The Philippines saw a steep drop in agricultural export earnings in August, with revenues falling to their lowest level in more than two years despite a strong increase in the country’s overall merchandise exports.
The latest data from the Philippine Statistics Authority (PSA) showed that agricultural exports totaled US$554.7 millionin August 2026, a 26.1% decline from the $750.57 million recorded during the same month last year.
The figure was also the lowest monthly agricultural export revenue since January 2024, when the country posted $545.25 million.
Fruits Account for Biggest Share
Agricultural products made up 6.1% of the Philippines’ total exports in August, with edible fruits and nuts emerging as the country’s top agricultural export group.
The category, which includes citrus peels and melon rinds, brought in $211.99 million, accounting for 38.2% of total agricultural export earnings.
Other major contributors included animal, vegetable, or microbial fats and oils with $135.74 million, followed by tobacco and manufactured tobacco substitutes at $38.50 million.
Preparations made from vegetables, fruits, nuts, and other plant parts generated $35.47 million, while fish, crustaceans, molluscs, and other aquatic invertebrates contributed $32.40 million.
Malaysia Leads ASEAN Demand
The Philippines exported $67.15 million worth of agricultural products to ASEAN member states in August, representing 5.1% of the country’s total exports to the regional bloc.
Malaysia accounted for the largest share among ASEAN markets, buying $27.82 million worth of Philippine agricultural goods. This represented 41.4% of the country’s agricultural exports to ASEAN during the month.
Exports to European Union member states, meanwhile, reached $65.50 million. The Netherlands was the leading EU destination, receiving $36.70 million worth of Philippine agricultural commodities.
Export Growth Fueled by Broader Merchandise Gains
The agricultural export slump came as the country’s broader export sector posted one of its strongest performances in decades.
Preliminary PSA figures showed that total merchandise exports climbed 27.8% to $9.11 billion in August 2026, the highest monthly level recorded in the past 35 years.
The Department of Agriculture also recently highlighted growing international demand for Philippine tropical fruits. Filipino exporters and growers secured $290 million in booked and negotiated sales during an agricultural expo in Hong Kong.
The deals covered Cavendish and Cardava bananas, durian, mangoes, and dragon fruit, pointing to continued opportunities for Philippine producers in overseas markets.
