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AGRICULTURAL ECONOMICS

Florete | Hallasgo | Mondido | Parcon | Tesoro


MLS 2A

Definition
Agriculture
The science, art, and business of cultivating
soil, producing crops, and raising livestock;
farming.

Definition according to Economics


Agricultural Economics
study of the allocation, distribution, and
utilization of the resources used, along with the
commodities produced, by farming. Agricultural
economics plays a role in the economics of
development, for a continuous level of farm
surplus is one of the wellsprings of
technological and commercial growth

Significance

Share of agriculture in the National income

Source of livelihood of the citizens

Dependency of industrial development on


agriculture

Role of agriculture in the field of international


trade

Supply of food and food security

Issues in Agriculture

Supplying the growing global demand for


commodities
Availability and price of land for expansion
New government mandates and regulations
Stability, development and fluctuation in
global market
Impact of global trade policies on food
security ,the supply and demand for
commodities
Development and use of bio-based fuels

Performance of Philippine Agriculture

Source: http://www.bas.gov.ph

Source: http://www.bas.gov.ph

Source: http://www.bas.gov.ph

Source: http://www.bas.gov.ph

Source: http://www.bas.gov.ph

Source: http://www.bas.gov.ph

Trade

Source: http://www.bas.gov.ph

Trade

Source: http://www.bas.gov.ph

Philippine Agricultural Products for Import


and Export
Since

1980s, the Philippines have opened their


economy to foreign markets, and established a
network of free trade agreements with several
countries.
The

United States is one of the


Philippines top trading partner.

Philippine Agricultural Products for Import


and Export

In 2010, according to US Department of


Commerce , trade between the Philippines
and US amounts to US$15.4 billion.

US is also the Philippines largest foreign


investor, with foreign direct investment close
to US$6 billion at the end of 2009.

Economy
GNI (at current prices):

P 13,851 billion

(at constant 2000 prices):

P 8,069 billion

GDP (at current prices):

P 11,548 billion

(at constant 2000 prices):

P 6,765 billion

Share of agriculture in GDP

10%

GVA in agriculture and fishing


(at current prices):

P 1,293 billion

(at constant 2000 prices):

P 701 billion

Distribution by sub-sector:

Crops: 50%:
palay 21% , corn 6%
coconut 4%, banana 5%
sugarcane 2% , mango 2%, pineapple 2%, others
8%
Livestock: 13%
Poultry: 11%
Fishery: 19%
Agricultural activities and services : 7%

Production
Palay:

18.44 million metric tons

Corn:

7.38 million metric tons

Hog:

2.01 million metric tons

Chicken:

1.56 million metric tons

Number of Agricultural
4.82 million
Farms: (2002)
Palay:

2.15 million

Corn:

1.46 million

Coconut:

2.60 million

Sugarcane:

0.17 million

Source: http://countrystat.bas.gov.ph/?cont=3

Agricultural Employment
Total employment :

38.12 million persons

Agricultural employment :

11.84 million persons

Share of agriculture:

31%

Agricultural wage rates per


day:
(January to June, in nominal

terms)
palay workers

P 256.52

corn workers

P 206.04

Source: http://countrystat.bas.gov.ph/?cont=3

Share of agriculture in Total Employment


Series 1
33.5
33
32.5
32

Series 1

31.5
31
30.5
30

2011

2012

Source: http://countrystat.bas.gov.ph/?cont=3

2013

External Trade
Value of total agricultural
exports:
% agriculture in total
exports:
Top agricultural export
commodities:

US$ 6,318 million f.o.b.


12%
coconut oil (15%), banana fresh (14%),
tuna (11%), pineapple and products (7%)

Major markets:
coconut oil:
banana fresh:
tuna:
pineapple and products:
Value of total agricultural
imports:
% agriculture in total
imports:
Top agricultural import
commodities:

USA (43%), Netherlands (29%)


Japan (36%), China (14%)
USA (21%), Germany (13%)
USA (42%), Japan a(17%)

US$ 7,802 million c.i.f.


12%
wheat & meslin (11%), soyabean oil/cake meal (10%), milk & cream& products
(10%)

Major suppliers:
wheat and meslin:
USA (63%), Canada (12%)
soyabean oil/cake meal: USA (50%), Argentina (48%)
milk & cream&
New Zealand (36%), USA (35%)
products:

Agricultural trade deficit:

US$ 1,484 billion

Source: http://countrystat.bas.gov.ph/?cont=3

Growth Rates in the Total Value of


Agricultural Exports and Imports
35
30
25
20
15

exports
imports

10
5
0
2011
-5

2012

-10

Source: http://countrystat.bas.gov.ph/?cont=3

2013

Prices
Producer price index in agriculture: 140.9%
Consumer price index:

All items: 133.9%


Food, and non-alcoholic beverages:
143.7 %

Headline inflation rate:

All items 3.0%


Rice (4.1%), Corn (4.5%), Meat
2.0%), Fish (3.1%), Fruits 4.6%),
Vegetables 2.3%)

Source: http://countrystat.bas.gov.ph/?cont=3

Annual Inflation Rates


6
5
4
All Items
Food and Non
Alcoholic Beverages

3
2
1
0
2011

2012

Source: http://countrystat.bas.gov.ph/?cont=3

2013

End
Florete | Hallasgo | Mondido | Parcon | Tesoro
MLS 2A

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