The Philippine Statistics Authority (PSA) has announced a robust 10.6 percent year-on-year increase in the country’s total agricultural trade for March 2025, reaching USD 2.32 billion. This growth follows a higher annual increase of 20.2 percent recorded in February 2025, contrasting with an 8.5 percent annual decrease observed in March 2024.
In March 2025, agricultural exports amounted to USD 715.76 million, representing 30.8 percent of the total agricultural trade. Meanwhile, agricultural imports accounted for USD 1.60 billion, holding a 69.2 percent share.
The balance of trade in agricultural goods resulted in a deficit of USD -889.15 million in March 2025. This reflects a modest annual increase of 2.0 percent in the trade deficit, compared to a 17.0 percent annual increase in February 2025 and a significant 18.7 percent annual decrease in March 2024.
Driving the overall growth, the country’s agricultural export revenue saw a substantial 16.7 percent annual increment, climbing to USD 715.76 million in March 2025 from USD 613.26 million in the same period last year. The value of agricultural exports in March 2025 constituted 10.9 percent of the Philippines’ total exports.
The top 10 agricultural commodity groups contributed significantly to this export performance, accounting for USD 694.22 million or 97.0 percent of the total agricultural export revenue in March 2025. The combined export value of these leading commodities registered an impressive annual increase of 17.8 percent during the month.
Leading the pack among these commodity groups were “Animal, vegetable, or microbial fats and oils and their cleavage products, prepared edible fats; animal or vegetable waxes,” which were valued at USD 249.13 million, making up the largest share of 34.8 percent of the total agricultural exports in March 2025.
Exports to ASEAN member countries reached USD 78.02 million in March 2025, representing 8.6 percent of the total value of exports to the ASEAN region. Indonesia emerged as the top buyer within ASEAN, with agricultural imports valued at USD 24.90 million, or 31.9 percent of the total agricultural exports to ASEAN member states. The top three agricultural commodities exported to ASEAN were:
- Animal, vegetable, or microbial fats and oils and their cleavage products; prepared edible fats; animal or vegetable waxes (USD 32.67 million)
- Tobacco and manufactured tobacco substitutes; products, whether or not containing nicotine, intended for inhalation without combustion; other nicotine-containing products intended for the intake of nicotine into the human body (USD 19.94 million)
- Cocoa and cocoa preparations (USD 4.73 million)
Agricultural exports to EU member countries also showed strength, reaching USD 137.00 million in March 2025, contributing 18.9 percent to the country’s total exports to the EU. The Netherlands was the primary destination for these exports within the EU, with imports valued at USD 77.58 million, or 56.6 percent of the total agricultural exports to EU member countries.
