TRADE in agricultural goods rebounded last year, expanding by 19.8 percent following a 7.1-percent contraction in 2020, the Philippine Statistics Authority reported on Monday.

Total agricultural trade amounted to $22.49 billion in 2021 on the back of export and import gains. It was $18.8 billion a year earlier, down from 2019’s $20.2 billion as a result of the Covid-19 pandemic.

Agricultural exports hit $6.79 billion, 9.4 percent higher year on year, while imports surged 24.9 percent to $15.71 billion.

The agriculture trade deficit subsequently widened to $8.92 billion, 39.9 percent higher, following 7.0- and 2.1-percent contractions in 2020 and 2019, respectively.

As a share of total Philippine exports and imports in 2021, agricultural goods accounted for 9.1 percent and 13.3 percent, respectively.

By commodity, edible fruits and nuts, and the peel of citrus fruit melons took the largest share of Philippine agricultural exports. At $1.93 billion, it comprised 28.5 percent of the total.

Cereals, meanwhile, were the biggest agricultural import at $3.15 billion or 20 percent of the total.

By market, Malaysia was the top ASEAN destination of Philippine agricultural exports, accounting for $247.95 million. In the European Union, the biggest buyer was the Netherlands at $698.11 million.

For imports, the Philippines bought $1.65-billion worth of agricultural goods from Indonesia, which was the largest supplier among Asean countries. Spain was the top EU supplier at $333.5 million. (Eireene Jairee Gomez)