Agri exports up in 1H
Exports of total agro-based products reached US$2.06 billion in the first half of 2017, up 23.2 percent from US$1.67 billion in the same period last year, latest figures from the Philippine Statistic Authority (PSA) showed.
Among agro-based products, coconut products posted one of the highest increases in exports with US$920.7 million from January to June 2017, a 78.2 percent surge from US$516.8 million during the same frame in 2016.
This, as agriculture particularly rebounded with a 5.7 percent growth in the first half quarter of 2017 from a contraction of 3.4 percent a year ago.
PSA figures show the gross value of agricultural production hit P422.4 billion from January to June 2017, up 11.4 percent from the same period last year.
The Department of Agriculture (DA) said good climate and favorable conditions in farming contributed to the positive growth.
The agriculture sector, which accounts for more than a tenth of the gross domestic product, also contributed to the 6.4 percent GDP growth in the first half of 2017.