The agricultural sector remains a key driver of the Philippine economy, employing more than 20 percent of the labor force and providing the country’s food supply. The sector’s performance, however, leaves room for improvement as signaled by the widening agricultural trade deficit which rose to its highest in 2022. This publication aims to provide an overview of Philippine agricultural trade as well as its issues and challenges. The top traded agricultural products are identified to shed light on goods which are driving the deficit such as rice and wheat. In order to reduce this gap, an analysis of trade competitiveness is undertaken to determine agricultural goods which have potential to support export performance such as coconut oil and fresh pineapples. Finally, policy and program considerations are raised which include recommendations for higher funding for high-value crops, expanded access to export markets, and efforts to improve productivity, among others.