ANTD.VN - Mr. Phung Van Thanh - Commercial Counselor, Embassy of Vietnam in the Philippines said that there are 35 Vietnamese products/industries currently exported to the Philippines.
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Philippines is a potential rice import market of Vietnam. |
In which, important products/industries are: agricultural products, seafood, confectionery, animal feed, cement, iron and steel, construction materials, textiles, machinery, equipment...
Of which, agricultural products, especially rice, always account for a large proportion in Vietnam's export structure to the Philippines. In recent years, Vietnam has had a trade surplus with the Philippine market.
Total import-export turnover between Vietnam and the Philippines in 2023 will reach 7.8 billion USD, equivalent to 2022, of which exports will reach 5.15 billion USD, up 1% compared to 2022, and imports will reach 2.65 billion USD, down 2% compared to 2022.
Trade surplus with the Philippine market in 2023 will reach 2.5 billion USD, up 4.2% compared to 2022.
Of which, rice reached 1.75 billion USD, an increase of 17.6% compared to 2022; clinker and cement reached 358.3 million USD; machinery, equipment, tools and spare parts reached 352 million USD...
Vietnam's main import items from the Philippine market include computers, electronic products and components (1.63 billion USD in 2023); machinery, equipment, tools and spare parts (277.7 million USD in 2023); base metals (174.2 million USD in 2023); electricity and electric cables (88.9 million USD in 2023); seafood (40.4 million USD in 2023); auto parts and components (20 million USD in 2023); confectionery, animal feed, etc.
According to Mr. Phung Van Thanh, although Vietnam is an agricultural producing country, including rice, for many years domestic production has not been able to meet consumption demand.
Annually, depending on farming conditions, the Philippines' domestic production ranges from 19 to 20 million tons of paddy rice, equivalent to over 12.5 million tons of rice.
Since 2019, when the Philippines issued and implemented the law allowing free import and export of rice and trade, removing quotas and restrictions on rice imports, Vietnam has surpassed Thailand to become an important supplier, occupying the No. 1 position in rice exports to this market.
In 2022, Vietnamese rice entering the Philippine market accounted for nearly 45% in volume and 43% in turnover of Vietnam's total rice export volume and turnover.
For the Philippines, Vietnamese rice is not only a regular import item but also an important item to ensure food security.
Currently, rice imported from Vietnam accounts for more than 80% (over 83% in 2022) of the country's total rice imports.
Vietnamese rice has advantages in terms of grade, quality, and affordable price, so it is competitive, suitable for tastes, and can meet the diverse needs of consumers, especially the large population with low and middle incomes.
Vietnam also has a stable supply, geographical distance, cost and convenience in transportation, trust and long-term customer relationships.
According to Mr. Phung Van Thanh, in addition to rice and the main export products mentioned above, Vietnam also has a lot of potential to export to this market.
The Philippine market has high demand for fresh agricultural products (fruits, meat)...
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