood exports to Singapore still have a lot of potential and this is a strong commodity of Vietnam. According to the Ministry of Industry and Trade, the export of the wood has changed dramatically. Before, Viet Nam only focused on transit markets such as Taiwan, Singapore, South Korea ... to re-export to third countries, now Vietnam’s wood and wood furniture has been directly exported to 120 countries. 

Singapore importers must apply for an import permit for goods imported into Singapore before the goods can be cleared for customs. Wood products are one of the industries that do not has technical standard requirement when imported into Singapore. However, Vietnam's wood and wood product exporters need to improve their designs, product quality, after-sales services, and appropriate business strategy... to boost the export to the Singapore market in the future./.