Agri trade deficit widens to $890 M in March

The country's agricultural trade deficit in March widened by two percent year-on-year to nearly $890 million, according to the Philippine Statistics Authority.

- By JASPER EMMANUEL ARCALAS

The PSA said agricultural trade deficit in March hit $889.15 million, about two percent higher than the $872.13 million recorded in the same month last year.

The country's total agricultural trade during the reference period hit $2.32 billion, up by 10.6 percent from the $2.1 billion recorded a year ago, the PSA said.

The PSA noted that 69.2 percent of the agricultural trade were imports while the remaining 30.8 percent were exports.

The country's agricultural exports rose by 16.7 percent to $715.76 million from $613.26 million.

Agricultural imports, meanwhile, increased by eight percent to $1.6 billion from $1.49 billion.