PH agro-based exports rise by 6%

FILE: Philippine agro-based exports grew 6 percent in 2017 from 2016 figures, the Philippine Statistics Authority (PSA) has reported. (Pixabay photo)

MANILA — Philippine agro-based exports grew 6 percent in 2017 from 2016 figures, the Philippine Statistics Authority (PSA) has reported.

Freight on board (FOB) receipts covering outbound shipments rose to USD4.2 billion from less than USD4 billion in 2016, PSA data showed.

Such rise helped total Philippine exports to grow 9.5 percent to almost
USD63 billion in 2017 from USD57.4 billion the year earlier.

Coconut products registered receipts totaling USD1.8 billion, up 26.8 percent from 2016’s USD1.4 billion.

Export of sugar and related products also grew 47.2 percent to nearly
USD155 million from 105.3 million in 2016.

Fruit and vegetable exports, though, declined 14.1 percent to USD1.4 billion from almost USD1.6 billion in the previous year.

Export receipts for other agro-based products grew 3 percent to
nearly USD891 million in 2017 from USD864.3 million in 2016, the PSA data showed further.

The PSA reported gains for natural rubber (148.7 percent), abaca fibers (46.5 percent) and unmanufactured tobacco (34 percent).

Receipts for natural rubber hit almost USD93 million in 2017 from USD37.4 million in 2016. Abaca fiber exports amounted USD30 million from USD20.2 million a year ago.

Unmanufactured tobacco exports in 2017 were valued at USD100.3 million from 2016’s USD74.9 million.

Receipts were, however, lower last year for fresh or preserved fish (-3.5 percent), raw and unroasted coffee (91.4 percent), dried seaweeds (-4.5 percent), rice (-14.3 percent), and other agro-based products (20.9 percent).