The total agricultural trade of the Philippines in the fourth quarter of 2020, amounting to US$4.66 billion, fell at an annual rate of 6.8 percent. This was faster than the previous quarter’s annual decrease of 3.3 percent and the fourth quarter of 2019’s annual drop of 0.5 percent. According to the latest data from the Philippine Statistics Authority, during the quarter, agricultural exports and imports were recorded at $1.47 billion (31.5 percent) and $3.19 billion (68.5 percent) respectively. The country’s agricultural export revenue fell 10.4 percent to $1.47 billion in the fourth quarter of 2020, from $1.64 billion in the fourth quarter of 2019. During the period, the value of agricultural export accounted for 8.2 percent of the total export of the country.
Sunstar.com.ph reports that the total value of agricultural exports of the top 10 commodity groups was $1.41 billion or 95.9 percent of the total agricultural export revenue in the fourth quarter of 2020. The combined export value of these top 10 commodity groups posted an annual decrease of 10.4 percent during the quarter.