Total External Trade for Agricultural Commodities reaches $4.554 billion in the fourth quarter of 2016
The Philippine external total trade performance for agricultural commodities increased by 13.6 percent in the fourth quarter of 2016, amounting to $4.554 billion from $4.010 billion during the same period in 2015.
Total export receipts for all commodities expanded by 1.8 percent during the fourth quarter of 2016. Similarly, agricultural exports increased by 34.2 percent to $1.434 billion in the fourth quarter of 2016 from $1.068 billion in the same quarter of 2015. Moreover, share of agricultural exports to total exports went up by 9.8 percent in the fourth quarter 2016 from 7.4 percent in the fourth quarter of 2015.
Similarly, total imports for all commodities also went up by 12.4 percent in the fourth quarter of 2016. Agricultural imports grew by 6.1 percent to $3.120 billion in the fourth quarter of 2016 from $2.941 billion during the same period in 2015.
The share of agricultural imports to total imports declined by 5.6 percent in the fourth quarter of 2016 with 13.8 percent share of agricultural imports to total imports.
Moreover, the country’s agricultural balance of trade reflected a $1.686 billion deficit, lower by 10.0 percent from $1.873 billion deficit in the fourth quarter of 2015 (Table 1).
Japan accounts for largest trade surplus of agricultural commodities in the fourth quarter of 2016
Among the major trading partners for agricultural commodities, Japan posted a trade surplus of $102.97 million in the fourth quarter of 2016. This rose by 134.93 percent from $43.83 million trade surplus during the same period in 2015.
Other major trading partners for agricultural commodities were Australia with trade deficit of $109.91 million; USA with trade deficit of $301.83 million; ASEAN and EU, each with $784.93 million and $15.13 million trade deficit, respectively (Table 2).
Coconut oil leads as top agricultural export commodity
Among the commodity groups, exports of food and live animals posted the highest value reaching $893.40 million in the fourth quarter of 2016. It showed a 3.5 percent increment from the $862.84 million registered during the same quarter of 2015 (Table 3).
Coconut oil (crude and refined) with 28.6 percent share to total agricultural exports was the top grosser among the top ten Philippine agricultural exports. It recorded a high 75.5 percent growth from $233.86 million in the fourth quarter of 2015 to $410.51 million in the same quarter of 2016. Furthermore, USA was the major market, valued at $191.49 million accounting for 46.6 percent share to total coconut oil exports (Table 4).
Bananas, fresh ranking second posted a share of 12.0 percent. It went up by 113.5 percent from $80.87 million in the fourth quarter of 2015 to $172.64 million in the same quarter of 2016. Total fresh banana exports to Japan accounted for 36.2 percent of the total banana export or amounting to $62.57 million in 2016 (Table 5).
Pineapple and its products ranked third, recording a share of 10.7 percent of the total agricultural exports. It grew by 2.5 percent from $150.04 million in the fourth quarter of 2015 to $153.76 million in the same period of 2016. The bulk of outward shipment of this product went to USA, valued at $59.01 million.
Tuna, ranked fourth, with a 5.5 percent share to total agricultural exports, recorded an increase of 39.2 percent during the fourth quarter of 2016 from $56.58 million in the same period of 2015 to $78.76 million in 2016. Japan accounted for the largest export of tuna worth $12.90 million.
Coconut products, ranked fifth, was estimated at $76.84 million in the fourth quarter of 2016 accounting for 5.4 percent of the total agricultural exports. It posted a growth of 38.7 percent. About 42.0 percent of the total value of coconut products was shipped to USA.
Completing the list of top ten agricultural exports for the fourth quarter of 2016 were: Seaweeds and Carrageenan, $49.34 million, increased by 17.6 percent; Tobacco manufactured, $33.38 million, decreased by 29.6 percent; Tobacco unmanufactured, $20.34 million, improved by 14.50 percent; rubber, $18.39 million, surged by 68.6 percent; and shrimps and prawns, $18.20 million, posted an increment of 87.3 percent. Outward shipments of these products were mostly destined to USA, Thailand, Republic of Korea, Malaysia and Japan (Table 4 and 5).
Wheat and meslin tops agricultural import commodity
Among the major commodity groups, food and live animals generated the highest total agricultural import valued at $2,186.86 million in the fourth quarter of 2016. It decreased by 1.7 percent from $2,224.33 million in the same quarter of 2015. (Table 6).
Wheat (including spelt) and meslin posting an 8.4 percent share to total value of agricultural imports led the top ten Philippine agricultural imports. It dropped by 5.2 percent in the fourth quarter of 2016 from $278.15 million registered during the same period in 2015. Imports of this product came mostly from the USA accounting for 51 percent (Table 7 and 8).
Soya bean oil/cake meal remained as the second top grosser with 8.1 percent share to total value of agricultural imports. This product have grown by 8.4 percent from $233.41 million in the same period of previous year to $252.89 million in 2016. It was obtained mostly from the USA accounting for 79.7 percent of the total value of imports of soya bean oil/cake meal.
