Philippine Agricultural Sector Achieves 1.2% Growth in 2023
Published on: February 7, 2024.
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Philippine Agriculture Sector Shows Growth in 2023
The Philippine agriculture sector experienced a growth of 1.2 percent in 2023, driven by various factors such as increased poultry and livestock production, a rise in fruit harvest, and a record-breaking rice output, according to the Department of Agriculture (DA) in the Philippines.
Agriculture Secretary Francisco Tiu Laurel expressed his satisfaction with the sector’s contribution to the country’s economic growth last year but emphasized the potential for further improvement.
Statistics from the Philippine Statistics Authority reveal that the agriculture sector only expanded by 0.6 percent in 2022, making the growth in 2023 a positive development.
The agriculture sector’s contribution to the gross domestic product (GDP) in 2023 reached 9 percent. Additionally, the sector employed approximately 25 percent of the 49.7 million Filipinos in the labor force as of November 2023.
The highlight of 2023 was the record-breaking rice harvest in the Philippines, reaching around 20.06 million metric tons. This substantial production helped reduce rice imports to 3.5 million metric tons, down from 3.8 million metric tons in 2022. Not only did this benefit the country’s food security, but it also increased the income of local farmers.
Secretary Laurel attributed the increased rice output to the Rice Competitiveness Enhancement Fund, which provided financial support and assistance to farmers. This fund operates under the Rice Tariffication law.
Aligned with the government’s objective of modernizing agriculture, increasing food production, ensuring food security, and improving the income of farmers and fisherfolk, the Department of Agriculture plans to allocate more funds for farm inputs, post-harvest, and storage facilities, as well as the construction of additional irrigation systems.
In conclusion, the agriculture sector in the Philippines experienced growth in 2023, driven by higher poultry and livestock production, increased fruit harvest, and a record-breaking rice output. The Department of Agriculture aims to further enhance the sector by increasing investments in various aspects of farming. By doing so, they hope to achieve their goals of modernizing agriculture, improving food production, ensuring food security, and enhancing the income of farmers and fisherfolk in the country.
Source: [UrduPoint.com](https://www.urdupoint.com)
