On October 29, according to information from the Vietnam Trade Office in the Philippines (Ministry of Industry and Trade), total bilateral trade between Vietnam and the Philippines reached nearly USD 6.5 billion in the first nine months of 2024, marking an increase of over 20% compared to the same period last year.**
Of this total, export turnover surpassed USD 4.6 billion, reflecting a 20.7% rise, while imports remained close to USD 1.9 billion, similar to the previous year’s figures.
With this growth trend, it is projected that in 2024, bilateral trade between Vietnam and the Philippines will exceed USD 8 billion for the first time, reaching an estimated USD 8.5 billion, with a trade surplus of over USD 3 billion.
In terms of product categories, 20 out of 35 sectors that Vietnam exports to the Philippines reported positive growth in the first nine months of 2024.
However, some export categories showed a decline, such as seafood, which dropped by 21.2%, and animal feed and raw materials, which decreased by 15.6%.
According to the Vietnam Trade Office in the Philippines, rice remains a leading export from Vietnam to the Philippines, maintaining impressive growth. In the first nine months, Vietnam's rice exports to the Philippines totaled USD 1.98 billion.
For the last three months of the year, it is expected that the Philippines’ demand for rice imports will continue to rise sharply due to increased domestic consumption and losses in the country's end-of-year harvest caused by natural disasters.
It is evident that digitalization has become the defining trend of the modern era. Across all industries and sectors, businesses are shifting from traditional development strategies to automation and digital transformation, aiming to optimize operational efficiency and productivity.
Europe remains one of the most important and promising export markets for Vietnamese enterprises, especially following the implementation of the EU–Vietnam Free Trade Agreement (EVFTA). With a population of over 740 million and a total GDP of approximately USD 18 trillion, the region has a strong and diverse demand for imports ranging from agricultural products and processed foods to industrial goods, electronics, and textiles.
The Trump administration is planning to import eggs from Turkey and South Korea while negotiating with other countries in an effort to lower record-high prices for American consumers, officials have confirmed.
In an effort to continuously enhance our position and expand our global network, Glotrans actively participated in the PPL AGM 2025 Annual Meeting in Hong Kong from May 25 to May 28. This is a key event, providing us with valuable opportunities to enhance our expertise and develop international partnerships.
On May 18, 2025, Glotrans HCM officially entered its 13 years of operation, marking an ever-growing journey in international logistics and freight forwarding.
