The Philippines remained a net importer of agricultural products in July, as total import receipts continued to dwarf exports despite a double-digit surge in outbound shipments, data from the Philippine Statistics Authority (PSA) showed.
The country’s agricultural trade deficit widened to USD929.8 million in July from USD886.2 million in the same month last year.
Exports of farm goods jumped by 18 percent year-on-year to USD779.3 million, accounting for 11 percent of total Philippine exports in July. However, agricultural imports rose by 10 percent to USD1.71 billion, representing 15 percentof total imports during the period.
The PSA noted that the top 10 agricultural export groups contributed USD759.86 million, or 98 percent of total agri-exports. These top-performing categories saw a combined annual increase of 19 percent.
Leading the pack were edible fruits and nuts, and citrus or melon peels, with exports reaching USD246.19 million—making up 32 percent of total agricultural export value.
On the import side, the top 10 agricultural commodities brought in USD1.39 billion, or 82 percent of total agri-imports, reflecting a 7.1 percent year-on-year increase.
Cereals, particularly rice, remained the largest agricultural import category, with a total value of USD319.67 million, accounting for 19 percent of the total agricultural imports in July.
The data underscores the country’s continuing dependence on imported agricultural goods, despite efforts to boost farm productivity and improve export competitiveness.
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