Vietnam-Philippines trade likely to exceed 8 billion USD for first time
With the current rising trend, trade between Vietnam and the Philippines is likely to exceed 8 billion USD for the first time to hit about 8.5 billion USD in 2024, with Vietnam’s surplus of more than 3 billion USD, according to the Vietnamese Trade Office in the Philippines.
Hanoi (VNA) – With the current rising trend, trade between Vietnam and the Philippines is likely to exceed 8 billion USD for the first time to hit about 8.5 billion USD in 2024, with Vietnam’s surplus of more than 3 billion USD, according to the Vietnamese Trade Office in the Philippines.
The office said that in the first nine months of this year, import-export turnover between the two countries neared 6.5 billion USD, a rise of over 20% year on year, with Vietnam’s exports increasing 20.7%.
Among the 35 products Vietnam exported to the Philippines, 20 recorded a growth in the first nine months of this year, including rice at 53.3%, coffee 120.7%, peppercorn 37.6%, fertilisers 21.6%, steel products 71.2%, telephones and components 42.8%, and cameras, camcorders and components 64.6%.
Meanwhile, products with export decrease were aquatic products at 21.2%, animal feed and raw materials 15.6%, paper and paper products 19.3%, ceramic products 17.2%, and clinker and cement 15.7%.
Particularly, rice - Vietnam's main export item to the Philippine market - has maintained its high growth momentum, hitting 1.98 billion USD in the first nine months of this year, accounting for 42.86% of country's total export turnover to the Philippines in the period.
ꦫ In the remaining months of 2024, the Philippines' rice import is forecast to continue increasing due to stronger domestic consumption demand while the Philippines' year-end crop has been damaged by natural disasters./.
Vice President Vo Thi Anh Xuan sent a message of sympathy to her Philippine counterpart Sara Duterte on October 28 over the aftermath of Typhoon Trami, which has caused significant losses of life and property in the country's northwestern region.
Vietnam posted a trade surplus of 2.41 billion USD with the Philippines in the first eight months of 2024, according to the General Department of Vietnam Customs.
Minister of National Defence General Phan Van Giang and his Philippine counterpart Gilberto Teodoro have agreed to promote the bilateral defence ties in a more practical and efficient manner during their talks in the Philippines.
The probe, initiated on June 11 following a petition by the US Coalition for Fair Trade in Hardwood Plywood, targets products classified under HS Code 4412 and 9403 imported from China, Indonesia and Vietnam.
Sun PhuQuoc Airways was born as a perfect piece in Sun Group’s strategic vision to build a premium ecosystem of tourism, entertainment, real estate, and aviation. With a pioneering ambition, Sun PhuQuoc Airways is not just an airline, but a symbol of connection – bringing the world to Phu Quoc and taking Phu Quoc to the world.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
According to NordCham Vietnam Chairman Thue Quist Thomasen, the Vietnamese Government’s commitment to achieving net-zero emissions by 2050 is both a challenge and an opportunity for businesses to contribute to green and sustainable growth.
