During a meeting with Philippine Ambassador to Vietnam Meynardo Los Banos Montealegre, General Secretary To Lam emphasized the need to promote connectivity and strive to bring bilateral trade turnover to 10 billion USD. Photo: VNA

1. Import-export turnover between Vietnam and the Philippines in the first quarter of 2025

According to the latest statistics released by the Import-Export Department - Ministry of Industry and Trade, Vietnam's export turnover to the Philippines market in March 2025 has begun to show signs of improvement, reaching 554.513 million USD, an increase of 25.3% compared to February 2025 (reaching 442.631 million USD).

However, Vietnam's total export turnover to the Philippine market in the first quarter of 2025 tends to decrease slightly compared to the same period in 2024. Specifically, by the end of March (end of the first quarter) of 2025, Vietnam's export turnover to the Philippine market reached 1.402 billion USD, down 3.8% compared to the same period in 2024.

Meanwhile, Vietnam's imports from the Philippine market in March 2025 reached 220.286 million USD, down 5.2% compared to February 2025 (reaching 232.450 million USD). Vietnam's total import turnover from the Philippine market up to the end of March 2025 (first quarter of 2025) was 672.179 million USD, down 4.6% compared to the same period in 2024.

Thus, the total import-export turnover between Vietnam and the Philippines by the end of March 2025 (first quarter of 2025) reached 2.074 billion USD.

2. Positive highlights in the trade picture between Vietnam and the Philippines

In the import-export picture of the first quarter of 2025 between Vietnam and the Philippines, there are many positive bright spots besides the gray areas.

The first bright spot is the good growth in export turnover of some agricultural product groups compared to the same period last year such as cashew nuts increased by 35.8%, coffee increased by 47%, pepper increased by 39.6% compared to the same period in 2024.

Next, the second bright spot is the good growth of industrial and processed goods compared to the same period last year, including groups of goods in the list of key export items of Vietnam such as textiles and garments up 30.9%, phones of all kinds and components up 67.3%, means of transport and spare parts up 51.8% over the same period in 2024.

In addition, there are some product groups with impressive growth such as plastic products increased by 51.2%, fibers and textile yarns of all kinds increased by 30%, textile, garment, leather and footwear materials increased by 132.8%, ceramic and porcelain products increased by 325.4%, glass and glass products increased by 371.4%, interior products made from materials other than wood increased by 157.1% compared to the same period in 2024.

The third bright spot is that the business communities of the two countries have been more proactive in exploring, researching, evaluating potential and penetrating the market.

One of the major challenges for Vietnamese products and goods when entering the Philippine market is the ideological subconscious of the Filipino people towards products and goods produced by Vietnam. The Filipino people still highly appreciate and favor products and goods imported from Korea, Japan, the US, Europe... and still have many "concerns" about not really trusting, even having incorrect and low perceptions and assessments about the manufacturing industry as well as the designs and quality of products and goods produced by Vietnam, as well as the potential and reputation of Vietnamese enterprises.

For Vietnamese enterprises, in the past, due to many reasons, including subconscious ideological reasons, the domestic business community has not properly assessed the potential and has not really paid attention to the Philippine market. For many years, Vietnam's main export products to the Philippine market have been agricultural products, especially rice, while manufactured, processed, industrial and high-tech products have been very limited.

Due to ideological subconsciousness, there were times when the business communities of the two countries did not really appreciate and did not properly evaluate the market potential and trade potential, and that untying would help promote trade and increase import and export turnover between the two countries.

Realizing that, over the past time, the Vietnam Trade Office in the Philippines has always made proactive efforts, through fairs, exhibitions, trade weeks, trade promotion programs, conferences, seminars and appropriate events, to carry out propaganda, information, introduction and promotion of products, goods, images of the country and people of Vietnam, market potential, trade potential of the two countries to friends, partners, customers and people of the Philippines, as well as information, introduction of the potential of the Philippine market to Vietnamese enterprises, gradually encouraging and motivating the business communities of the two countries to proactively seek information, research, explore potential and exploit each other's markets.

Image of booth promoting and introducing Vietnamese products by the Vietnam Trade Office in the Philippines

In June 2024, for the first time, a record was set when nearly 70 businessmen, representing about 50 enterprises and organizations, participated in a delegation organized by the Vietnam Trade Office in the Philippines to Vietnam to study and research the market and attend the Vietnam International Sourcing Expo organized by the Ministry of Industry and Trade in Ho Chi Minh City to seek cooperation opportunities with domestic goods suppliers. After witnessing the unexpected development of Vietnam as well as products and goods produced in Vietnam, the delegates had their own assessments, perceptions, compliments and congratulations for the success of the Vietnamese economy.

