The Philippines’ agricultural sector saw a rise in export revenue in February 2025, totaling USD691.92 million—up 21 percent from the previous year’s USD572.32 million. However, despite this positive growth, the country’s agricultural trade deficit continued to widen, as agricultural imports also saw a significant increase.
Agricultural exports in February 2025 accounted for 11 percent of the country’s total export revenue. The largest share of agricultural exports came from the commodity group of animal, vegetable, or microbial fats and oils, which contributed USD259.12 million to total agricultural export revenue.
The top 10 agricultural commodity groups accounted for 97 percent of the total agricultural export value, collectively seeing a 23 percent increase from the previous year. This growth, particularly in fats and oils, highlights the sector’s capacity to expand in select high-value markets.
Despite this increase in exports, agricultural imports surged to USD1.49 billion in February 2025, representing a 15 percent year-on-year rise. This figure accounted for 16 percent of the country’s total imports, further exacerbating the agricultural trade deficit. The top 10 agricultural import groups represented 84 percent of the total import value, with cereals contributing the largest share at USD351.49 million, or 24 percent of total agricultural imports.
The Philippines’ agricultural sector remains heavily reliant on imports, particularly from Southeast Asian countries. In February, key imports from ASEAN included fats and oils (USD153.19 million), cereals (USD129.57 million), and miscellaneous edible preparations (USD122.60 million).
The agricultural trade deficit widened to USD1.81 billion in the January-February period.
