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Rice led the Vietnam exports to the Philippines PDF Print
Monday, 24 April 2017 16:18

VIETRADE - Vietnam’s export revenue to the Philippines has increased remarkably in the recent years. Notably, in the first two months of this year, the export revenues of almost all commodities exported to this market saw an increase in compared to the same period of 2016. With a significant increase, rice has become the top export item.

 

According to the statistics of the General Department of Customs, in February 2017, the export revenue of Vietnam to the Philippines reached US$220.13 million, up 8.3% over the previous month. This brought our total export revenue to the Philippine market in the first two months of this year to US$420.15 million, up 26% over the same period last year.

 

The highlight of Vietnam's "export picture" to the Philippines is the breakthrough of rice with  a significant increase in February 2017 as well as in the first two months of the year to rank the first in the list of export commodities to this market. In particular, the rice's export revenue to the Philippines estimated at US$45.13 million in February, an increase of 36.5% from the previous month, bringing the total rice export value to more than US$78 million in the first two months of the year, up 36.1% over the comparable period last year, and accounting for 18.6% of total exports.

 

The Philippine market has a lot of potentials for Vietnam's rice exports, especially given that the country is considering the additional import of 800,000 tons of rice under the government's plan to provide food to its people. Meanwhile, the Philippine Commission on Food Security said that they would choose Thailand and Vietnam as rice suppliers for their country under this plan.

 

Machinery, equipment, other tools and spare parts ranked the second after rice in terms of export value with a total of U$ 37.02 million in the first two months of 2017, up 43.1% over  the previous year, and representing 8.8% of total exports.

 

In addition, many other items also contributed to enlightening the Vietnam’s export picture to the Philippines in the first two months of 2017 with an increasing trend, even some with a dramatic rise. The export of irons and steels was recorded at US$35.82 million, an increase of 2,169.3% over the same period last year. Other common metal and products thereof reached US$3.18 million with a 276.8% increase; glass and products thereof reached US$1.73 million with a 222.6% increase; chemical products reached US$10.35 million with a 135.5% increase; paper and products thereof reached US$2.24 million with a 72.5% increase; garment and textile, leather and footwear materials reached US$3.04 million with a 67.3% increase; animal feed and raw materials reached US$2.47 million with a 59% increase; confectionary and cereal products reached US$3.05 million with a 47.3% increase, aquatic products reached US$74 million with a 38.8% increase; ceramics and porcelain products reached US$1.37 million with a 37.2% increase; fibers and yarns reached US$4.65 million with a 33.9% increase; clinker and cement reached US$30.56 with a 31% increase; plastic products reached US$10.83 million with a 23.7% increase; vehicles and spare parts reached US$12.77 million with a 17.9% increase; and computer, electronic products and components reached US$25.5 with a 17.6% increase compared to the same period last year; etc.

 

On the other hand, some Vietnamese export items to the Philippines saw a fall in revenue in the first two months of this year, such as mobile phones and components with a value of US$27.56 million, reducing by 23.5%; coffee with a value of US$13.89 million, reducing byr 39.3%; textiles and garments with a value of US$9.71 million, reducing by 11.4%; cassava and products thereof with a value of US$3.29 million, reducing by 14.9%; pepper with a value of US$2.32 million, reducing by 34.6%; fertilizers with a value of US $1.96 million, reducing by 53.8%, iron and steel products with a value of US$1.68 million, reducing by 42.5% over a comparable period of 2016; etc.

 

The statistics of the General Department of Customs also show a diversity of Vietnam's exports to the Philippines in the first two months of this year. Notably, 29 out of 32 commodity groups had a revenue of more than US$1 million.



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