Image of Philippine business delegation attending Vietnam International Sourcing Expo in June 2024

Then, in March and April 2025, the Vietnam Trade Office in the Philippines successfully organized a delegation of nearly 40 people with representatives from the Philippine Department of Agriculture and representatives from nearly 20 Philippine enterprises to Vietnam to study the market, seek cooperation opportunities in the agricultural sector, and participate in the 34th Vietnam International Trade Fair - Vietnam Expo under the Trade Promotion Program chaired by the Ministry of Industry and Trade and organized by Vinexad Advertising and Trade Fair Joint Stock Company in Hanoi to seek opportunities for trade cooperation with domestic enterprises.

Image of a Philippine business delegation visiting Vietnam to explore the market and attend Vietnam Expo, April 2025 in Hanoi

In addition, many other Philippine business delegations, individuals and organizations, based on information and support from the Vietnam Trade Office in the Philippines, have proactively come to Vietnam to learn about the market, search for and meet partners and suppliers of products from Vietnam.

It can be seen that the shift of more attention of Philippine enterprises and partners to the Vietnamese market, to Vietnamese products and goods is a very positive signal for Vietnamese export enterprises in the context of Vietnamese exports facing difficulties in some major export markets, key export markets.

On the other hand, through information and invitations from the Vietnam Trade Office in the Philippines, many domestic enterprises in all industries have been active and proactive in sending company profiles, product catalogs, sending goods, sample products or sending representatives to learn and research the market, participating with the Trade Office in many fairs, exhibitions, weeks, seminars to introduce products and market potential in the Philippines.

Furthermore, many businesses have proactively participated in their own booths to display, promote and introduce products and goods at many fairs and exhibitions in the Philippines such as construction exhibitions, food processing and baking exhibitions, packaging exhibitions, exhibitions of security and safety products and services and household electrical products, food and beverage fairs, shopping and culinary festivals, goods weeks, etc.

This not only helps spread information about products and goods produced in Vietnam, trade potential but also the image of the country and people of Vietnam, helping Filipinos to have more access and better understanding of Vietnam, and about products, goods and services produced and supplied by Vietnamese enterprises. That will create more motivation for purchasing enterprises, importers and distributors of Vietnamese products and goods.

Images of some booths of Vietnamese enterprises at some exhibitions and fairs in the Philippines

Fourth bright spot, Vingroup's products and services have created and gradually affirmed a new position for Vietnamese products, goods and services in the Philippine market, contributing to increasing export turnover, building the image and reputation of Vietnamese products in the Philippine market.

At the end of 2022 and the beginning of 2023, Vingroup Corporation, although having orientations and goals to develop and exploit foreign markets, only focused on a number of key markets, and in ASEAN mainly Indonesia and Thailand, with no plans for the Philippine market.

There were even times when the Vietnamese Trade Office in the Philippines introduced partners but did not achieve results because Vingroup did not set a goal of developing the Philippine market.

However, from market information and assessments of market potential provided by the Vietnam Trade Office in the Philippines to representatives of Vingroup, Vingroup finally changed its target to focus on and successfully exploited the Philippine market.

From the first working sessions between Vingroup Corporation and Philippine agencies, and from the first Vinfast showrooms opened in the Philippine market thanks to the support and introduction of the Vietnam Trade Office in the Philippines to introduce and promote Vinfast electric vehicle products, Vinfast has now signed contracts to develop nearly 60 dealerships in the Philippine market.

Images at the launching ceremony of Vinfast's VF3 car line at Vinfast's first showroom in the Philippines introduced by the Vietnam Trade Office in the Philippines

In addition, the first cargo ship carrying Vinfast cars to the Philippines, due to improper implementation of some import-export and transportation procedures, was blocked by Philippine Customs and not allowed to unload the goods, affecting Vinfast's plans and progress in the Philippine market.

At the same time, Vinfast is also at risk of being fined a large amount of money by the Philippine Customs according to regulations. In this situation, the Vietnam Trade Office in the Philippines, based on the working relationship, supported the connection and arranged a meeting so that Vinfast could have the opportunity to work, listen and directly explain the related contents.

After the meeting, under the direct guidance of the Philippine Customs Authority, the first shipment of Vinfast to the Philippine market was cleared. Up to now, the transfer of Vinfast goods to the Philippine market has been guided and directed by the Customs Authority to ensure smooth shipments of high-tech industrial products, which are the pride of Vietnam in the Philippine market.

Photo of the working session between Vinfast representative and the leaders of the Philippine Customs Agency, organized by the Vietnam Trade Office in the Philippines

Not only stopping at exporting cars, Vingroup has also gone one step further by researching to bring Vinfast car taxi service to the Philippine market. The first batch of Vinfast taxis has been brought to the Philippines to prepare for the announcement events, the launching ceremony of SM Green taxi service in the Philippines in 2025. Along with that, Vingroup Corporation will invest in a system of charging stations in the Philippines to serve its car lines.

