July 2, 2010

Philippine livestock and grain industries beat recession

The Philippines weathered the global recession better than its regional peers with a GDP that grew almost 1% in 2009; economic growth has averaged 4.5% per year since 2001.

The livestock sector grew by 0.51% and accounted for 12.28% of agricultural output; poultry production increased 2.02%, representing 15.13% of agricultural output; the fishery sector fell 0.63% and accounted for the remaining 24.84% of agricultural production.

Agriculture accounts for almost 15% of the GDP and about 34% of the labour force is employed in agriculture. Agricultural production fell 2.84% in the first quarter of 2010, due to huge production losses in palay (unhusked rice) at 11.41% and corn at 16.76%.

Crops accounted for 47.75% of total agricultural production. Yellow corn production was adversely affected by hot weather in growing areas.