MANILA, Feb. 7 (Xinhua) -- The Philippines ended 2025 with a sharply narrower agricultural trade deficit in December, as a surge in farm exports, led by tropical fruits, combined with softer imports to ease pressure on external accounts, the country's Department of Agriculture (DA) said Saturday.
"We are now reaping the gains of our efforts to widen our menu of farm export products and open new markets," said Agriculture Secretary Francisco Tiu Laurel Jr., adding that last year's export growth strengthens the case for pushing deeper into new destinations and higher-value goods.
Data from the Philippine Statistics Authority showed agricultural exports reached 884.77 million U.S. dollars in December, or 36 percent of total agricultural trade, while imports stood at 1.55 billion dollars, or 64 percent. This resulted in a trade deficit of 668.35 million dollars, 27 percent narrower than that recorded in December 2024.
To further broaden the export base, the DA said it has identified 12 high-value crops for global markets, including banana, mango, pineapple, and durian, targeting stronger margins and demand in Asian and European markets. ■