The total agricultural trade for the first quarter of 2023 posted a decline of 8.6 percent, amounting to $5.90 billion, data from Philippine Statistics Authority (PSA) showed on Wednesday. Know more:
THE total agricultural trade for the first quarter of 2023 posted a decline of 8.6 percent, amounting to $5.90 billion, data from Philippine Statistics Authority showed on Wednesday.
In the first quarter of 2023, total agricultural exports was recorded at $1.55 billion or a 26.2-percent share in the total agricultural trade, while agricultural imports accounted for $4.36 billion or 73.8 percent of the total agricultural trade.“In the first quarter of 2023, the total balance of trade in agricultural goods was $2.81 billion. This reflects a deficit with an annual growth of 10.2 percent,” the PSA said.
Moreover, the PSA data also said agricultural export revenue dropped to $1.55 billion or by 20.8 percent annual rate in the first quarter of 2023, from $1.95 billion agricultural export revenue in the first quarter of 2022. The top 10 commodity groups in terms of value of agricultural exports contributed $1.50 billion or 96.8 percent of the total agricultural export revenue in the first quarter of 2023.
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