MANILA: The country’s agricultural trade decreased by 4 percent to $4.19 billion (at least P218.2 billion) in the fourth quarter of 2017 as exports fell and imports rose, the Philippine Statistics Authority (PSA) said.
Latest PSA data showed that the sector’s trade value plunged 3.6 percent from $4.35 billion in 2016 as total exports dipped 15.34 percent to $1.3 billion from $1.54 billion a year earlier.
Agriculture accounted for 9.74 percent of total trade, which reached $43.043 billion in the period.
Farm exports jumped 2.72 percent to $2.89 billion, causing the sector’s trade deficit to increase 24.37 percent to $1.59 billion.
The Philippines had the biggest agriculture deficit with the Association of Southeast Asian Nations (Asean) at $838.33 million. The United States followed with $305.5 million; Australia, $99.92 million; and the European Union (EU), $14.25 million.
