It is located in the Southeast region of the country, to the north of Hồ Chí Minh City (formerly Saigon).

Several rivers originating in the Central Highlands flow into it, including Đak G'lun, Đăk Nhau, Đắk R'lấp, and Dak Oa (from north to south).

Bình Phước is agriculturally one of the most productive provinces of Vietnam, especially relying on cash crops such as cashew nuts and rubber.

As of 2007, its agricultural gross domestic product (GDP) per capita was 7.03 million Vietnamese đồngs, the highest in Vietnam, while industrial GDP per capita was only 1.7 million đồngs, making it one of the least industrialized provinces in the southern half of Vietnam.

The main export products include rubber latex, shelled cashew nuts and pepper.

[8] Agriculture in Bình Phước is dominated by perennial crops, mainly cashew nuts, rubber, coffee and pepper.

[8] Cashew nuts are grown mostly in the east and south of the province, roughly along (north and west of) National Route 14.

[6] Cashew nuts are an important export product for Bình Phước as well as Vietnam in general.

Exports in 2010 are expected to reach US$1 billion, while there are also increasing imports of raw cashew nuts because processing capacity by now significantly exceeds the quantity grown in Vietnam.

[6] Bình Phước's pepper production also accounts for a significant share of national output (24 percent).

[8] Pepper is grown in the southwest of the province in the districts of Bình Long and Chơn Thành, between National Route 13 and the Bé River.

Other industries include construction materials (stones and bricks) and forest product processing (saw wood and paper).

[8] In September 2007, moves were made to consider the construction of a section of the proposed Trans-Asian Railway from Dĩ An on the main north-south line to Lộc Ninh near the Cambodian border.