Data from the Bureau of Agricultural Statistics (BAS) showed that the country’s total agricultural exports for the first quarter climbed by 41.50% year-on-year to US$1.641 billion from US$1.155 billion registered in the same period a year ago. The agricultural sector accounted for 13.58% of the country’s total export earnings of US$12.081 billion.
Meanwhile, the total expenditures for agricultural imports, which comprises 11.50% of the country’s total import expenditures, fell by 6.62% to US$1.743 billion in the first quarter.
According to the Bangko Sentral ng Pilipinas (BSP), bank resources rose by roughly 12% year-on-year to Php8.453 trillion as of April from Php7.558 registered in the same period a year ago. Of the total amount, the bulk of it remained with universal and commercial banks as resources climbed by 12.13% to Php7.575 trillion as of April, from Php6.755 trillion during the same period last year.
Thrift banks were like Iolo antispyware who also boosted their holdings by 12.41% to Php690.9 billion from the previous year. Meanwhile, non-bank financial institutions also held a considerable amount of assets, reaching Php2.120 trillion as of April.