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Stability expected for this year but rebound next year
Philippines
Wednesday 18 April 2018
FJ
The Philippines offers a variety of fruits including bananas, pineapples, coconuts and mangos.
After a 3.6% decline in value recorded in the fourth quarter of 2017, Philippines' agriculture and agri-food exports should be stable this year and rebound from 2019.
The share of agricultural exports in the country's total exports has declined from 10.3% in 2016 to 8.4% in 2017. According to EBOF, the organization of processors and exporters, there will be no progress significant increase in exports in 2018.
On the other hand, a growth of at least 3% is expected from 2019. At this date, rice imports which weigh on the trade balance will have decreased thanks to the improvement of the national production and various commercial agreements will enter fully into force to boost exports.
source : business.inquirer.net, philstar.com
