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Apr 1, 2018 @ 9:34

PH’s total agri trade declined in the last three months of 2017

The total value of Philippine agricultural trade declined by 3.6 percent to US$4.19 billion in the last three months of 2017 from the $4.35 billion registered during the same period of 2016.

Philippine Statistics Authority (PSA) said that while total export revenue for all commodities posted an increment of 4.0 percent in the fourth quarter of 2017, agricultural export dropped by 15.3 percent to US$1.30 billion in the same period.

Likewise, the share of agricultural export to total export stood lower at 8.4 percent compared to 10.3 percent in the same period of 2016.

Meanwhile, the country’s total import bill went up by 17.9 percent to $27.55 billion in the fourth quarter of 2017 from $23.37 billion in the same quarter of 2016. Of this, agricultural import saw an increase of 2.7 percent, valued at $2.89 billion in the fourth quarter of 2017.

The share of agricultural imports to total imports particularly decreased by 12.9 percent from 12.1 percent share in the same quarter of 2016 compared to 10.5 percent in the fourth quarter of 2017.

“This resulted to a higher trade deficit of $1.59 billion in the fourth quarter of 2017 against $1.281 billion in the same period of 2016,” PSA said.



 

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