Eastern Visayas posts 18.00% increase in trade surplus in March 2020

Reference Number: 

202006-0800-24

Release Date: 

Tuesday, June 2, 2020

Eastern Visayas’ surplus in the total Balance of Trade in Goods (BoT-G) increased by 18.00 percent in March 2020. Its $235.41 million trade surplus in March 2019 went up to $277.79 million trade surplus in March 2020.

The region’s total trade in goods in March 2020 likewise grew by 9.86 percent. It increased to $294.14 million from $267.75 million in the same period in 2019 (Table 1).

The total volume of exports in March 2020 was posted at 124.85 million kilograms, valued at $285.96 million. This figure is 13.67 percent higher compared with the $251.58 million exports in March 2019. The major export during the reference month was the commodity group of copper and articles thereof which generated $185.32 million total revenue. This accounted for almost two-thirds or 64.80 percent of the region’s total export revenue in March 2020 (Table 2). The People’s Republic of China was the top export market destination with $98.07 million total export revenue. It shared more than one – third or 34.29 percent of the region’s total exports in March 2020 (Table 3).

The region’s total value of imports decreased by almost half (49.44 percent). The $16.17 million imports in March 2019 dropped to $8.18 million in March 2020, with total gross weight of 60.64 million kilograms. Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes commodity group was the major import during the reference month with a total revenue of $3.78 million. This comprised 46.18 percent of the region’s total imports in March 2020 (Table 4). The top import suppliers of the region were Vietnam and Singapore. Their total import bill comprised 18.32 percent ($1.50 million) and 18.12 percent ($1.48 million), respectively, of the region’s total imports during the month in review (Table 5).

 

SGD. WILMA A. PERANTE
Regional Director
 

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