Top Agricultural Import & Export Products of the Philippines in 2024

The Philippines' agricultural industry is booming, and the country exports a large amount of goods like sugar, bananas, pineapple, and coconut oil. Agriculture is the 3rd largest sector in the Philippines. According to the data for 2023, the Philippines' agricultural industry makes up 8.6% of the country’s total GDP and 20% of the country’s employment. But because of several variables, including the country's climate, the amount of arable land available, and variations in domestic output, the nation also needs imports to keep a steady supply of some agricultural products.  

The Philippines' agricultural imports had a total value of $17.92 billion in 2023, while the agricultural products exports from the Philippines accounted for $6.43 billion in 2023. 

In the first six months of 2024, the Philippines' overall agricultural trade was valued at $6.07 billion, representing a 2.6% yearly growth. The Philippines' agricultural imports made up $4.34 billion, while total agricultural exports from the  Philippines were reported at $1.72 billion, or 28.4% share and or 71.6% of the overall agricultural trade globally, in 2024.

Philippines' Top Agricultural Import Products

Even though it is a major agricultural producer, the nation's economy depends on imports of specific agricultural products to meet the demands of its expanding population.

• The Philippines' agricultural imports accounted for $17.92 billion in 2023. 
• Cereals were the Philippines' most important agricultural import in 2023, with imports totaling over $4 billion. 
• With an estimated import value of $2.23 billion, residues and waste from the food industry ranked as the second most valuable commodity group. 
• In 2024 Q1, the Philippines' top 10 product groupings by value of agricultural imports brought in $3.74 billion, or 86.2 % of the overall revenue from agricultural imports. 
• In 2024 Q1, cereals made up the greatest portion of agricultural imports, totaling $1.17 billion or 27.0% of the overall value of imports. 

The Top Agricultural Import Products of the Philippines in 2023 include:

1. Wheat: $1.99 billion 

Another vital agricultural product imported by the Philippines is wheat. It is a main component of bread and other baked items that Filipinos eat in large quantities. Wheat imports by the Philippines had a total import quantity of 5.54 million tons in 2023. The 4-digit HS code for wheat is 1001. 

2. Meat and Livestock: $1.83 billion 

To supplement its domestic supply and satisfy the growing demand for meals high in protein, the Philippines imports a variety of meat products and livestock. The 2-digit hs code for meat is 02. 

3. Rice: $1.63 billion 

In addition to being one of the most popular agricultural goods imported into the Philippines, rice is a staple diet there. Rice imports from the Philippines had a total quantity of 3.61 million tons in 2023. The 4-digit HS code for rice is 1006. 

4. Dairy Products: $1.28 billion 

Dairy products such as milk, cheese, and butter are also among the top agricultural import products in the Philippines. The country imports dairy products to support its food processing industry. The two-digit HS code for dairy products is 04. 

5. Sugar: $1.03 billion

Sugar is another key agricultural import product in the Philippines. The country imports sugar to meet the demand for this sweetener and to support its food and beverage industry. The two-digit HS code for sugar is 17. 

6. Fish and Seafood: $786.24 million

The Philippines also imports fish and seafood products. These imports are necessary to meet the demands of consumers and support its fishing industry. The two-digit HS code for fish and seafood is 03. 

7. Vegetables and Fruits: $775.26 million

The Philippines is a tropical nation with an abundance of produce, but to meet customer tastes and deal with seasonal shortages, some fruits and vegetables are imported. The two-digit HS code for vegetables and fruits is 20. 

8. Corn: $296.10 million 

In the Philippines, corn is a vital agricultural product that is used to make a variety of food items and animal feed. Philippines corn imports had a total quantity of 931.30 thousand tons in 2023. The 4-digit HS code for corn is 1005.

9. Coffee: $153.03 million 

The Philippines imports coffee beans to augment its native supply, as the beverage is widely consumed there. The Philippines' coffee imports in 2023 amounted to 49.99 thousand tons. The 4-digit HS code for coffee is 0901.

10. Edible oils: $143.36 million 

To address the need for cooking oil and other food uses, the Philippines imports edible oils like soybean and palm oil. Edible oil imports from the Philippines had a total quantity of 27.45 thousand tons in 2023. The 4-digit HS code for edible oils is 1516. 

