Eastern Visayas recorded a 24.04 percent decline in total trade in goods, from USD 300.31 million in January 2020 to USD 228.11 in January 2021.
Total value of exports dropped by 43.28 percent, from USD 291.54 million in January 2020 to USD 165.35 million in January 2021.
On the other hand, the total value of imports soared to USD 62.76 million in January 2021, around seven fold of its USD 8.77 million value in January 2020.
Balance of Trade in goods (BoT-G), or the difference between the value of export and import, plunged by 63.72 percent from USD 282.76 million in January 2020 to USD 102.58 million in January 2021 (Table 1).
Total volume of exports in January 2021 had a gross weight of 68.8 million kilograms with a total value of USD 165.35 million. The top commodity group exported was copper and articles thereof worth USD 158.78 (96.03%). The major trading partner in January 2021 was the People’s Republic of China which remitted 63.87 percent or USD 105.62 million of the regional export revenues.
Imported goods in January 2021 had a gross weight of 181.7 million kilograms which amounted to USD 62.76 million. The commodity group of ores, slag and ash comprised the bulk or about two-thirds (62.18%) of the region’s total import bill in January 2021 valued at USD 39.03 million. Papua New Guinea’s total imports accounted for the largest share of USD 38.75 million or 61.73 percent of the region’s total import in January 2021.