Vietnam's Rice Exports Fuel Surge in Trade with the Philippines

In 2024, Vietnam's trade with the Philippines reached over US$8.66 billion, an 11% year-over-year increase. Vietnam's agricultural exports played a key role, pushing exports to over US$6.19 billion, a substantial 20.2% jump compared to 2023. Rice exports alone soared to over US$2.6 billion, a remarkable 48.9% increase. This surge in rice exports significantly contributed to Vietnam's US$3.72 billion trade surplus with the Philippines, exceeding expectations. Other key agricultural products like coffee also saw strong performance, exceeding US$288.5 million. This positive growth demonstrates Vietnam's successful efforts in diversifying its export markets and supporting domestic agriculture.