PSA: Agri Exports Up 19.3% from January to October

Export earnings from agro-based products received a total of 19.3% increase according to the Philippine Statistics Authority (PSA). From $2.501 billion recorded in the same period in 2016, the industry has $2.984 billion this year.

Based on the most recent PSA trade data, Agro-based products that have seen an increase in export revenues include:

• Coconut products – from $1.614 billion to $1.121 billion (43.9% higher)
• Coconut oil – from $894.954 million to $1.331 billion (48.8% higher)
• Bananas – from $575.762 million to $592.194 million (2.9% higher)
• Fish and fresh or preserved shrimps – from $374.597 million to $398.023 million (6.3% higher)
• Sugar products – from $104.226 million to $149.012 (43% higher)
• Other agro-based products including seafood – from $689.681 million to $775.745 million (12.5% higher)

Revenues from coconut products took up nearly 45% of the total earnings from agricultural products according to the trade data from the PSA. Coconut oil accounted for 82.46% of the total coconut products exported during the period.

Except for bananas, which accounted for 48.52% of total earning, the value of fruits and vegetables has declined (4.3% lower this year). Fish and fresh or preserved shrimps have accounted for 51.31% of revenues from the export of other agro-based products.

via BusinessMirror / Jasper Y. Arcalas