Wednesday, December 4, 2019
The region posted a $176.33 million surplus in the total Balance of Trade in Goods (BoT-G) in August 2019, higher by 58.28 percent compared with the $111.40 million trade surplus in August 2018.
The region’s total trade in goods in August 2019 significantly increased to $211.08 million from $142.13 million in the same period in 2018, a growth by 48.50 percent.
The region’s total volume of exports in August 2019, weighing 47.47 million kilograms, was valued at $193.70 million. This is 52.80 percent higher compared with the $126.77 million exports in August 2018. The commodity group of copper and articles thereof was the major export during the month in review with total revenue of $101.45 million. This accounted for more than half or 52.37 percent of the region’s total export revenue in August 2019 (Table 2). Hong Kong was the top export market destination with $77.91 million total export revenue, which shared 40.22 percent of the region’s total exports (Table 3).
The region’s total imports grew by 13.05 percent, from $15.37 million imports in August 2018 to $17.37 million in August 2019, with total gross weight of 72.51 million kilograms. Inorganic chemicals; organic or inorganic compounds of precious metals, of rare-earth, of radio-active elements or of isotopes commodity group was the major import during the month with total revenue of $5.48 million, comprising 31.55 percent of the region’s total imports in August 2019 (Table 4). The top import supplier of the region in August 2019 was Vietnam with total import bill of $5.93 million, comprising 34.13 percent of the region’s total imports (Table 5).
SGD. WILMA A. PERANTE