The country’s total agricultural trade in March 2026 reached USD 2.62 billion, reflecting a 6.5 percent increase compared to the same period last year, according to the latest data from the Philippine Statistics Authority (PSA). This marks the highest recorded agricultural trade level since September 2025.
Despite the year-on-year growth, the figure follows stronger annual increases recorded in previous months, including 9.7 percent in February 2026 and 17.4 percent in March 2025.
Agricultural exports in March 2026 were valued at USD 727.17 million, accounting for 27.7 percent of total agricultural trade. Meanwhile, imports totaled USD 1.90 billion, representing a dominant 72.3 percent share.
The country’s balance of trade in agricultural goods registered a deficit of USD 1.17 billion, widening by 21.9 percent compared to March 2025. This marks the largest trade deficit since May 2024. For comparison, the agricultural trade deficit posted smaller annual increases of 2.0 percent in February 2026 and 9.9 percent in March 2025.
Export performance showed signs of weakening, with agricultural export revenues declining by 3.3 percent from USD 752.33 million in March 2025 to USD 727.17 million in March 2026. This also represents the lowest export value recorded since January 2026. Agricultural exports accounted for 8.9 percent of the country’s total exports during the month.
In terms of regional trade, exports to ASEAN member countries amounted to USD 56.60 million, comprising 4.7 percent of total exports to the region. Malaysia emerged as the top ASEAN destination, accounting for USD 16.56 million or 29.3 percent of agricultural exports within the bloc.
Exports to European Union (EU) member countries reached USD 181.29 million, contributing 19.1 percent to the country’s total exports to the EU. The Netherlands was the leading destination within the EU, with agricultural exports valued at USD 102.77 million, or 56.7 percent of total exports to the region.
The latest figures highlight continued growth in overall agricultural trade, driven largely by imports, while export performance and the widening trade deficit remain key areas for monitoring.
