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Philippines' Q4 year-on-year agricultural output growth slows to 1.8 percent

23 January 2019

PHILIPPINES (Reuters) - In advance of an announcement about the country's fourth-quarter GDP, The Philippines reported slow gains in its agricultural sector

The Philippines' agricultural output grew 1.8 percent in the last quarter of 2018, slower that the 2.3-percent growth in the same quarter in 2017 but rebounding from the previous quarter's 0.8-percent contraction, the country's statistics agency said on 23 January.

All four subsectors - crops, livestock, poultry and fisheries - contributed to higher production in the fourth quarter.

The paddy rice harvest in the December quarter fell 2.2 percent from a year earlier, bringing full-year production to 19.1 million tonnes, below the government's forecast of 19.2 million tonnes and the previous year's 19.3 million tonnes.

The nation's agriculture sector is expected to post 2.5-3.5 percent growth in output this year, with rice production projected to hit an all-time high of 20 million tonnes, Agriculture Secretary Emmanuel Pinol said last month.

Agricultural output has accounted for about a tenth of the country's gross domestic product in recent years. The government will release fourth-quarter GDP data on Thursday.

Reporting by Enrico dela Cruz; Editing by Joseph Radford

Source: Reuters

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