diff --git a/packages/vite/src/node/ssr/ssrModuleLoader.ts b/packages/vite/src/node/ssr/ssrModuleLoader.ts
index 466039d82b2ae2..cd234876a748e6 100644
--- a/packages/vite/src/node/ssr/ssrModuleLoader.ts
+++ b/packages/vite/src/node/ssr/ssrModuleLoader.ts
@@ -28,6 +28,7 @@ type SSRModule = Record<string, any>
 
 const pendingModules = new Map<string, Promise<SSRModule>>()
 const pendingImports = new Map<string, string[]>()
+const importErrors = new WeakMap<Error, { importee: string }>()
 
 export async function ssrLoadModule(
   url: string,
@@ -131,32 +132,39 @@ async function instantiateModule(
   const pendingDeps: string[] = []
 
   const ssrImport = async (dep: string) => {
-    if (dep[0] !== '.' && dep[0] !== '/') {
-      return nodeImport(dep, mod.file!, resolveOptions)
-    }
-    // convert to rollup URL because `pendingImports`, `moduleGraph.urlToModuleMap` requires that
-    dep = unwrapId(dep)
-    if (!isCircular(dep) && !pendingImports.get(dep)?.some(isCircular)) {
-      pendingDeps.push(dep)
-      if (pendingDeps.length === 1) {
-        pendingImports.set(url, pendingDeps)
+    try {
+      if (dep[0] !== '.' && dep[0] !== '/') {
+        return await nodeImport(dep, mod.file!, resolveOptions)
       }
-      const mod = await ssrLoadModule(
-        dep,
-        server,
-        context,
-        urlStack,
-        fixStacktrace,
-      )
-      if (pendingDeps.length === 1) {
-        pendingImports.delete(url)
-      } else {
-        pendingDeps.splice(pendingDeps.indexOf(dep), 1)
+      // convert to rollup URL because `pendingImports`, `moduleGraph.urlToModuleMap` requires that
+      dep = unwrapId(dep)
+      if (!isCircular(dep) && !pendingImports.get(dep)?.some(isCircular)) {
+        pendingDeps.push(dep)
+        if (pendingDeps.length === 1) {
+          pendingImports.set(url, pendingDeps)
+        }
+        const mod = await ssrLoadModule(
+          dep,
+          server,
+          context,
+          urlStack,
+          fixStacktrace,
+        )
+        if (pendingDeps.length === 1) {
+          pendingImports.delete(url)
+        } else {
+          pendingDeps.splice(pendingDeps.indexOf(dep), 1)
+        }
+        // return local module to avoid race condition #5470
+        return mod
       }
-      // return local module to avoid race condition #5470
-      return mod
+      return moduleGraph.urlToModuleMap.get(dep)?.ssrModule
+    } catch (err) {
+      // tell external error handler which mod was imported with error
+      importErrors.set(err, { importee: dep })
+
+      throw err
     }
-    return moduleGraph.urlToModuleMap.get(dep)?.ssrModule
   }
 
   const ssrDynamicImport = (dep: string) => {
@@ -204,6 +212,7 @@ async function instantiateModule(
     )
   } catch (e) {
     mod.ssrError = e
+    const errorData = importErrors.get(e)
 
     if (e.stack && fixStacktrace) {
       ssrFixStacktrace(e, moduleGraph)
@@ -212,7 +221,10 @@ async function instantiateModule(
     server.config.logger.error(
       colors.red(
         `Error when evaluating SSR module ${url}:` +
-          (e.importee ? ` failed to import "${e.importee}"\n` : '\n'),
+          (errorData?.importee
+            ? ` failed to import "${errorData.importee}"`
+            : '') +
+          `\n|- ${e.stack}\n`,
       ),
       {
         timestamp: true,
@@ -221,7 +233,6 @@ async function instantiateModule(
       },
     )
 
-    delete e.importee
     throw e
   }
 
@@ -262,15 +273,8 @@ async function nodeImport(
     }
   }
 
-  try {
-    const mod = await dynamicImport(url)
-    return proxyESM(mod)
-  } catch (err) {
-    // tell external error handler which mod was imported with error
-    err.importee = id
-
-    throw err
-  }
+  const mod = await dynamicImport(url)
+  return proxyESM(mod)
 }
 
 // rollup-style default import interop for cjs