Vietnam and Philippines
Vietnam and the Philippines elevated their relationship to an enhanced strategic partnership in June 2026. Maritime cooperation, agriculture and the fight against transnational crimes combine with cultural exchange and protection of workers and fishermen.
Analysis reviewed: 2026-10-08 · Indicators updated: 2026-10-08History and institutional framework
To Lam visited the Philippines from 31 May to 1 June 2026, coinciding with fifty years of diplomatic relations.
What merchandise trade shows
In 2025, goods trade between Vietnam and Philippines totalled 7,398.4 million current USD.
Documented trade sectors
Within the selected chapters, electrical and electronic equipment stands out in shipments from Vietnam to Philippines, at 1,181.4 million USD in 2025.
Bilateral indicators
Blank cells: data unavailable.
| Indicator | Value | Period |
|---|---|---|
| Goods trade | 7,398.4 M USD | 2025 · Comtrade |
| Goods: Vietnam to Philippines | 5,870.68 M USD | 2025 · Comtrade |
| Goods: Philippines to Vietnam | 1,527.72 M USD | 2025 · Comtrade |
| Services trade | ||
| Export share: Vietnam to Philippines | ||
| Export share: Philippines to Vietnam | 1.81 % | 2025 · Comtrade |
| Investment stock: Vietnam in Philippines | ||
| Investment stock: Philippines in Vietnam |
Definitions and sources
Trade adds both directions. Shares refer to the country’s total goods exports; investment is an accumulated stock, not an annual flow. Every figure retains the currency and period of its source. BEA positions are historical-cost estimates based on the immediate counterpart, not market values or investment by ultimate owner. ‘More than’ indicates a lower bound, not an exact amount. A recorded stock does not establish new activity or authorisation to operate under sanctions.
- Goods trade
- 2025 · UN Comtrade; reporters NPL, NRU, NZL, OMN, PAN, PER, PHL, PLW, PNG, PRK, PRT, PRY · Goods; full calendar year; reporter PHL. Exports normally FOB and imports CIF; no addition of mirror declarations. Both directions are identified from the same customs authority.
- Goods: Vietnam to Philippines
- 2025 · UN Comtrade; reporters NPL, NRU, NZL, OMN, PAN, PER, PHL, PLW, PNG, PRK, PRT, PRY · Goods; full calendar year; reporter PHL. Exports normally FOB and imports CIF; no addition of mirror declarations. Both directions are identified from the same customs authority.
- Goods: Philippines to Vietnam
- 2025 · UN Comtrade; reporters NPL, NRU, NZL, OMN, PAN, PER, PHL, PLW, PNG, PRK, PRT, PRY · Goods; full calendar year; reporter PHL. Exports normally FOB and imports CIF; no addition of mirror declarations. Both directions are identified from the same customs authority.
- Export share: Philippines to Vietnam
- 2025 · UN Comtrade; reporters NPL, NRU, NZL, OMN, PAN, PER, PHL, PLW, PNG, PRK, PRT, PRY · Exports to the partner / worldwide exports by the same reporter; same year and coverage.
Country comparison
Period and source beside each figure · est. = estimate by the stated institution.
Some annual indicators refer to different years. Check the period beside each value before comparing them.
