Philippines records US$447.2mn in agricultural sales in 2014

coconut-hansdekker-flickrThe NEDA is working on improving the production of coconut-based commodities as the Philippines is a major exporter. (Image source: Hans Dekker/Flickr) The Philippines’ National Economic and Development Authority (NEDA) has stated that the southeast Asian country recorded US$447.2mn in sales of agricultural products in 2014

The NEDA’s research revealed that the Philippines has registered a 20 per cent growth in agro-sales from 2013. This is largely due to favourable performances from all major sub-groups such as coconut products, fruits and vegetables and sugar products.

Arsenio M Balisacan, economic planning secretary of the Philippines, said, “The exports outlook for agricultural products is bullish. We are intensifying efforts to implement programmes to help areas vulnerable to dry spells and coconut-scale insect infestation. This would propel sales of coconut-based commodities, of which the Philippines is a major exporter.”

Among all major east and southeast Asian economies, the Philippines came second next to China in terms of exports, added the NEDA report. The Philippine Statistics Authority (PSA) reported for the first seven months of 2014, exports sales grew by 8.5 per cent to US$35.1bn, higher than US$32.4bn in the same period last year.

Other nations like Vietnam, Korea, Malaysia, Japan and Singapore also reported an increase in exports this year, added the report.

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