VIETNAM AND THE PHILIPPINES TRADE SECRETS – INSIDER NEWS

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 DEMOGRAPHICS OVERVIEW OF VIETNAM AND THE PHILIPPINES

Both the nations, namely Vietnam and the Philippines are located in the Asian continent. Southeast Asia is the region common to both countries. in the terms of area and land area, Vietnam has an edge as it is bigger than the Philippines by almost 31,000 km. despite Vietnam being the larger country, the population of the Philippines exceeds that of Vietnam by almost 1.25 crores. Due to this factor, the population density per square km is greater in the Philippines than in Vietnam. Talking about the type of government in each nation, then the government in the Philippines is a Presidential Republic whereas in Vietnam it is a Republic government.

HOW STRONG IS THE RELATIONSHIP BETWEEN VIETNAM TRADE DATA AND THE PHILIPPINES TRADE DATA

By deeply analyzing the trade relations between the Philippines and Vietnam, we came to the conclusion which states that the trade relations between the nations are strong and very deeply rooted. We support our argument strongly by showcasing the values of total exports made by Vietnam to the Philippines and vice versa in the year 2020. As per Vietnam Export Data for the year 2020, Vietnam exported goods worth USD 3.60 billion to the Philippines. In exchange for this, the Philippines Export Data showcases that the Philippines also exported goods worth USD 1.59 billion to Vietnam.

The bilateral trade between the two countries is increasing every year by a considerable amount which is strengthening the bond between the countries even more. This bilateral trade is estimated to dominate Vietnam Trade Data and the Philippines' Trade Data as well.



Among all the items exported by Vietnam, the most favorite items as per Vietnam Export Data and Vietnam Trade Data that are exported to the Philippines are:

·        Cereals (USD 1.02 billion)

·        Electrical gadgets and equipment (USD 806 million)

·        Semi-furnished steel and iron (USD 517.5 million)

·        Machinery and boilers (USD 205.25 million)

·        Plastics (USD 100 million)

·        Coffee, spices, and tea (USD 81.4 million)

In cereals, rice is the major commodity exported by Vietnam to the Philippines as listed in Vietnam Export Data for the year 2021.

On the other hand, the exports made by the Philippines to Vietnam, as listed in the Philippines Export Data and Philippines Trade Data are:

·        Electrical equipment and gadgets (USD 1 billion)

·        Nuclear reactors, boilers, and machines (USD 165 million)

·        Copper items and raw copper (USD 147 million)

·        Plastics (USD 111.55 million)

·        Fertilizers (USD 15.3 million)

Amongst all the products exported from the Philippines to Vietnam, integrated circuits were the main items that were exported as per Philippines Export Data which were worth USD 395 million.

CONCLUSION

As the years are passing, the bilateral trade between both countries is increasing and growing by leaps and bounds. As both nations share a common continent, trade is relatively easier between these countries due to multiple transportation facilities without any hassle or lags. Also, the trade barriers are limited due to less distance. In the coming years, the Philippines Trade Data and Vietnam Trade Data will increase several folds due to their increasing collaboration with each other.

FOR MORE INSIGHTS

If you want further analysis and the best advice about the Vietnam Trade Data or the Philippines Trade Data or the Global Trade Data of any country, then get in touch with TradeImeX® Info Solution Pvt Ltd. We are one of the best companies available online that provide 100% accurate and reliable trade data from more than 70 countries including Vietnam Export Data and export Import Data at affordable prices. We deal in providing customized databases to our clients which are highly curated as per each client’s needs and want.

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