January 19, 2018 / 2:43 AM / a month ago

Philippines' 2017 farm output rises 4 pct, buoyed by record rice

MANILA, Jan 19 (Reuters) - 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. (bit.ly/2rkgCth)

The crops subsector, 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 tonnes.

The Philippines will release its GDP data on Jan. 23. (Reporting by Neil Jerome Morales; Editing by Manolo Serapio Jr. and Sam Holmes)

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