Agriculture weakened despite capital inflows in sector

March 23, 2023

Charter change advocates in Congress claim changing the constitution to favor foreign direct investment (FDI) will develop the economy. Yet while foreign capital poured into the agriculture, forestry and fisheries sector over the years, its share in the economy has plunged.

The stock of FDI in the sector more than doubled from US$53.6 million in 2000 to US$115.7 million in 2017, the latest year for which data is available. But the sector’s share in gross domestic product decreased from 15.2% in 2000 to 10.1% in 2017. Agriculture has become the underdog to manufacturing and services.

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IBON Foundation is a non-stock, non-profit development organization. We have been serving the Filipino people through research and education since 1978. IBON seeks to promote an understanding of socioeconomics that serves the interests and aspirations of the Filipino people. We study the most urgent social, economic, and political issues confronting Philippine society and the world.

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