Top Agricultural Export Products of the Philippines

On the export side, the Philippines is known for its production and export of tropical fruits such as bananas, pineapples, and mangoes. The country is also a major exporter of coconut products. 

• The Philippines' agricultural exports accounted for $6.43 Billion in 2023. 
• 9.6% of the Philippines' total exports in the first quarter of 2024 came from the value of agricultural exports. 
• In the initial quarter of 2024, the ten most valuable commodity groupings in terms of agricultural exports brought in $1.66 billion, or 96.5%, of the entire revenue from agricultural exports. 
• During 2024 Q1, the total agricultural export value of these top ten commodity groupings showed an annual growth of 10.3%. 
• Edible fruit and nuts valued at $517.96 million, accounted for the highest portion of all agricultural exports in 2024 accounting for 30.1% of total agricultural exports. 

The top 10 agricultural Exports of the Philippines in 2023 include:

1. Edible Fruits and Nuts: $1.95 billion

Edible Fruits and nuts are major exports from the Philippines. According to the Philippines export figures for 2023, the country exported fruits and nuts for $1.95 billion, or 2.7% of total exports, making it one of the country's top agricultural exports. The two-digit HS code for edible fruits and nuts is 08. 

2. Animal, Vegetable, or Microbial Fats and Oils: $1.28 billion

One of the Philippines' top agricultural exports is fats and oils derived from animals, vegetables, or microbes. These products play a crucial role in food processing. The two-digit HS code for animal, vegetable, or microbial fats and oils is 15. 

3. Vegetables, Fruits, Nuts, and Parts of Plants: $743.67 million

Another significant agricultural export of the Philippines is the preparation of vegetables, fruits, nuts, and parts of plants. The two-digit HS code for the preparation of vegetables and parts of plants is 20. 

4. Tobacco and manufactured tobacco substitutes: $525.01 million

Tobacco has been a prominent agricultural product in the Philippines for centuries, with the country being one of the top tobacco producers in Southeast Asia. The 2-digit HS code for Tobacco is 24. 

5. Meat, fish, or other aquatic invertebrates: $452.48 million

Another major agricultural export of the Philippines is the preparation of meat, fish, or other aquatic invertebrates. The country's abundant marine resources have made it a hub for seafood processing. The two-digit HS code for the preparation of meat and fish is 16. 

6. Fish and Seafood: $386.78 million

The Philippines is a first-rate exporter of fish and seafood, with its pristine waters teeming with a huge marine existence. The nation's fish and seafood are in excessive demand in global markets. The two-digit HS code for fish and seafood is 03. 

7. Lac, gums, resins: $285.53 million

Lac, gums, resins, and other vegetable saps are another major agricultural export in the Philippines, with a huge demand worldwide. The two-digit HS code for Lac, gums, and resins is 13. 

8. cereals, flour, milk, and pastrycook products: $267.92 million

Preparations of cereals, flour, and pastrycook products are a developing export from the Philippines, with the nation's pastrycook products being recognized for their rich taste and quality. The two-digit HS code for the preparations of cereal, milk, and pastrycook products is 19. 

9. Miscellaneous edible preparations: $216.47 million

Miscellaneous edible preparations are a popular export from the Philippines, with the nation being recognized for its awesome edible preparation products. The two-digit HS code for miscellaneous edible preparations is 21. 

10. Residues from food industries, prepared animal fodder: $90.85 million

Prepared animal fodder is another critical agricultural export from the Philippines, with the nation being one of the top exporters of animal fodder in the world. The two-digit HS code for prepared animal fodder is 23. 

Conclusion

In conclusion, the Philippines is a key player in the global agricultural market, both as an importer and exporter of various products. From staple food items like rice to tropical fruits, dairy products, poultry products, and coconut products, the country's agricultural sector is diverse and vibrant. By importing essential food items and exporting high-quality products, the Philippines contributes significantly to its economy and plays a crucial role in meeting the food demand of its population. With its rich agricultural resources and strategic position in the global market, the Philippines is poised to continue thriving in the agricultural sector for years to come. 

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