Eastern Visayas' trade surplus posts 38.40% decrease in July 2020

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Tuesday, November 3, 2020
Eastern Visayas’ surplus in the total Balance of Trade in Goods (BoT-G) decreased by 38.40 percent in July 2020. The $178.80 million trade surplus in July 2019 dropped to $110.13 million trade surplus in July 2020.
The region’s total trade in goods declined by 36.73 percent in July 2020 to $139.77 million from $220.90 million in the same period in 2019 (Table 1).
The total value of exports in July 2020 was posted at $124.95 million, weighing 132.75 million kilograms. This value is lower by more than one-third or 37.48 percent compared with the $199.85 million exports in July 2019. The major export during this month was the commodity group of copper and articles thereof, which accounted for 94.80 percent of the region’s total export revenue. This generated $118.46 million total revenue (Table 2). The People’s Republic of China was the top export market destination with $82.15 million total export revenue. This accounted for almost two-thirds (65.75 percent) of the region’s total exports in July 2020 (Table 3).
The region’s total value of imports declined by 29.60 percent. The $21.05 million imports in July 2019 decreased to $14.82 million in July 2020, with total gross weight of 110.36 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 $4.28 million. This comprised 28.85 percent of the region’s total imports in July 2020 (Table 4). The top import supplier of the region in July 2020 was Vietnam. Its total import bill of $3.85 million comprised more than a quarter or 26.01 percent of the region’s total imports (Table 5).
Regional Director