Earnings from the agricultural exports of the country registered a 32.3 percent growth from PhP250.8 billion (B) in 2016 to PhP331.6B in 2017, according to the latest report from the Philippine Statistics Authority (PSA). On the other hand, imports of farm products have marginally declined by 0.3 percent from PhP594.5B in 2016 to PHP592.8B in 2017.
The top agricultural commodities exported/imported by the country in 2017 were as follows:
| Rank | Commodity | Volume (in tons) | Growth of Volume (in percent) | Value (in PhP) | Growth of Value (in percent) |
Percent share to exports/imports bill |
| EXPORTS | ||||||
| 1 | Fresh banana |
2.9 million (M) |
+64.7 | 56.9B | +64 |
17.2 |
| 2 | Sugar |
440,733 |
+142.5 | 10.3B | +118.1 |
3.1 |
| IMPORTS | ||||||
| 1 | Rice |
890,000 |
+45.7 | 18B | +36.1 |
3 |
| 2 | Corn |
475,244 |
-41.1 | 6.5B | -35.4 |
1.1 |
Share of agricultural commodities continued to improve the country’s total export earnings by 9.6 percent in 2017. Whereas, its contribution to the total import expenditures has declined by 12.2 percent, the PSA noted.
Read the whole article here: https://businessmirror.com.ph/earnings-from-agricultural-exports-up-32-25-report/