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2023
Flag → Flag
Exports $1.69BRnk 15 / 201
2023
Flag → Flag
Top Product $489MValves
2023
Flag → Flag
Exports $4.97BRnk 17 / 142
2023
Flag → Flag
Top Product $1.27BRice
2023
Flag
Economic Complexity (ECI) ECI 0.64Rnk 40 / 132
2023
Flag
Economic Complexity (ECI) ECI 0.067Rnk 60 / 132
2023
Flag  
GDP$437BCURRENT US$
Rnk 33 / 195
2013-2023
Flag
GDP GROWTH54%CURRENT US$
Rnk 67 / 195
2023
Flag
 GDP$430BCURRENT US$
Rnk 34 / 195
2013-2023
Flag
GDP GROWTH101%CURRENT US$
Rnk 13 / 195
2023
Flag
GDP PC $3,805CURRENT US$
Rnk 133 / 195
2013-2023
Flag
GDP PC GROWTH36.8%CURRENT US$
Rnk 65 / 195
2023
Flag
GDP PC$4,282CURRENT US$
Rnk 128 / 196
2013-2023
Flag
GDP PC GROWTH81.5%CURRENT US$
Rnk 15 / 195

About

Philippines-Vietnam Trade: In 2023, Philippines exported $1.69B to Vietnam. The main products that Philippines exported to Vietnam were Valves ($489M), Integrated Circuits ($480M), and Refined Copper ($164M). Over the past 5 years the exports of Philippines to Vietnam have increased at an annualized rate of 5.99%, from $1.26B in 2018 to $1.69B in 2023.

In 2023, Philippines did not export any services to Vietnam.

Vietnam-Philippines Trade: In 2023, Vietnam exported $4.97B to Philippines. The main products that Vietnam exported to Philippines were Rice ($1.27B), Cement ($456M), and Broadcasting Equipment ($245M). Over the past 5 years the exports of Vietnam to Philippines have increased at an annualized rate of 4.61%,  from $3.32B in 2018 to $4.97B in 2023.

In 2023, Vietnam did not export any services to Philippines.

Comparison: In 2023,  Philippines ranked 40 in the Economic Complexity Index (ECI 0.64), and 42 in total exports ($101B). That same year, Vietnam ranked 60 in the Economic Complexity Index (ECI 0.067), and 15 in total exports ($424B).

Latest Trends

July, 2024

About

Overview In July 2024, Philippines exported $107M and imported $448M from Vietnam, resulting in a negative trade balance of $342M. Between July 2023 and July 2024 the exports of Philippines have decreased by $-17.3M (-13.9%) from $124M to $107M, while imports increased by $70M (18.5%) from $378M to $448M.

Trade In July 2024, the top exports of Philippines to Vietnam were Commodities not elsewhere specified ($70.2M), Integrated Circuits ($30.3M), Electrical Transformers ($11.3M), Refined Copper ($8.41M), and Telephones ($4.79M). In July 2024 the top imports of Philippines from Vietnam were Rice ($58.6M), Cement ($30.6M), Commodities not elsewhere specified ($21.3M), Telephones ($18M), and Non-fillet Frozen Fish ($13.6M).

Growth In July 2024, the decrease in Philippines's year-by-year exports to Vietnam was explained primarily by an decrease in product exports in Telephones ($-21.4M or -81.8%), Vinyl Chloride Polymers ($-3.19M or -78.3%), and Other Plastic Products ($-2.87M or -71.9%). In July 2024, the increase in Philippines's year-by-year imports  from Vietnam was explained primarily by an increase in product imports  in Non-fillet Frozen Fish ($9.96M or 270%), Prefabricated Buildings ($6.02M or 99.6%), and Telephones ($2.69M or 17.6%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (July 2023 - July 2024)$-17.3M(-13.9%)
IMPORT GROWTH (July 2023 - July 2024)$70M(18.5%)

This section shows exports and imports data at subnational level for Philippines. Click any date in the line plot or any product to explore the exports or imports behavior of Philippines over time.

To check Vietnam and Philippines trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore Vietnam and Philippines Data

Go to Bulk Download

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Philippines exported $1.69B to Vietnam. The main products exported from Philippines to Vietnam were Valves ($489M), Integrated Circuits ($480M), and Refined Copper ($164M). During the last 5 years the exports of Philippines to Vietnam have increased at an annualized rate of 5.99%, from $1.26B in 2018 to $1.69B in 2023.

In 2018, Vietnam exported $4.97B to Philippines. The main products exported from Vietnam to Philippines were Rice ($1.27B), Cement ($456M), and Broadcasting Equipment ($245M). During the last 5 years the exports of Vietnam to Philippines have increased at an annualized rate of 4.61%, from $3.32B in 2023 to $4.97B in 2018.

Exports from Philippines (Flag) to Vietnam (Flag) (2023)

Exports from Vietnam (Flag) to Philippines (Flag) (2023)

Market Competitiveness

Color
Philippines
Top DestinationChina$19B
Vietnam
Top DestinationUnited States$118B

This map shows whether countries import more from Philippines or Vietnam. Each country is colored based on the difference in imports they receive from Philippines and Vietnam or the difference in the growth in imports.

In 2023, countries that imported more from Philippines than Vietnam included South Korea ($3.48B), Switzerland ($2.25B), and Russia ($48.7M).

In 2023, countries that imported more from Vietnam than Philippines included United States ($118B), China ($85.7B), and Japan ($25.1B).

Difference in imports from Vietnam (Flag) and Philippines (Flag) (2023)

Comparative Advantage Philippines - Vietnam

Flow
Scale

This chart compares trade between Philippines and Vietnam by product, considering products traded by both, Philippines and Vietnam.

During 2023, Philippines had a large net trade with Vietnam in the exports of Machines ($1.26B), Metals ($184M), and Foodstuffs ($67.2M).

During 2018, Vietnam had a large net trade with Philippines in the exports of Vegetable Products ($1.53B), Machines ($1.03B), and Mineral Products ($567M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Philippines Vietnam+$760MIntegrated Circuits
Top Product Potential Vietnam Philippines+$220MTelephones

We estimate the export potential of an economy for each product and destination using an extension of the bilateral relatedness model of Jun et al. (2019).This extended gravity model considers similarities among products and geographies and explains more than 50% of the variance in future trade flows.

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Economic Complexity

Competitive Landscape

This visualization shows the product space at the HS4 level with the flags of Philippines and Vietnam. This means that a dot/product with the flag of Philippines indicates it has a comparative advantage over Vietnam. Similarly, a dot/product with the flag of Vietnam indicates it has a comparative advantage over Philippines.

Product Space of Philippines (Flag) and Vietnam (Flag) (2023)

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