Of which, rice export turnover reached 2.24 billion USD, up 59.1% over the same period in 2023, accounting for 42.9% of Vietnam's total export turnover to the Philippines market. Other export items with export turnover increasing compared to the same period in 2023 include coffee up 109.9%; pepper up 41.3%; fertilizers of all kinds up 58.7%; raw plastic materials up 68.8%; iron and steel products up 77.1%; cameras, camcorders and components up 71.2%; furniture products made from materials other than wood up 114.8%.
Rice trade promotion conference within the framework of the National Trade Promotion Program 2024 organized by the Ministry of Industry and Trade and the Vietnam Food Association at Diamond Hotel Manila, Philippines in November 2024
Vietnam's import turnover from the Philippines in the first 10 months of 2024 reached over 2.08 billion USD, down 2.5% over the same period in 2023. Some items with increased import turnover compared to the same period in 2023 include raw plastic materials up 108.9%; paper of all kinds up 26.4%; fabrics of all kinds up 30.6%; iron and steel of all kinds up 36.5%; base metals up 293%; electric wires and cables up 28.6%; auto components and spare parts up 40.2%.
The total import-export turnover between Vietnam and the Philippines in the first 10 months of 2024 reached over 7.3 billion USD, equal to 93.6% of the total import-export turnover between Vietnam and the Philippines in 2023 (reaching 7.8 billion USD). This positive result, along with the continuous increase in import-export activities between the two sides in the last two months of the year, shows that the forecast of the total import-export turnover between Vietnam and the Philippines in 2024 will exceed 8 billion USD for the first time, reaching about 8.5 billion USD, of which a trade surplus of over 3 billion USD is entirely possible.
Source: https://moit.gov.vn/tin-tuc/thi-truong-nuoc-ngoai/kim-ngach-xuat-khau-cua-viet-nam-vao-thi-truong-philippines-trong-10-thang-dau-nam-2024-tang-gan-24-so-voi-cung-ky-nam-t.html
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