Agricultural trade reaches US$2.47 billion in June 2026, up 8.5% YoY, trade deficit widens to US$ 1.06 billion

The country’s total agricultural trade expanded by 8.5 percent year-on-year in June 2026 to reach USD 2.47 billion, driven primarily by strong import volumes, according to preliminary data released by the Philippine Statistics Authority (PSA).

Despite the annual growth, June’s performance represented the lowest monthly total agricultural trade recorded since February 2026 (USD 2.46 billion). Year-on-year trade growth in previous months stood at 8.3 percent in May 2026 and 13.1 percent in June 2025.

Key highlights:

• Imports Outpace Exports: Agricultural imports dominated total trade, accounting for 71.4 percent (USD 1.77 billion), while agricultural exports comprised 28.6 percent (USD 706.92 million).

• Widening Trade Deficit: The agricultural trade balance recorded a deficit of USD -1.06 billion, representing a 30.3 percent increase in deficit year-on-year. This compares to a 1.2 percent deficit expansion in May 2026 and a 5.2 percent contraction in June 2025. June’s deficit was the narrowest since April 2026 (USD -667.35 million).

• Export Revenue Softens: Total agricultural export earnings fell 3.6 percent year-on-year to USD 706.92 million from USD 732.95 million in June 2025. This marks the lowest monthly export value since February 2025 (USD 700.35 million). Agricultural exports accounted for 8.1 percent of the nation’s total export revenue during the month.

Leading export commodity groups

The top 10 agricultural export commodity groups generated USD 686.02 million, making up 97.0 percent of total agricultural export revenues in June 2026. Combined revenues for these top 10 groups declined by 3.7 percent annually.

• Fats and Oils Lead Exports: Animal, vegetable, or microbial fats and oils and their cleavage products; prepared edible fats; animal or vegetable waxes remained the country’s primary agricultural export, earning USD 242.25 million and accounting for 34.3 percent of total agricultural exports.

Regional trade performance

• ASEAN Region: Agricultural exports to ASEAN member states totaled USD 72.87 million, representing 5.3 percent of the country’s total export value to the region. Malaysia emerged as the top buyer, absorbing USD 30.50 million or 41.8 percent of all agricultural exports sent to ASEAN countries.

• European Union (EU): Agricultural exports to the EU were heavily concentrated in three key product groups:

  1. Fats and Oils (Animal/Vegetable/Microbial): USD 151.20 million (77.2% share of EU agricultural exports)

  2. Preparations of Vegetables, Fruit, and Nuts: USD 13.35 million (6.8% share)

  3. Preparations of Meat, Fish, and Aquatic Invertebrates: USD 10.83 million (5.5% share)