Farm output rises 4 pct in 2017 on record rice production

Reuters

Posted at Jan 19 2018 03:03 PM

MANILA - The Philippines' agricultural output grew 2.2 percent in the fourth quarter, bringing full-year expansion to 3.95 percent, supported by a record rice production, the statistics agency said on Friday.

Farm output accounts for about a tenth of the Southeast Asian nation's gross domestic product, which is among the fastest growing in the world.

The growth in the agriculture sector in the past quarter followed a 1.09 percent decline in the same quarter in 2016, when full-year output dropped 1.4 percent, the statistics agency said.

The crops sub-sector, which accounted for 51 percent of total farm output, rose 2.7 percent in the fourth quarter. Paddy rice output grew 9.4 percent to a record 19.28 million tons.

The Philippines will release its gross domestic product data on Jan. 23.