The total value of the country’s agricultural exports has declined by 3.6 percent to $4.19 billion in the fourth quarter of 2017 from $4.35 billion in the same period in 2016 as the country’s major agricultural exports dwindled.
The share of agricultural exports to the country’s total exports also declined to 8.4 percent from 10.3 percent in 2016.
The country’s major agricultural exports for the quarter made up almost 95 percent of the total agricultural export revenue of $1.3 billion, which was lower than the $1.5 billion posted in the same period of 2016.
These products include animal or vegetable oils and their cleavage products, prepared edible fats, animal or vegetable waxes, edible fruits and nuts, fish and crustaceans, and manufactured tobacco.
Netherlands was the country’s top trading partner during the quarter with $306.56 million in imports, while Indonesia and Malaysia led Asean-member countries with a combined imports from the Philippines of $548.03 million.—KARL R. OCAMPO