Highlights of the Foreign Trade Statistics for Agricultural Commodities in the Philippines Second Quarter 2020 Preliminary

Reference Number: 

2020-260

Release Date: 

Tuesday, September 8, 2020

Table A. Summary of Philippine Agricultural Trade
Second Quarter 2020 and 2019, and First Quarter 2020

Indicator Second Quarter 2020p First Quarter 2020r Second Quarter 2019r
FOB Value (in USD million) Year-on-Year Growth (in percent) FOB Value (in USD million) Year-on-Year Growth (in percent) FOB Value (in USD million) Year-on-Year Growth (in percent)
Total Agricultural Trade 4,074.51 -20.0 4,400.85 -11.6 5,092.10 4.8
Agricultural Exports 1,453.78 -20.6 1,606.65 4.7 1,831.37 16.5
Agricultural Imports 2,620.74 -19.6 2,794.21 -18.9 3,260.73 -0.8
Balance of Trade in Agricultural Goods -1,166.96 -18.4 -1,187.56 -37.8 -1,429.37 -16.7
p – preliminary; r – revised
Source: Philippine Statistics Authority

 

A. Total Agricultural Trade

1. Total agricultural trade falls at a faster rate

The country’s total agricultural trade in the second quarter of 2020, which amounted to USD 4.07 billion, declined at an annual rate of 20.0 percent. This was faster than the previous quarter’s annual drop of 11.6 percent. On the other hand, the second quarter of 2019 showed an annual increase of 4.8 percent .

During the quarter, agricultural exports and imports were recorded at USD 1.45 billion (35.7%) and USD 2.62 billion (64.3%), respectively. (Figure 1 and Table 1)

Figure 1

 

2. Agricultural trade balance decreases at a slower rate

In the second quarter of 2020, the total balance of trade in agricultural goods was USD 1.17 billion, which reflects a deficit with an annual decrease of 18.4 percent. In the first quarter of 2020, trade deficit fell at a faster rate of 37.8 percent, while it was slightly slower at 16.7 percent in the second quarter of 2019. (Table 1)

B. Agricultural Export

1. Agricultural export decreases by 20.6 percent

The country’s agricultural export revenue went down to USD 1.45 billion or by 20.6 percent in the second quarter of 2020, from USD 1.83 billion agricultural export in the second quarter of 2019. During the period, the value of agricultural export reflected a share of 11.4 percent to the total export of the country. (Figure 2 and Table 1)

Figure 2

 

2. Agricultural export of edible fruit and nuts; peel of citrus fruit melons commodity group comprisesthe largest share to total agricultural export

The total value of agricultural exports of the top 10 commodity groups was USD 1.40 billion or 96.1 percent of the total agricultural export revenue in the second quarter of 2020. The combined export value of these top 10 commodity groups posted an annual decrement of 20.7 percent during the quarter.

Among the commodity groups, edible fruit and nuts; peel of citrus fruit melons, valued at USD 576.86 million, contributed the largest share of 39.7 percent to the total agricultural exports. (Figure 3 and Table 3)

Figure 3

 

3. Malaysia leads as trading partner in exports among ASEAN member countries

The country’s agricultural exports to ASEAN member countries in the second quarter of 2020 amounted to USD 137.25 million which accounted for 6.8 percent of the total exports to ASEAN member countries. Among the ASEAN member countries, Malaysia was the top destination of agricultural exports worth USD 36.34 million or a share of 26.5 percent to the total agricultural exports to ASEAN member countries. (Figure 4 and Table 7)

Figure 4

 

4. Tobacco and manufactured tobacco substitutes group leads export of agricultural commodities to ASEAN member countries

The top three major agricultural commodities exported to ASEAN member countries in the second quarter of 2020 were:

a. tobacco and manufactured tobacco substitutes, USD 49.34 million;
b. preparations of cereals, flour, starch or milk; pastrycooks' products, USD 16.96 million; and
c. fish and crustaceans, molluscs and other aquatic invertebrates, USD 12.24 million. (Table 7)

5. Netherlands is the country’s major trading partner in export of agricultural goods among EU member countries

Exports of agricultural goods to European Union member countries in the second quarter of 2020 was valued at USD 273.97 million which comprised 21.1 percent of the country’s total exports to EU member countries.

Among the EU member countries, Netherlands was the country’s top buyer of agricultural commodities worth USD 114.85 million or 41.9 percent of the total agricultural exports to EU member countries. (Figure 5 and Table 9)

Figure 5

6. Animal or vegetable fats and oils and their cleavage products; prepared edible fats; animal or vegetable waxes commodity group is the top agricultural export to EU member countries

The top three major agricultural commodities exported to EU member countries in the second quarter of 2020 were:

a. animal or vegetable fats and oils and their cleavage products; prepared edible fats; animal or vegetable waxes, USD 1122 million;
b. preparations of meat, of fish or of crustaceans, molluscs, and other aquatic invertebrates, USD 57.02 million; and
c. preparation of vegetables, fruit, nuts or other parts of plants, USD 29.79 million. (Table 9)

C. Agricultural Import

1. Agricultural import posts 19.6 percent decrease

The total agricultural imports amounted to USD 2.62 billion or had a share of 16.5 percent to the country’s total imports in the second quarter of 2020. Compared with its value of USD 3.26 billion in the second quarter of 2019, total agricultural imports dropped by 19.6 percent during the period. (Figure 6 and Table 1).