| Indicator | Vietnam | Philippines |
|---|---|---|
| Nominal GDP | 514.7 billion USD2025 · World Bank | 487.09 billion USD2025 · World Bank |
| GDP per capita | 5,065.99 USD2025 · World Bank | 4,170.72 USD2025 · World Bank |
| GDP growth | 8.02 %2025 · World Bank | 4.4 %2025 · World Bank |
| Policy interest rate | ||
| Inflation · annual average | 3.31 %Annual average · 2025 · World Bank | 1.66 %Annual average · 2025 · World Bank |
| Inflation · latest year-on-year figure | 7.2 %Year-on-year · 2026-09 · PSA Philippines | |
| Unemployment | 1.52 %ILO est.2025 · World Bank | 2.24 %ILO est.2025 · World Bank |
| Budget balance (% of GDP) | -2.2 %IMF est.2025 · IMF | -4 %IMF est.2025 · IMF |
| Gross public debt (% of GDP) | 30.3 %IMF est.2025 · IMF | 59.4 %IMF est.2025 · IMF |
| Current account balance (% of GDP) | 6.33 %2024 · World Bank | -3.34 %2025 · World Bank |
| Population | 101,598,5272025 · World Bank | 116,786,9622025 · World Bank |
| Area | 331,338 km²2023 · World Bank | 300,000 km²2023 · World Bank |
| Military expenditure | ||
| Military expenditure (% of GDP) |
Definitions, dates and sources
Blank cells are not zero. Average annual inflation and the latest year-on-year figure appear in separate rows: they are not the same measure. Every annual indicator retains its reference year; when the years differ, the figures are identified as not directly comparable. When a figure is unavailable from the World Bank, an annual IMF estimate is used and identified as such. The latest year-on-year figure is the latest official release verified as of 7 October 2026. This includes advance releases marked as provisional. Mexico may have a fortnightly figure before the full month is published; it is not automatically compared with a monthly figure. The publication date is retained in each source’s details; it does not replace the observation period or the annual average. Policy rates carry their own dates and represent different instruments. Spain and France share the ECB rate. Balances are positive for surpluses and negative for deficits. The IMF may use fiscal years; unemployment retains each source’s definition (ILO estimates, IMF WEO or PCBS), as stated in the details. For Palestine, debt and the fiscal balance cover central government and retain the PCBS definition; they are not presented as consolidated general government. These are economic magnitudes, not measures of relationship quality.
Area retains each source’s territorial coverage; it does not determine sovereignty or effective control. Canada uses an archived national geographic reference. Military expenditure retains the 2024 SIPRI sample distributed by the World Bank: the amount and percentage of GDP use that same definition, which differs from NATO’s. It is not an approved budget or a 2026 figure. Information from the Stockholm International Peace Research Institute (SIPRI). Military expenditure database · Terms of use0
Indicators reviewed: 2026-10-07. Each source retains its original access date; this review does not turn all the data into 2026 observations. Figures may be revised.
- Nominal GDP
- Current USDVietnam: 2025 · World Bank · Official World Bank series; observation period, not download date.Philippines: 2025 · World Bank · Official World Bank series; observation period, not download date.
- GDP per capita
- Current USD per personVietnam: 2025 · World Bank · Official World Bank series; observation period, not download date.Philippines: 2025 · World Bank · Official World Bank series; observation period, not download date.
- GDP growth
- Annual real change (%)Vietnam: 2025 · World Bank · Official World Bank series; observation period, not download date.Philippines: 2025 · World Bank · Official World Bank series; observation period, not download date.
- Policy interest rate
- Central bank instrument (%)
- Inflation · annual average
- Average annual change in headline CPI (%)Vietnam: 2025 · Annual average change in CPI (%) · World Bank · Official World Bank series; observation period, not download date.Philippines: 2025 · Annual average change in CPI (%) · World Bank · Official World Bank series; observation period, not download date.
- Inflation · latest year-on-year figure
- Headline CPI relative to the same period of the previous year (%); monthly or fortnightly frequency statedPhilippines: 2026-09 · Headline CPI; change against the same month of the previous year · PSA Philippines · National headline CPI year-on-year; not Manila alone, food inflation or core inflation.
- Unemployment
- % of the labour force; definition used by the stated institutionVietnam: 2025 · ILO modelled estimate, percentage of the labour force · World Bank · ILO est. · Official World Bank series; observation period, not download date.Philippines: 2025 · ILO modelled estimate, percentage of the labour force · World Bank · ILO est. · Official World Bank series; observation period, not download date.
- Budget balance
- General government (% of GDP)Vietnam: 2025 · IMF · IMF est. · IMF WEO general-government estimate. Retains the source’s fiscal year when it differs from the calendar year.Philippines: 2025 · IMF · IMF est. · IMF WEO general-government estimate. Retains the source’s fiscal year when it differs from the calendar year.
- Gross public debt
- General government (% of GDP)Vietnam: 2025 · IMF · IMF est. · IMF WEO general-government estimate. Retains the source’s fiscal year when it differs from the calendar year.Philippines: 2025 · IMF · IMF est. · IMF WEO general-government estimate. Retains the source’s fiscal year when it differs from the calendar year.
