By the end of November 2024, total import-export turnover between Vietnam and the Philippines officially exceeded $8 billion, According to the Ministry of Industry and Trade.

Specifically, Vietnam's export turnover to the Philippines in the period reached $5.758 billion, marking a 22.8% increase compared to the same period in 2023. Meanwhile, its import from the latter totaled nearly $2.3 billion, a 5% decrease year-on-year.

The Vietnam Trade Office in the Philippines forecasts that the total import-export turnover between the two countries in 2024 will reach a record of approximately $8.5 billion, with an estimated trade surplus of more than $3.47 billion in favor of Vietnam

This impressive growth comes as Vietnam seeks new directions for goods exports, helping to alleviate difficulties and reduce pressure on domestic manufacturing businesses.

Notably, the largest contribution to the remarkable growth in Vietnam's export turnover to the Philippines in the first 11 months of 2024 has been made by rice, with nearly $2.5 billion, a 57.2% increase compared to the same period in 2023.