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Oct 23, 2017 @ 16:33

PH agriculture trade up 3% to US$4.11B

The total value of Philippine agricultural trade increased by 2.6 percent in the second quarter of 2017 to $4.011 billion from $3.910 billion in the same period of 2016, Philippine Statistics Authority (PSA) said.

In a data released today, PSA said that total export receipts for all commodities grew by 12.7 percent in the second quarter of 2017.

Similarly, agricultural export expanded by 23.9 percent to $1.338 billion in the second quarter of 2017 from $1.080 billion during the same period of 2016, while the share of agricultural export to total export likewise went up by 8.5 percent from 7.7 percent.

Meanwhile, total imports increased by 5.3 percent to $23.682 billion in the second quarter of 2017 from $22.495 billion in the same quarter of 2016.

However, agricultural import showed an opposite trend as it dropped by 5.6 percent with value of $2.673 billion in the second quarter of 2017 from $2.831 billion during the same quarter of 2016.

The share of agricultural imports to total imports was 11.3 percent in the second quarter of 2017 from 12.6 percent in the same quarter of 2016.

The country’s agricultural trade balance in the second quarter of 2017 reflected a deficit of $1.335 billion, lower than the posted value of $1.751 billion in the same period of 2016.



 

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