Vietnam rose one rank to become Singapore's 5th largest aquatic product exporter for the first time last quarter, the Vietnam Trade Office in that country said.

Vietnam’s aquatic exports to Singapore reached over S$24 million (US$17.64 million) during January - March, gaining a market share of 8.58%.

Statistics from the Singaporean corporate regulatory authority showed that during the time under review, the country imported nearly S$340 million worth of aquatic products from nearly 100 countries and territories, a decrease of 5.67% from the same period in 2023.

It mainly imported shrimp, crab, crustacean, fresh fish, chilled fish, fish fillet, frozen fish, and mollusc.

The top exporters of aquatic products to Singapore during the period were Malaysia with a 13.6% market share, Norway 11.45%, Indonesia 11.13%, China 10.15%, Vietnam 8.58%, and Japan 8.34%.

Counselor Cao Xuan Thang, head of the Vietnam Trade Office in Singapore, said Singapore has continuously expanded and diversified supply sources to ensures food security, but this has also boosted competition among seafood exporters to the country.