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Philippines' agricultural trade deficit up by 40.3 pct in Q1

MANILA
2022-06-23 17:23

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MANILA, June 23 (Xinhua) -- The Philippines' agricultural trade deficit in the first quarter of 2022 amounted to 2.55 billion U.S. dollars, recording an annual increment of 40.3 percent, the Philippine Statistics Authority (PSA) said Thursday.

In the first quarter, the agency said the total agricultural trade reached 6.45 billion U.S. dollars, an annual growth of 30.8 percent. Agricultural exports and imports were recorded at 1.95 billion U.S. dollars (30.2 percent) and 4.50 billion U.S. dollars (69.8 percent), respectively, the agency added.

Philippine President-elect Ferdinand Romualdez Marcos has said he will reorganize the Department of Agriculture to tackle the "severe enough" problem.
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