Vietnam is still holding the top position in rice export to the Philippines market.

The Vietnam Trade Office in the Philippines cited statistics from the Rice Import Licensing Authority under the Philippine Department of Agriculture , saying that as of the end of October 2024, the Philippines had imported a total of 3.68 million tons of rice.

This figure is much higher than the same period in 2023 (in the 10 months of the same period in 2023, the Philippines imported 2.84 tons of rice), and surpasses the total rice import volume of the Philippines in 2023 - according to calculations by the Rice Import Licensing Authority under the Philippine Department of Agriculture, the total rice import volume of the Philippines in 2023 is 3.61 million tons. From the beginning of the year to October 24 alone, the Philippines imported 380,541.58 tons of rice, much higher than the figure of 163,217.40 tons of rice imported in October 2023.

Vietnam remains the leading rice exporter to the Philippine market. As of the end of October 2024, the Philippines imported 2.91 million tons of rice from Vietnam, accounting for more than 79% of the total 3.68 million tons of rice imported by the Philippines. Thailand ranked second with 457,673.28 tons, accounting for 12.4%. Pakistan followed with 162,369.48 tons, accounting for 4.5%, and Myanmar and India with 114,766.75 tons and 22,039.04 tons, respectively. With this growth trend, the total rice import volume of the Philippines in 2024 is forecast to be over 4 million tons, possibly reaching 4.5 million tons.

In the first 9 months of 2024, the total two-way import and export turnover between Vietnam and the Philippines reached nearly 6.5 billion USD, an increase of over 20% over the same period in 2023. Of which, exports reached over 4.6 billion USD, an increase of 20.7% over the same period in 2023 and imports reached nearly 1.9 billion USD, equivalent to the same period in 2023. With the current growth momentum, it is forecasted that the total import and 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 the trade surplus will be over 3 billion USD.

There are currently about 35 Vietnamese goods/industries exported to the Philippine market. In the first 9 months of 2024, 20 Vietnamese goods/industries exported to the Philippine market had positive export growth compared to the same period in 2023, including goods with high growth rates such as rice up 53.3%; coffee up 120.7%; pepper up 37.6%; fertilizers of all kinds up 21.6%; iron and steel products up 71.2%; phones of all kinds and components up 42.8%; cameras, camcorders and components up 64.6%.

In addition, many items also had export growth rates decrease compared to the same period in 2023, such as seafood down 21.2%; animal feed and raw materials down 15.6%; paper and paper products down 19.3%, ceramic products down 17.2%; clinker and cement down 15.7%.

Source: https://vov.vn/kinh-te/viet-nam-van-giu-vung-ngoi-dau-xuat-khau-gao-vao-thi-truong-philippines-post1132566.vov