The Philippines’ agricultural trade in January 2025 reached US$2.43 billion, marking a 15.4 percent year-on-year increase with agricultural exports soaring to US$715.25 million, a significant 32.8 percent increase from US$538.68 million in January 2024.
Data from the Philippine Statistics Authority (PSA) also showed that the January agricultural trade followed the annual growth of 13.1 percent in December 2024 and 10.6 percent in January 2024.
The US$715.25 million agricultural exports in January 2025, accounted for 29.4 percent of the total agricultural trade. Meanwhile, agricultural imports amounted to US$1.72 billion, making up 70.6 percent of the total agricultural trade.
Agricultural Trade Balance: A Slight Decline
The country’s agricultural trade balance registered a deficit of US$1.00 billion in January 2025, reflecting a 2.8 percent decrease compared to the same period the previous year. In contrast, the trade deficit showed a notable annual decline of 10.7 percent in December 2024, while January 2024 saw a year-on-year increase of 8.1 percent.
Top Performing Commodity Groups
The top 10 agricultural commodity groups contributed US$699.89 million, or 97.9 percent, to the total agricultural export revenue in January 2025. These commodity groups saw a combined annual growth of 33.6 percent.
The largest share of agricultural exports came from the group of animal, vegetable, or microbial fats and oils, their cleavage products, prepared edible fats, and animal or vegetable waxes. Valued at US$263.87 million, this category made up 36.9 percent of the total agricultural exports in January 2025.
ASEAN Trading Partners: Malaysia Leads
In January 2025, the Philippines’ agricultural exports to ASEAN member countries totaled US$118.19 million, or 12.4 percent of the total agricultural exports. Among ASEAN nations, Malaysia emerged as the leading importer, purchasing US$77.56 million in agricultural products, or 65.6 percent of the Philippines’ agricultural exports to the region.
