Agricultural trade deficit narrows 16.8% in May
THE DEFICIT in the agricultural goods trade in May fell 16.8% year on year to $1.02 billion, according to the Philippine Statistics Authority (PSA).
Agricultural exports in May rose 19% to $734.42 million, the PSA said in a report.
It said agricultural exports accounted for 29.5% of two-way trade in farm goods, valued at $2.49 billion in May. Farm goods accounted for 10.1% of total exports.
Agricultural imports fell 4.8% year on year in May to $1.75 billion. Farm goods accounted for 16.6% of Philippine imports overall that month.
The $2.49 billion in agriculture trade in May was up 1.2% year on year. In April 2025 and May 2024, trade had risen 5% and 17.1%, respectively.
“In April 2025, the trade deficit registered an annual decrease of 6.1%, while an annual increase of 37.7% was recorded in May 2024.”
The PSA said exports of edible fruit and nuts and peel of citrus fruit or melons were valued at $257.99 million, accounting for 35.1% of agricultural exports.
Shipments to members of the Association of Southeast Asian Nations (ASEAN) in May hit $63.49 million, with Malaysia accounting for $27.33 million or 43% of the total.
Spain accounted for $53.39 million or 35.2% of Philippine agricultural exports to the European Union (EU). EU purchases totaled $151.77 million.
The PSA said cereals accounted for $452 million or 25.8% of all agricultural imports in May.
Vietnam accounted for $257.17 million or 36.7% of Philippine agricultural imports from ASEAN.
Within the EU, Spain was the Philippines’ top supplier of agricultural commodities, with imports valued at $39.27 million.
The top agricultural commodities imported from the EU were meat and edible meat offal, dairy produce, birds’ eggs, natural honey, edible products of animal origin, residues and waste from the food industries, and prepared animal fodder. — Kyle Aristophere T. Atienza
