The Philippines’ agricultural trade deficit narrowed sharply in December, buoyed by a strong rebound in farm exports and a pullback in imports, offering a late-year boost to the country’s external trade position.
Data from the Philippine Statistics Authority showed agricultural exports reached USD884.77 million in December, accounting for 36 percent of total agricultural trade. Imports, meanwhile, stood at USD1.55 billion, or 64 percent of the total. The result was a trade gap of USD668.35 million, 27 percent narrower than the deficit recorded in December 2024.
Exports posted a 19 percent year-on-year increase, reflecting firmer overseas demand and improved shipment values for key products. The top 10 commodity groups accounted for USD863.37 million of total exports, underscoring the sector’s continued reliance on a narrow but high-performing product base. Edible fruits and nuts, including citrus and melon peels, led the pack with exports valued at USD329.72 million, making up 37 percent of total outbound shipments for the month.
Regionally, Malaysia emerged as the largest Southeast Asian buyer, purchasing USD58.1 million worth of Philippine agricultural goods, roughly 60 percent of exports to the region. Demand from Europe was also notable, with shipments to European Union member states reaching USD220.40 million. The Netherlands absorbed the bulk of those exports at USD154.4 million, reinforcing its role as a key entry point for Philippine produce into Europe.
On the import side, agricultural purchases fell 6.2 percent year on year. The top 10 imported commodity groups totaled USD1.30 billion, down 7.6 percent, suggesting softer demand or improved domestic supply. Cereals, including rice, remained the largest import item at USD234.18 million.
The December figures point to a gradual rebalancing in agricultural trade, where export momentum and moderated imports helped ease pressure on the deficit heading into the new year.
