March 29, 2018

 

Philippine agricultural exports decline 15% in Q4 2017; imports rise 2.7%

 

 

The Philippines' agricultural exports in the fourth quarter of 2017 dropped 15.3% to $1.30 billion from $1.54 billion in the fourth quarter of 2016, according to the latest data released by the Philippine Statistics Authority.

 

The share of agricultural exports to total exports was 8.4% compared with 10.3% in the same period of 2016.

 

Fish and crustaceans, mollusks and other aquatic invertebrates constituted the Philippines' third-largest agricultural exports, accounting for 9.7% of the total agricultural export value during the last quarter of 2017.

 

Exports of fish and other aquatic products declined 19.4% to US$126.04 million during the last quarter of 2017 from $156.42 million in the same period of 2016. Japan accounted for the largest share at 17.8%, valued at $22.46 million.

 

The fourth top export commodity was processed meat, fish, crustaceans, mollusks and other aquatic invertebrates, accounting for 8.2% of total agricultural exports. Export value of this commodity during the fourth quarter of 2017 grew 26.8% to $107.00 million from $84.37 million in the same quarter of 2016.

 

Shipments to the US, the largest buyer, totalled $37.92 million, or a share of 35.4%.

 

Agri imports

 

Agricultural imports increased 2.7% valued at $2.89 billion in the fourth quarter last year compared with $2.82 billion in the previous year. The share of agricultural imports to total imports, however, decreased 12.9% from 12.1% share in the same quarter of 2016 to 10.5% in the fourth quarter of 2017.

 

Among the major commodity groups, residues and waste from the food industries or prepared animal fodder led agricultural imports with a value of $355.85 million. However, imports of this agricultural commodity dropped 0.8% in the fourth quarter of 2017 from $358.77 million during the same period in. The bulk of this commodity was supplied by the US (49.7% with a value of $176.78 million).

 

Cereals ranked third, accounting for 12% of the total agricultural imports. This commodity dropped 11.7% to $348.48 million in the fourth quarter of 2017 from $394.43 million in 2016. The imported commodity also came mostly from the US, accounting for 37.2% of the total value of imports.

 

Meat and offal were the fifth-top import commodity in the fourth quarter last year. It declined by 2.2% at $255.66 million from $261.38 million in the fourth quarter of 2016. This agricultural commodity was heavily imported from the US constituting 18.1% share to total agricultural imports.

 

Dairy products, birds' eggs and edible products of animal origin were the sixth-top agricultural imports, which declined 13.5% to $193.85 million in Quarter 4.

 

Ninth-ranked fish and crustaceans, molluscs and other aquatic invertebrates rose 33.2% to $136.49 million.

 

Agri exports to Asean

 

The country's agricultural exports to the Asean member countries in the fourth quarter amounted to $109.36 million. On the other hand, total agricultural imports from Asean-member countries reached $947.68 million.

 

Within the Asean, Thailand was the top destination for exports with a share of 27.6% valued at $30.22 million. On the other hand, Indonesia was the Philippines' top supplier of agricultural products reaching $297.50 million or a 31.4% share.

 

Exports of agricultural goods to EU member countries in 2017 reached $306.56 million, accounting for 14.3% of the country's total exports. On the other hand, agricultural imports from EU member countries totalled $320.81 million, representing a share of 18.4% of the total imports. 

 

The Netherlands was the country's top trading partner of agricultural commodities among the EU member states with exports reaching $176.80 million and imports amounting to $66.90 million.

 

Meat and offal were the Philippines' top import agricultural commodities from the EU valued at $110.71 million.