Vietnam keeps havingtrade surplus intothe Philippines

Export, import turnover statistics, and trade balance between Vietnam and the Philippines in 2010-2015 and thefirst 8 months of 2016. Source: General Department of Customs.

The statistics of the General Department of Customs show that in the period 2010 - 2015, bilateral trade turnover between Vietnam and the Philippines fluctuated steadily over the years.

Specifically in 2010, the total import-export turnover between the two countries reached $US 2.41 billion, dropped to $US 2.35 billionin 2011, rose to $US 2.83 billion in 2012,dropped to $US 2.64 billion in 2013, increasedback to $US 2.99 billion in 2014, fell slightly to $US 2.93 billion in 2015, and reached $US 2.06 billion in the first 8 months of 2016.

For years, Vietnam has maintained greater exports tothe Philippines than the value of imports. Notably the trade surplus continued to increase since 2010 and the first 8 months of 2016.

Notably, in 2014, Vietnam maintained the trade surplus of up to $US 1.63 billion.

According to the General Department of Customs, from January to the end of August, the Philippines is the 22th largest commodity export market of Vietnam with turnover reached$US 1.44 billion, an increase of 15.2% over the same period in 2015. While in the reverse,the Philippines is the 20th largest goods suppliertoVietnam, with value of imports from this country is$US 620 million, an increase of 6.9% over the same period.

As a whole, the value of export turnover between the two countries, the Philippines is now the 19th largest trading partner among the 200 countries and territories which are commercial partners of Vietnam.

Vietnam mainly exports tothe Philippines markets commodities such as Phones and components; machinery, equipment, tools and accessories; computers, electronic products and components; rice; coffee; textile products... While goods imported mainly from this partner are computers and electronic products; machinery, appliances and parts; phones and components, copper items; Plastic materials…