The presence of Vinfast cars, SM Green Taxi service and Vingroup's electric charging stations has created a buzz, helping to affirm the new position of Vietnamese products, goods and services in the Philippine market. At the same time, it has contributed to promoting increased export turnover and the enrichment of trade relations between the two countries.

Fifth bright spot, Vietnam Airlines' direct flights mark a positive change, contributing to promoting trade relations between the two countries.

Previously, trade relations between Vietnam and the Philippines were partly hindered by psychological factors and the inconvenience of traveling between the two countries. Flights between Vietnam and the Philippines were previously operated mainly by Cebu and Philippine Airlines with inconvenient flight schedules and high ticket prices, which were not competitive. Since 2024, seeing great potential, Vietnam Airlines has made efforts to promote the reopening of direct flights between Vietnam and the Philippines.

And from one flight per day (3 flights/week between Manila - Hanoi and 4 flights/week between Manila - Ho Chi Minh City), up to now, Vietnam Airlines has opened the Manila - Hanoi route with one flight per day, maintaining the Manila - Ho Chi Minh City route with 4 flights/week, and at the same time opening a direct flight Manila - Da Nang. In addition, Cebu and Philippine Airlines have also continuously increased flights, and are planning to apply for permission to open a direct flight Cebu - Da Nang.

Sixth bright spot, new areas of cooperation between the two sides have been opened.

In addition to traditional export products, recognizing the urgent need from the Philippines, the Vietnam Trade Office in the Philippines has informed and supported connections to open up new cooperation opportunities for businesses of the two countries, in areas that the two sides previously did not pay attention to, such as pharmaceuticals, veterinary medicine and vaccines for livestock and poultry, especially vaccines against African swine fever.

The Philippines is also a country severely affected by African swine fever. Despite seeing the serious impact of the disease, the Philippines does not have a single business or laboratory investing in research and production of vaccines against African swine fever. Therefore, the need for African swine fever vaccines in the Philippines is more urgent than ever.

The fact that Vietnamese enterprises have successfully researched, tested and produced an African swine fever vaccine is not only a success for Vietnam but also creates hope and attracts attention not only from the Government and management agencies but also from businesses and pig farm owners in the Philippines.

In that context, the Vietnam Trade Office in the Philippines has informed about the connection to open up new cooperation opportunities for Vietnamese enterprises (AVAC Company and Dabaco Group) with Philippine enterprises in the field of vaccines, especially African swine fever vaccines.

In March 2024, on the occasion of the inauguration ceremony of the Dabaco Group's African swine fever vaccine production and commercial announcement, the Vietnam Trade Office in the Philippines supported the connection and organized a delegation of 14 delegates representing the Ministry of Agriculture and Philippine enterprises to Vietnam to attend the event and seek cooperation opportunities with the Dabaco Group.

Image of the delegation of the Ministry of Agriculture and Philippine businesses attending the event of Dabaco Group

3. And the prospect of increasing import-export turnover to 10 billion USD between Vietnam and the Philippines

Exceeding expectations, the import-export turnover between Vietnam and the Philippines in 2024 officially exceeded 8 billion USD, reaching 8.66 billion USD, an increase of 11% compared to 2023. Exports exceeded 6 billion USD for the first time, reaching 6.19 billion USD, an increase of 20.2% compared to 2023, Vietnam's trade surplus with the Philippine market reached 3.72 billion USD for the first time, higher than the expected level of 3.5 billion USD.

Although the import-export turnover between Vietnam and the Philippines in the first quarter of 2025 decreased compared to the same period in 2024, the total import-export turnover in 2025 between Vietnam and the Philippines is forecast to still increase.

Especially with the bright spots in the overall trade picture between Vietnam and the Philippines as mentioned above, the prospect of increasing import-export turnover between Vietnam and the Philippines to 10 billion USD as directed by General Secretary To Lam will completely become a reality in the not too distant future.

And to soon make the above goal a reality, domestic export enterprises need to continue to cooperate with the Ministry of Industry and Trade, relevant ministries and branches and the Vietnam Trade Office in the Philippines to continue to inform, propagate and promote Vietnamese products and goods in the Philippine market.

Source: Vietnam Trade Office in the Philippines

Source: https://moit.gov.vn/tin-tuc/thi-truong-nuoc-ngoai/ket-qua-giao-thuong-quy-i-nam-2025-va-huong-toi-dat-muc-tieu-kim-ngach-10-ty-usd-giua-viet-nam-va-philippines.html