- Current account balance
- % of GDPVietnam: 2024 · World Bank · Official World Bank series; observation period, not download date.Philippines: 2025 · World Bank · Official World Bank series; observation period, not download date.
- Population
- PeopleVietnam: 2025 · World Bank · Official World Bank series; observation period, not download date.Philippines: 2025 · World Bank · Official World Bank series; observation period, not download date.
- Area
- Total area in km²; territorial coverage of the sourceVietnam: 2023 · World Bank · Official World Bank series; observation period, not download date.Philippines: 2023 · World Bank · Official World Bank series; observation period, not download date.
- Military expenditure
- Current USD per year; SIPRI series
- Military expenditure (% of GDP)
- Percentage of GDP; SIPRI definition, not NATO’s definition
Other data specific to this relationship
What they buy and sell
Documented selection, not an exhaustive list. Cells without a figure do not mean zero value; some products are identified without a verified amount.
Vietnam to Philippines
| Product or sector | Value / share |
|---|---|
| Electrical and electronic equipment | 1,181.4 M USD2025 · Source |
| Vehicles and components | 295.1 M USD2025 · Source |
| Machinery and mechanical appliances | 268.1 M USD2025 · Source |
| Mineral fuels and oils | 50.1 M USD2025 · Source |
| Pharmaceutical products | 31.5 M USD2025 · Source |
| Dairy products, eggs and honey | 5.6 M USD2025 · Source |
| Metal ores | 4.9 M USD2025 · Source |
Philippines to Vietnam
| Product or sector | Value / share |
|---|---|
| Electrical and electronic equipment | 1,007.9 M USD2025 · Source |
| Machinery and mechanical appliances | 110 M USD2025 · Source |
| Mineral fuels and oils | 9.5 M USD2025 · Source |
| Vehicles and components | 3.3 M USD2025 · Source |
| Pharmaceutical products | 0.457 M USD2025 · Source |
| Metal ores | 0.404 M USD2025 · Source |
| Dairy products, eggs and honey | 0.181 M USD2025 · Source |
How trade has changed
Billions of current USD · full calendar years
View chart figures
| Period | Total | Vietnam to Philippines | Philippines to Vietnam |
|---|---|---|---|
| 2021 | 6,108.2 | 4,469.5 | 1,638.8 |
| 2022 | 6,495.8 | 4,773.5 | 1,722.3 |
| 2023 | 6,669.8 | 4,974.9 | 1,694.9 |
| 2024 | 7,382.9 | 5,725.3 | 1,657.6 |
| 2025 | 7,398.4 | 5,870.7 | 1,527.7 |
Connections between people
It proposes information and training against digital scams and human trafficking, and continued negotiations on extradition, criminal assistance and transfer of sentenced persons. The 2024–2029 cultural program includes libraries, archives, heritage, museums and the arts. [1]
Residents, study and travel
Blank cells: data unavailable. Each measure retains its definition and period.
| Indicator | Value | Period / source |
|---|---|---|
| Residents from Vietnam living in Philippines | ||
| Residents from Philippines living in Vietnam | ||
| Study and training: Vietnam in Philippines | ||
| Study and training: Philippines in Vietnam | ||
| Academic stays: Vietnam in Philippines | ||
| Academic stays: Philippines in Vietnam | ||
| Travel: Vietnam to Philippines | ||
| Travel: Philippines to Vietnam |
What each figure measures
Residents are counted by nationality and the coverage of the stated register, not as people born in the other country or as new arrivals in one year. PERE includes dual nationals and people born outside Spain. Study with OPT and stays carrying academic credit are different measures. Travel may include several visits by the same person; FRONTUR arrivals require an overnight stay, whereas the Canadian survey includes day visits. These figures are neither added together nor automatically compared across directions.
Mobility data added or reviewed: 2026-10-07. Reference periods may be earlier.
Underlying ties
History, institutions and long-standing issues.