Figure 6

 

2. Cereals commodity group accountfor the highest value of agricultural imports

Among the major commodity groups, cereals, with a value of USD 636.25 million comprised the largest share of 24.3 percent to the total agricultural imports in the second quarter of 2020. (Figure 7 and Table 5)

Figure 7

 

3. Vietnam contributes the highest import value among ASEAN member countries

The country’s agricultural imports from ASEAN member countries in the second quarter of 2020 amounted to USD 979.90 million which comprised 25.2 percent of the total imports from ASEAN member countries. Vietnam, which accounted for 34.10 percent of the total agricultural imports from ASEAN member countries, was the major supplier of agricultural products in the second quarter of 2020. (Figure 8 and Table 8)

Figure 8

 

4. Cereals commodity group tops agricultural commodities imported from ASEAN member countries

The top three imported agricultural goods from ASEAN member countries were:

a. cereals, USD 282.45 million;
b. miscellaneous edible preparations, USD 266.28 million; and
c. animal or vegetable fats and oils and their cleavage products; prepared edible fats; animal or vegetable waxes, USD 171.74 million. (Table 8)

5. Netherlands leads EU member countries on agricultural imports

The country’s agricultural imports from EU member countries reached USD 279.02 million or a share of 20.7 percent to the total imports from EU member countries in the second quarter of 2020. Among EU member countries, Netherlands was the country’s top supplier of agricultural commodities valued at USD 56.43 million or a share of 20.2 percent to the total agricultural imports from EU member countries. (Figure 9 and Table 10)

Figure 9

 

6. Meat and edible meat offal commodity group ranks first in terms of import from EU member countries

The top three agricultural commodities imported from EU member countries were:

a. meat and edible meat offal, USD 63.06 million;
b. dairy produce; birds’ eggs; natural honey; edible products of animal origin, not elsewhere classified, USD 51.27 million; and
c. cereals, USD49.65 million. (Table 10)

 

DENNIS S. MAPA, Ph.D.
Undersecretary
National Statistician and Civil Registrar General

 

 

EXPLANATORY NOTES

This Special Release features the preliminary figures for the imports and exports statistics of agricultural commodities of the Philippines for the second quarter of 2020. The agricultural exports and imports contained in this report are compiled by the Philippine Statistics Authority (PSA) from documents collected by the Bureau of Customs.

The commodities are classified in accordance with the 10-digit 2015 Philippine Standard Commodity Classification (PSCC). The agricultural commodity groups are from chapters 01 to 24 of the 2015 PSCC. Chapters 01 to 24 relate to commodity classifications for live animals, meat and edible meat offal, fish and crustaceans, molluscs and other aquatic invertebrates, dairy produce; birds’ eggs; natural honey; edible products of animal origin, not elsewhere classified, products of animal origin, not elsewhere specified or included, vegetables products, edible vegetables and certain roots and tubers, edible fruit and nuts; peel of citrus fruit melons, coffee, tea, mate and spices, cereals, malt, starches, inulin, wheat gluten, oil seeds and oleaginous fruits, miscellaneous grains, seeds and fruit, industrial or medicinal plants, straw and fodder, lac, gums, resins, gum-resins and oleoresins, vegetable plaiting materials, animal or vegetable fats and oils, waxes, prepared foodstuffs, beverages, spirits, vinegar and tobacco (manufactured and unmanufactured).

The valuation used for foreign trade of agricultural commodities adopts the World Trade Organization agreement on customs valuation and this applies to both imports and exports. Exports of agricultural commodities utilized the free on board (FOB) value, also known as the cost of goods. FOB is the value of the goods free on board the carrier at the frontier of the exporting country. It includes inland freight, export duty, and other expenses. Ocean freight, insurance, and consular fees, however, are excluded. On the other hand, imports of agricultural commodities use the cost of insurance and freight values which include the transaction value of the goods, the value of services performed to deliver goods to the border of the exporting country, and the value of services performed to deliver the goods from the border of the exporting country to the border of the importing country.1

Data request on imports and exports of agricultural commodities can be made at the PSA through the Trade Statistics Division of the Economic Sector Statistics Service with telephone number (02) 8376-1975 or email address tsd.staff@psa.gov.ph.

 

1. Source: IMTS Concepts and Definitions 2010, page 40 chapter 4). The value of transaction is expressed in US dollar.

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