Eastern Visayas' Export continue to Drop in February 2021

Reference Number: 

PR-202106-0800-28

Release Date: 

Saturday, June 5, 2021

Total trade in goods in Eastern Visayas in February 2021 amounted to USD 159.23 million.  This was lower by 24.44 percent compared with the USD 210.73 million total trade recorded in February 2020.

Total value of exports dropped by almost half or 46.09 percent, from USD 201.51 million in February 2020 to USD 108.63 million in February 2021.

Meanwhile, total value of imports showed a fivefold increase of USD 50.60 million in February 2021 from the USD 9.22 million reported in February 2020.

Notwithstanding the boom in imports, Balance of Trade in Goods (BoT-G) still plunged by 69.83 percent, from USD 192.29 million in February 2020 to USD 58.02 million in February 2021 (Table 1).

The total volume of the region’s exports in February 2021 was 73.55 million kilograms with a total value of USD 108.63 million.  Commodity group of copper and articles thereof worth USD 100.21 million comprised the bulk or 92.25 percent of the total exports of the region (Table 2).  The top export market for the period was Thailand with USD 42.81 million worth of exports, contributing 39.41 percent to the regional export value in February 2021(Table 3).

The region’s total volume of imports in February 2021 had a gross weight of 159.54 million kilograms which amounted to USD 50.60 million. The top import was ores, slag and ash commodity group posting USD 19.70 million and comprising 38.94 percent of the import receipts.  Australia was the top supplier with USD 19.58 million value of import in February 2021.  This value shared 38.69 percent to the total import in the region.

 

Sgd. WILMA A. PERANTE
Regional Director

 

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