The region posted a $241.17 million surplus in the total Balance of Trade in Goods (BoT-G) in February 2019, in contrast to the $56.04 million deficit in the same period in 2018.
The region’s total trade in goods in February 2019 surged to $282.10 million from $120.16 million in the same period in 2018, an increase of 134.77 percent.
Total value of exports amounted to $261.63 million, seven times (716.06 percent) higher compared with the $32.06 million in February 2018. Total value of imports, meanwhile, was recorded at $20.46 million, significantly lower by 76.78 percent compared with the $88.10 million imports posted in the same period in 2018.
The region’s total volume of exports in February 2019 was posted at 109.10 million kilograms valued at $261.63 million. The commodity group of copper and articles thereof was the major export during the month in review with total revenue of $156.52 million. This accounted for 59.82 percent of the region’s total export revenue in February 2019. People’s Republic of China was the top export market destination with $88.10 million total export revenue, which shared 33.67 percent of the region’s total exports.
The region’s total imports amounted to $20.46 million in February 2019 with total gross weight of 74.82 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 $9.64 million, this comprised 47.13 percent of the region’s total imports in February 2019. The top import supplier of the region was Vietnam with total import bill of $5.91 million, comprising 28.87 percent of the region’s total imports.