MANILA – The Philippine Statistics Authority (PSA) has recorded positive growth in the country’s total agricultural trade in the first quarter of 2021.
The total agriculture trade for the months of January to March amounted to USD4.92 billion, an increase of 5.5 percent at an annual rate.
In contrast, trade in the fourth quarter of 2020 recorded an annual decline of -89.5 percent, while in the first quarter of 2020, trade decreased by -89.3 percent.
During the first quarter of 2021, agricultural exports and imports were recorded at USD1.55 billion (31.5 percent), and USD3.37 billion (68.5 percent), respectively.
The Department of Agriculture (DA) hopes these figures will be reflected for the rest of the year as the country builds its defenses against coronavirus disease 2019 (Covid-19) and moves through the challenges that come along with the pandemic.
"We can see that despite the mobility restrictions, there are already positive yields in our sector. This implies that the agriculture industry is slowly gaining its energy and now contributing bigger to the economy," said DA spokesperson Noel Reyes in a virtual briefer on Thursday.
Agriculture Secretary William Dar has also been bullish in strengthening relations with allied countries for the exchange of products.
The country’s agricultural exports to Asean member countries in the first quarter of 2021 amounted to USD201.51 million which accounted for almost 7.0 percent of the total exports to the region.
Among the Asean member countries, Malaysia was the top buyer of agricultural exports worth USD61.87 million or a share of 30.7 percent of the total agricultural exports.
Meanwhile, the Philippines' exports of agricultural goods to European Union member countries in the first quarter of 2021 amounted to USD298.27 million which comprised 14.2 percent of the country’s total exports to EU member countries.
Among the EU member countries, Netherlands was the country’s top destination of agricultural commodities worth USD120.51 million or 40.4 percent of the total agricultural exports to EU member countries. (PNA)