Milk, cream and related products which ranked third, have a 5.3 percent share of the total agricultural imports. This product registered a growth of 27.4 percent from $129.32 million during the fourth quarter of 2015 to $164.80 million in 2016. The USA was the top supplier of milk, cream and related products to the Philippines comprising 36.7 percent of the total value of imports of this product.
Coffee, ranked fourth, reflecting a 3.7 percent share to the total value at $114.14 million. It rose by 24.7 percent with a recorded value of $91.50 million in the fourth quarter of 2015. It was heavily imported from Indonesia accounting for more than 64.9 percent.
Frozen meat of bovine animals ranked fifth accounting for almost 3.0 percent share of the total value of agricultural imports. Imports of this product increased from $79.20 million in the fourth quarter of 2015 to $93.15 million during the same period in 2016, representing a positive growth of 17.6 percent. Australia with 32.5 percent share, led the countries where this product was imported.
Completing the list for the top ten agricultural imports for the fourth quarter of 2016 were the following: cocoa, $72.16 million, increased by almost 30.0 percent; rice, $64.07 million, decreased by 78.6 percent; fertilizer, manufactured, $61.41 million, increased by 3.5 percent; frozen chicken meat, $58.64 million, surged by 27.9 percent; and urea, $47.64 million, increased by 2.1 percent. Among the major countries that supplied these products were: USA, Vietnam, People’s Republic of China and Indonesia (Table 7 and 8).
TRADING WITH ASEAN MEMBER COUNTRIES
The country’s agricultural exports with the ASEAN member countries for the fourth quarter of 2016 was valued at $157.93 million registering a 7.2 percent share of the total export receipts of the country. On the other hand, total agricultural imports from ASEAN-member countries during the same period was $942.86 million, with 15.7 percent share of the total import. Among the ASEAN-member countries, Malaysia led as the country’s top trading partner in terms of agricultural exports with $59.70 million or 37.8 percent of the total agricultural export receipts. On the other hand, Indonesia was the country’s top trading partner in terms of agricultural imports valued at $300.57 million or a 31.9 percent share to total agricultural import payment from ASEAN.
Top 5 agricultural goods exported to the ASEAN-member countries in the fourth quarter of 2016 were the following: Tobacco and tobacco manufactures $31.22 million; Fixed vegetable oil and fats, $21.28 million; Crude rubber, $15.97 million; .Vegetables and fruits, $12.24 million and Cereals and cereal preparations $11.87 million.
Similarly, the top 5 imported major agricultural goods from the ASEAN-member countries were: Animal and vegetable oils and fats, $198.28 million, Miscellaneous edible products and preparations, $153.71 million; Coffee, tea, cocoa, spices and manufactures thereof, $136.42 million, Cereals and cereals preparations, $131.15 million; Agricultural chemicals and materials, $46.79 million (Table 9 and 10).
TOTAL TRADE WITH EU MEMBER COUNTRIES
Outward shipment of agricultural goods with EU-member countries for the fourth quarter of 2016 reached $294.35 million or 18.1 percent of the country’s total exports. On the other hand, agricultural import from EU-member countries was valued at $309.49 million or 16.4 percent share to total imports of EU-member countries. Netherlands was the country’s top trading partner among the EU-member countries with agricultural exports amounting to $160.75 million or 54.6 percent of the total agricultural exports to EU. On the other hand, Germany led the EU-member countries in terms of agricultural imports amounting to $67.92 million with a percent share of 21.9 percent of the total agricultural imports from EU.
Fixed vegetable oils and fats with $161.03 million export value led the top agricultural exports to the EU-member countries in the fourth quarter of 2016. It was followed by the following: Fish and fish preparations, $55.44 million; Vegetables and fruits, $46.38 million; Crude animals and vegetable materials, $19.23 million; and Tobacco and tobacco manufactures, $4.8 million.
In addition, the top five major imported commodities from the EU-member countries were: Meat and meat preparations, $86.11 million; Feeding stuff for animals, $40.10 million; Dairy products and birds eggs, $35.78 million; Agricultural machinery, $33.51 million and Miscellaneous edible products and preparations, $20.99 million (Table 11 and 12).
This Special Release (SR) features the Agricultural Foreign Trade Statistics of the Philippines for the fourth quarter of 2016. The total agricultural exports and imports stated in this report are generated from all final tables of the monthly Merchandise Export Performance and consolidated monthly External Trade Performances for the country in 2015.
The commodities are classified in accordance with the ten-digit 2004 Philippine Standard Commodity Classification (PSCC). The agricultural commodity groups are from chapters 1 to 24 and selected commodities of chapters 84 and 85 of the 2004 PSCC. Chapter 1 to 24 relates to commodity classifications for live animals, vegetables, fats, oils and waxes, foodstuffs, vinegar, tobacco (manufactured and unmanufactured) while selected commodities of Chapters 84 and 85 pertains to classification for agricultural machinery and equipment.
However, agricultural commodities as presented in this SR are still grouped in accordance with the 1999 PSCC at the seven digit levels to be consistent with other quarterly publications in 2016.
Beginning with the 2017 agricultural commodity classifications for exports and imports, SR shall be presented according to the chapters and Harmonized System (HS) groupings for agricultural commodities of the 2015 PSCC.