Agricultural trade continued to fall in the last quarter of 2020, underlining the adverse impact of the coronavirus pandemic on industries that were reliant on the global market.
From October to December last year, the Philippine Statistics Authority (PSA) said the value of the country’s agricultural trade dropped to $4.66 billion from $4.97 billion in the third quarter. On an annual basis, this is lower by 7 percent.
Earnings from imports and exports consistently declined for the entire year mainly due to lockdown measures implemented globally.
Exports of agricultural goods in the fourth quarter amounted to $1.47 billion while imports hit $3.19 billion. The trade gap of $1.72 b…
Keep on reading: Agri trade further slipped in Q4