History and institutional framework
To Lam visited the Philippines from 31 May to 1 June 2026, coinciding with fifty years of diplomatic relations. The governments agreed to prepare a new action plan and use cooperation, trade and ocean affairs commissions. [1]
The scale of both economies
Nominal GDP for Vietnam is 514.7 billion USD (2025), compared with 487.1 for Philippines (2025). The reference populations are 101.6 and 116.79 million, respectively. In the same year, the economy of Vietnam was 1.06 times that of Philippines in nominal GDP. The comparison provides context on market size, but does not, on its own, measure influence, well-being or diplomatic closeness. Estimates and their sources retain their labels in the tables. [5] [6]
Recent developments
Recent developments and latest available data · Review: 2026-10-08
Cooperation and bilateral issues
The statement highlights incident prevention mechanisms, coast guard cooperation and a maritime hotline. It proposes information and training against digital scams and human trafficking, and continued negotiations on extradition, criminal assistance and transfer of sentenced persons. These negotiations are not confused with treaties in force. The 2024–2029 cultural program includes libraries, archives, heritage, museums and the arts. [1]
What merchandise trade shows
In 2025, merchandise trade between the two countries (Vietnam and Philippines) totalled 7,398.4 million current USD. Shipments from the first to the second were 5,870.7 million; those in the opposite direction, 1,527.7 million. The difference between the two flows was 4,343 million, in favour of Vietnam. This is a goods balance, not the total balance of the economic relationship: it excludes services, income and transfers. Both directions come from a single customs reporter to avoid adding mirror records. [2]
The partner's share of exports
Sales from Philippines to the partner represented 1.81% of its worldwide goods exports in 2025. The share compares the same reporter, year and coverage. It measures export concentration, not the percentage of GDP dependent on this relationship. A partner may be important in a specific sector even if its share of total goods trade is small. [2]
Five years of trade trends
The consistent series shows 6,108.2 million USD in 2021 and 7,398.4 million in 2025. The change between the two endpoints was +21.1 % in current dollars. The highest annual value in the period was recorded in 2025, at 7,398.4 million. The chart allows the two directions to be compared to see whether they moved together or differently. The change combines quantities, prices and exchange rates; it is not automatically attributed to a treaty, a visit or a political decision. The same reporter is retained and missing years are not interpolated. [3]
Documented trade sectors
Within the selected chapters, electrical and electronic equipment stands out in shipments from Vietnam to Philippines, at 1,181.4 million USD in 2025. Within the selected chapters, electrical and electronic equipment stands out in shipments from Philippines to Vietnam, at 1,007.9 million USD in 2025. The table compares eight selected chapters with the same coverage as the trade total. It is not a complete list or proof that the first item in this selection is the leading product across the entire relationship. A chapter groups numerous goods: machinery and components, for example, do not describe a single business transaction. [4]
Sources and data
Periods and scope of the figures
Institutional sources and periods accompany each figure. Annual trade, investment positions, residents and visits are distinct measures. Empty cells do not mean zero. Statements of intent are not presented as project implementation or treaties in force.
- Bilateral relations — VNM-PHL
mofa.gov.vn · Institutional source · Accessed: 2026-10-08
- Bounded matrix; reporter, partner, year, chapter and direction identified in each record
UN Comtrade; reporters NPL, NRU, NZL, OMN, PAN, PER, PHL, PLW, PNG, PRK, PRT, PRY · Institutional source · Accessed: 2026-10-08
- Trade series 2021–2025
UN Comtrade / PHL · Institutional source · Accessed: 2026-10-08
- Bounded matrix; reporter, partner, year, chapter and direction identified in each record
UN Comtrade; reporters PAK, PAN, PHL · Institutional source · Accessed: 2026-10-08
- NY.GDP.MKTP.CD; country ISO and year preserved; no military data; exact requested country subset independently re-fetched and values compared
World Bank · Institutional source · Accessed: 2026-10-07
- SP.POP.TOTL; country ISO and year preserved; no military data; exact requested country subset independently re-fetched and values compared
World Bank · Institutional source · Accessed: 2026-10-07
Additional sources on products and human connections
- UN Comtrade; reporters PAK, PAN, PHL
2026-10-08 · Accessed: 2026-10-08 · Bounded matrix; reporter, partner, year, chapter and direction identified in each record.