A. Total Agricultural Trade
1. Total agricultural trade decreased by 12.0 percent
The country’s total agricultural trade in the third quarter of 2023, which amounted to USD 6.20 billion, posted an annual decline of 12.0 percent. This indicates a slower annual decline compared with the 14.8 percent annual decrement in the second quarter of 2023. In the third quarter of 2022, the total agricultural trade recorded an annual increase of 17.5 percent.
In the third quarter of 2023, total agricultural exports was recorded at USD 1.61 billion or 8.2 percent share to the total agricultural trade, while agricultural imports accounted for USD 4.59 billion or 14.6 percent of the total agricultural trade. (Figure 1, and Tables A and 1)
2. Agricultural trade balance decreased by 10.5 percent
In the third quarter of 2023, the total balance of trade in agricultural goods was recorded at USD -2.97 billion, which reflects a deficit with an annual decline of 10.5 percent. In the second quarter of 2023, the annual increase in the trade deficit went up by 0.1 percent, while the trade deficit in the third quarter of 2022 posted an annual increment of 40.2 percent. (Tables A and 1)
B. Agricultural Exports
1. Agricultural exports went down by 13.3 percent
The country’s agricultural export revenue dropped to USD 1.61 billion in the third quarter of 2023. This indicates an annual decline of 13.3 percent from the USD 1.86 billion agricultural export revenue in the third quarter of 2022. In the third quarter of 2023, the value of agricultural exports accounted for 8.2 percent of the country’s total exports. (Figure 2, and Tables A and 1)
2. Edible fruit and nuts; peel of citrus fruit melons commodity group accounted for the largest share to the total agricultural exports
The top 10 commodity groups in terms of value of agricultural exports contributed USD 1.56 billion or 96.7 percent to the total agricultural export revenue in the third quarter of 2023. The combined agricultural export value of these top 10 commodity groups posted an annual decrease of 13.5 percent during the quarter.
Among the commodity groups, edible fruit and nuts; peel of citrus fruit melons, which was valued at USD 492.09 million, comprised the largest share of 30.5 percent to the total agricultural exports in the third quarter of 2023. (Figure 3 and Table 3)
3. Malaysia led as a trading partner in agricultural exports among Association of Southeast Asian Nations (ASEAN) member countries
The country’s agricultural exports to ASEAN member countries in the third quarter of 2023 amounted to USD 182.98 million, which accounted for 6.2 percent of the total value of exports to ASEAN member countries. Among the ASEAN member countries, Malaysia was the top buyer of agricultural exports worth USD 53.88 million or a share of 29.4 percent to the total value of agricultural exports to ASEAN member countries in the third quarter of 2023. (Figure 4 and Table 7)
4. Tobacco and manufactured tobacco substitutes commodity group was the top agricultural exports to ASEAN member countries
The top three major agricultural commodities exported to ASEAN member countries in the third quarter of 2023 were:
a. tobacco and manufactured tobacco substitutes, USD 65.05 million;
b. animal or vegetable fats and oils and their cleavage products; prepared edible fats; animal or vegetable waxes, USD 29.55 million; and
c. fish and crustaceans, molluscs and other aquatic invertebrates, USD 17.44 million. (Table 7)
5. Netherlands was the country’s major trading partner in the exports of agricultural goods among European Union (EU) member countries
Exports of agricultural goods to EU member countries in the third quarter of 2023 reached USD 285.19 million, which contributed 12.5 percent to the country’s total value of exports to EU member countries.
Among the EU member countries, Netherlands was the country’s top destination of agricultural commodities worth USD 150.44 million or 52.8 percent of the total agricultural exports to EU member countries for this quarter of 2023. (Figure 5 and Table 9)
6. Animal or vegetable fats and oils and their cleavage products; prepared edible fats; animal or vegetable waxes commodity group was the top agricultural exports to EU member countries
The top three major agricultural commodities exported to EU member countries in the third quarter of 2023 were:
a. animal or vegetable fats and oils and their cleavage products; prepared edible fats; animal or vegetable waxes, USD 148.89 million;
b. preparations of meat, of fish, or of crustaceans, molluscs and other aquatic invertebrates, USD 50.30 million; and
c. preparations of vegetables, fruit, nuts or other parts of plants, USD 23.52 million. (Table 9)
C. Agricultural Imports
1. Agricultural imports decreased annually by 11.5 percent
The total agricultural imports was valued at USD 4.59 billion, representing a share of 14.6 percent to the country’s total imports in the third quarter of 2023. It registered a decline of 11.5 percent from the USD 5.18 billion worth of agricultural imports in the third quarter of 2022. (Figure 6, and Tables A and 1).
2. Cereals commodity group accounted for the highest value of agricultural imports
The top 10 commodity groups in terms of value of agricultural imports amounted to USD 3.92 billion or 85.4 percent of the total agricultural import revenue in the third quarter of 2023. The combined agricultural import value of these top 10 commodity groups posted an annual decrement of 12.6 percent during the third quarter of 2023 relative to its same quarter value in 2022.
Among the major commodity groups, cereals accounted for the largest share worth USD 969.89 million or 21.1 percent of the total value of agricultural imports in the third quarter of 2023. (Figure 7 and Table 5)
3. Vietnam reported the highest agricultural import value among ASEAN member countries
The country’s agricultural imports from ASEAN member countries in the third quarter of 2023 amounted to USD 1.72 billion or 18.6 percent of the country’s total imports. In terms of value, Vietnam was the leading supplier of agricultural products to the Philippines among ASEAN member countries. It contributed USD 539.32 million or 31.3 percent to the country’s total value of agricultural imports from ASEAN member countries in the third quarter of 2023. (Figure 8 and Table 8)
4. Cereals commodity group was the top imported agricultural commodity from ASEAN member countries
The top three imported agricultural goods from ASEAN member countries in the third quarter of 2023 were:
a. cereals, USD 414.20 million;
b. miscellaneous edible preparations, USD 333.39 million; and
c. sugars and sugar confectionary, USD 290.71 million. (Table 8)
5. Spain led EU member countries in agricultural imports
The country’s agricultural imports from EU member countries amounted to USD 382.34 million or a share of 20.5 percent to the total value of imports in the third quarter of 2023. Among EU member countries, Spain was the country’s top supplier of agricultural commodities with an import value of USD 91.69 million or a share of 24.0 percent to the country’s total value of agricultural imports from EU member countries. (Figure 9 and Table 10)
6. Meat and edible meat offal commodity group topped agricultural imports from EU member countries
The top three agricultural commodities imported from EU member countries in the third quarter of 2023 were:
a. meat and edible meat offal, USD 100.79 million;
b. dairy produce; birds’ eggs; natural honey; edible products of animal origin, not elsewhere classified, USD 84.74 million; and
c. residues and waste from the food industries; prepared animal fodder, USD 39.96 million. (Table 10)
DIVINA GRACIA L. DEL PRADO, PhD
Assistant Secretary
Deputy National Statistician
Sectoral Statistics Office
