MANILA, Philippines — The country's fourth quarter agricultural output in 2023 grew by 0.7%, rebounding from the -1.0% contraction in the same period in 2022, the Philippine Statistics Authority (PSA) said.
The PSA attributed the climb to "increments in the value of crops, livestock, and poultry production."
"In the fourth quarter of 2023, the value of production in agriculture and fisheries at constant 2018 prices, which amounted to P493.72 billion, increased annually by 0.7 percent," the PSA said in a release on Tuesday.
This resulted in the total value of agricultural production reaching P493.72 billion, an increase from P490.06 billion in the corresponding period of the previous year, according to the PSA.
Livestock production posted a 2.7% growth with an amount of P72.10 billion, with hogs being the major contributor to the growth of the output.
Poultry production also increased by 7.8% amounting to P67.65 billion. It accounted for 13.7% of the total production value in agriculture and fisheries.
Fisheries, however, contracted by 5.2%, which contributed to 13.7% of the total value of production in agriculture and fisheries.