Agriculture trade deficit Philippines hits $2.4 bln in third quarter

In the Philippines, agricultural trade data showed there was a deficit of $2.4 billion in the third…

In the Philippines, agricultural trade data showed there was a deficit of $2.4 billion in the third quarter, with imports of grain products worth over $900 million keeping the trade balance in the negative. According to the Philippine Statistics Authority, the deficit widened 18.3% from a year earlier, with the growth in imports (15.8% to $4.16 billion) outstripping that of exports (12.5% to $1.76 billion).

Total trade rose 14.8% year on year to $5.93 billion during the period, slowing from the second-quarter growth rate of 33.6%. A year earlier, the equivalent growth rate was 0.4%. The top exports were edible fruits and nuts and peel of citrus fruit and melons, which were valued at $471.71 million, or 26.8% of all farm exports.