Eastern Visayas posts 19.45% decline in trade surplus in February 2020

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Thursday, May 21, 2020

Eastern Visayas’ $194.25 million surplus in the total Balance of Trade in Goods (BoT-G) in February 2020 is lower by 19.45 percent compared with the $241.17 million trade surplus recorded in February 2019.

The region’s total trade in goods in February 2020 likewise declined by 25.99 percent. It decreased to $208.77 million from $282.10 million in the same period in 2019 (Table 1).

The total volume of exports in February 2020 was posted at 74.41 million kilograms, valued at $201.51 million. This figure is 22.98 percent lower compared with the $261.63 million exports in February 2019. The major export during the reference month was the commodity group of copper and articles thereof which generated $145.47 million total revenue. This accounted for 72.19 percent of the region’s total export revenue in February 2020 (Table 2). The People’s Republic of China was the top export market destination with $75.94 million total export revenue. It shared more than one – third or 37.68 percent of the region’s total exports in February 2020 (Table 3).

The region’s total value of imports decreased significantly by 64.53 percent. The $20.46 million imports in February 2019 dropped to $7.26 million in February 2020, with total gross weight of 57.02 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 $4.34 million. This comprised more than half or 59.79 percent of the region’s total imports in February 2020 (Table 4). The top import supplier of the region in February 2020 was Indonesia. Their total import bill of $2.42 million comprised 33.28 percent of the region’s total imports (Table 5).

Regional Director