A.    Total Agricultural Trade

1.    Total agricultural trade increased by 11.8 percent

The country’s total agricultural trade in 2024, which amounted to USD 27.22 billion, posted an annual increase of 11.8 percent. In 2023, the total agricultural trade recorded an annual decrease of 9.2 percent, while an annual increase of 19.0 percent was registered in 2022.

In 2024, total agricultural exports was recorded at USD 7.75 billion or 28.5 percent share to the total agricultural trade, while agricultural imports accounted for USD 19.46 billion or 71.5 percent of the total agricultural trade. (Figure 1, and Tables A and 1)

2.    Agricultural trade balance increased by 1.9 percent

In 2024, the total balance of trade in agricultural goods was recorded at USD -11.71 billion, which reflects a deficit with an annual increase of 1.9 percent. In 2023, the trade deficit registered an annual decrease of 2.7 percent, while an annual increment of 32.8 percent was recorded in 2022. (Tables A and 1)

B.    Agricultural Exports

1.    Agricultural exports grew by 20.6 percent

The country’s agricultural export revenue increased to USD 7.75 billion in 2024. This indicates an annual increment of 20.6 percent from the USD 6.43 billion agricultural export revenue in 2023. The 2024 value of agricultural exports accounted for 10.6 percent of the country’s total exports. (Figure 2, and Tables A and 1)
 

2.    Animal, vegetable, or microbial fats and oils and their cleavage products; prepared edible fats; animal or vegetable waxes commodity group accounted for the largest share to the total agricultural exports

The top 10 commodity groups in terms of value of agricultural exports contributed USD 7.52 billion or 97.0 percent to the total agricultural export revenue in 2024. The combined agricultural export value of these top 10 commodity groups posted an annual increase of 21.2 percent during the year.

Among the commodity groups, animal, vegetable, or microbial fats and oils and their cleavage products; prepared edible fats; animal or vegetable waxes, which was valued at USD 2.35 billion, comprised the largest share of 30.3 percent to the total agricultural exports in 2024. (Figure 3 and Table 3)

3.    Malaysia led as a trading partner in agricultural exports among Association of Southeast Asian Nations (ASEAN) member countries

The country’s agricultural exports to ASEAN member countries in 2024 amounted to USD 1.07 billion, which accounted for 9.7 percent of the total value of exports to ASEAN member countries. Among the ASEAN member countries, Malaysia was the top buyer of agricultural exports worth USD 465.07 million or a share of 43.6 percent to the total value of agricultural exports to ASEAN member countries in 2024. (Figure 4 and Table 7)
 

4.    Animal, vegetable, or microbial fats and oils and their cleavage products; prepared edible fats; animal or vegetable waxes commodity group was the top agricultural exports to ASEAN member countries

The top three major agricultural commodities exported to ASEAN member countries in 2024 were:

a.    animal, vegetable, or microbial fats and oils and their cleavage products; prepared edible fats; animal or vegetable waxes, USD 476.60 million; 
b.    tobacco and manufactured tobacco substitutes; products, whether or not containing nicotine, intended for inhalation without combustion; other nicotine containing products intended for the intake of nicotine into the human body, USD 273.33 million; and 
c.    miscellaneous edible preparations, USD 54.85 million. (Table 7)

5.    Netherlands was the country’s major trading partner in the exports of agricultural goods among European Union (EU) member countries

Exports of agricultural goods to EU member countries in 2024 reached USD 1.53 billion, which contributed 19.0 percent to the country’s total value of exports to EU member countries.

Among the EU member countries, Netherlands was the country’s top destination of agricultural commodities worth USD 788.74 million or 51.5 percent of the total agricultural exports to EU member countries in 2024. (Figure 5 and Table 9)
 

6.    Animal, vegetable, or microbial fats and oils and their cleavage products; prepared edible fats; animal or vegetable waxes commodity group was the top agricultural exports to EU member countries

The top three major agricultural commodities exported to EU member countries in 2024 were:

a.    animal, vegetable, or microbial fats and oils and their cleavage products; prepared edible fats; animal or vegetable waxes, USD 898.45 million;
b.    preparations of meat, of fish, of crustaceans, molluscs or other aquatic invertebrates or of insects, USD 275.99 million; and
c.    preparations of vegetables, fruit, nuts or other parts of plants, USD 106.15 million. (Table 9)

C.    Agricultural Imports

1.    Agricultural imports grew annually by 8.6 percent

The total agricultural imports was valued at USD 19.46 billion, representing a share of 15.3 percent to the country’s total imports in 2024. It registered an increase of 8.6 percent from the USD 17.91 billion worth of agricultural imports in 2023. (Figure 6, and Tables A and 1)

2.    Cereals commodity group accounted for the highest value of agricultural imports

The top 10 commodity groups in terms of value of agricultural imports amounted to USD 16.47 billion or 84.6 percent of the total agricultural import revenue in 2024. The combined agricultural import value of these top 10 commodity groups posted an annual increase of 8.8 percent in 2024 relative to its value in 2023.

Among the major commodity groups, cereals accounted for the largest share worth USD 4.76 billion or 24.5 percent of the total value of agricultural imports in 2024. (Figure 7 and Table 5)

3.    Vietnam reported the highest agricultural import value among ASEAN member countries

The country’s agricultural imports from ASEAN member countries in 2024 amounted to USD 7.61 billion or 21.1 percent of the country’s total imports from ASEAN member countries. In terms of value, Vietnam was the leading supplier of agricultural products to the Philippines among ASEAN member countries. It contributed USD 2.54 billion or 33.3 percent to the country’s total value of agricultural imports from ASEAN member countries in 2024. (Figure 8 and Table 8)

4.    Cereals commodity group was the top imported agricultural commodity from ASEAN member countries

The top three imported agricultural goods from ASEAN member countries in 2024 were:

a.    cereals, USD 2.41 billion;
b.    miscellaneous edible preparations, USD 1.50 billion; and 
c.    animal, vegetable, or microbial fats and oils and their cleavage products; prepared edible fats; animal or vegetable waxes, USD 1.29 billion. (Table 8)

5.    Spain led EU member countries in agricultural imports

The country’s agricultural imports from EU member countries amounted to USD 1.63 billion or a share of 21.8 percent to the total value of imports from EU member countries in 2024. Among EU member countries, Spain was the country’s top supplier of agricultural commodities with an import value of USD 400.69 million or a share of 24.6 percent to the country’s total value of agricultural imports from EU member countries. (Figure 9 and Table 10)
 

6.    Meat and edible meat offal commodity group topped agricultural  imports from EU member countries

The top three agricultural commodities imported from EU member countries in 2024 were:

a.    meat and edible meat offal, USD 449.40 million;
b.    dairy produce; birds’ eggs; natural honey; edible products of animal origin, not elsewhere specified or included, USD 350.57 million; and
c.    residues and waste from the food industries; prepared animal fodder, USD 201.48 million. (Table 10)

DIVINA GRACIA L. DEL PRADO, PhD
Assistant Secretary
Deputy National Statistician
Sectoral Statistics Office