Vietnam’s export situation to the Philippines
Export value
The Philippines is considered one of Viet Nam’s important export markets. Viet Nam’s exports to the Philippines grew relatively steadily over the period 2015–2024. In 2015, Viet Nam’s exports to the Philippines reached USD 2.02 billion, and this figure more than tripled to USD 6.19 billion in 2024, with an average growth rate of 11.1% over the period (higher than the average growth rate of Viet Nam’s global exports over the same period—10.6%). Notably, amid the global trade downturn in 2023, Viet Nam’s exports to the Philippines still increased by nearly 1%, while Viet Nam’s overall exports to the world declined by almost 5%. This not only indicates the Philippines’ relatively stable consumption demand but also, to some extent, reflects the suitability and competitiveness of Vietnamese products in this market. However, in 2025, Viet Nam’s export value to the Philippines fell by 12.8% to USD 5.4 billion. This decline was mainly related to the Philippines’ rice import restrictions and possible bans in the final months of the year, which directly affected rice - Viet Nam’s only billion-dollar export item and a key pillar of its exports to this market.
Despite its strong growth, Viet Nam’s export value to the Philippines remains relatively modest and has not yet fully matched the potential for bilateral cooperation. In 2025, exports to the Philippines accounted for only 1.13% of Viet Nam’s total exports, while the Philippines’ imports from Viet Nam represented only around 414% of the country’s total import value. This suggests there is still substantial room to deepen trade with the Philippines, and Vietnamese goods are expected to have significant opportunities to expand market share in the coming period.
Table 1: Viet Nam's exports to the Philippines during the period 2015-2025
|
Year |
Viet Nam's export value to the Philippines (billion USD) |
Viet Nam - Philippines export growth rate |
Viet Nam's global export growth rate |
|
2015 |
2.02 |
-12.7% |
7.9% |
|
2016 |
2.22 |
10.1% |
9.0% |
|
2017 |
2.83 |
27.6% |
21.8% |
|
2018 |
3.46 |
22.3% |
13.3% |
|
2019 |
3.73 |
7.8% |
8.6% |
|
2020 |
3.56 |
-4.6% |
6.4% |
|
2021 |
4.58 |
28.5% |
19.3% |
|
2022 |
5.11 |
11.5% |
10.5% |
|
2023 |
5.15 |
0.8% |
-4.8% |
|
2024 |
6.19 |
20.2% |
14.4% |
|
2025 |
5.40 |
-12.8% |
17% |
Source: ITC Trade Map and General Department of Viet Nam Customs, 2026
Major export products and market share
In 2025, Viet Nam’s key exports to the Philippines mainly included cereals, electrical and mechanical machinery and equipment, salt, cement, seafood, furniture, and other products (see Table 6).
Among these product groups, Viet Nam ranked among the top five suppliers to the Philippines in 6 out of 10 categories. Notably, several Vietnamese agricultural products and primary commodities accounted for a significant share of the Philippines’ total import value in their respective categories, such as cereals (36.6%), salt and cement (45.9%), coffee and spices (57.3%), and fresh seafood (19.1%).
However, in industrial product groups such as electrical and mechanical machinery and equipment, transport equipment, and plastics, Viet Nam’s market share remains relatively limited. This is mainly due to intense competition from major suppliers such as China, Japan, the Republic of Korea, and the United States—countries with stronger advantages in technology, production scale, product quality, and the ability to build efficient supply chains.
Table 2: Top 10 products Viet Nam exported the most to the Philippines in 2025
|
No.
|
Product description |
Value (USD million) |
Share of the Philippines’ total imports of this item |
Top 5 suppliers from which the Philippines imports this item |
|
1 |
Chapter 10: Cereals |
1,526.8 |
36.6% |
Viet Nam, Australia, US, Canada, Brazil |
|
2 |
Chapter 85: Electrical machinery and equipment and parts thereof; sound recorders and reproducers, television image and sound recorders and reproducers, and parts and accessories of such articles |
1,178.2 |
3.5% |
China, Republic of Korea, Japan, Taiwan (China), US |
|
3 |
Chapter 25: Salt; sulphur; earths and stone; plastering materials, lime and cement |
308.3 |
45.9% |
Viet Nam, China, Indonesia, Australia, Republic of Korea |
|
4 |
Chapter 87: Vehicles other than railway or tramway rollingstock, and parts and accessories thereof |
295.9 |
2.8% |
Singapore, Thailand, China, Japan, India |
|
5 |
Chapter 84: Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof |
269.2 |
2.3% |
China, Japan, Hong Kong (China), Thailand, US |
|
6 |
Chapter 09: Coffee, tea, maté and spices |
203.3 |
57.3% |
Viet Nam, Indonesia, Malaysia, China, Poland |
|
7 |
Chapter 21: Miscellaneous edible preparations |
178.9 |
8.8% |
Indonesia, Singapore, China, Viet Nam, Thailand |
|
8 |
Chapter 64: Footwear, gaiters and the like; parts of such articles |
167.7 |
26.8% |
China, Viet Nam, Indonesia, Italy, India |
|
9 |
Chapter 03: Fish and crustaceans, molluscs and other aquatic invertebrates |
157.8 |
19.1% |
China, Viet Nam, Papua New Guinea, Chile, Japan |
|
10 |
Chapter 39: Plastics and articles thereof |
146.9 |
2.9% |
China, Japan, Thailand, Malaysia, Republic of Korea |
Source: ITC Trade Map, 2026
Source: Center for WTO and International Trade - VCCI
