Highlights of Eastern Visayas' Export and Import Statistics: August 2020 (Preliminary Data)

Reference Number: 

SR-202012-0800-33

Release Date: 

Wednesday, December 9, 2020

Eastern Visayas’ total trade in goods dropped to $88.98 million in August 2020 from $213.31 million in the same period in 2019, a steep decline by 58.28 percent.

A sharp decline by 61.07 percent was also noted in the total value of exports, from $193.70 million exports in August 2019 to $75.41 million in August 2020. The total value of imports declined by 30.77 percent, from $19.60 million imports in August 2019 to $13.57 million in August 2020.

The drop in both the total value of exports and imports resulted to a 64.48 percent tremendous decrease in surplus in the total Balance of Trade in Goods (BoT-G) in August 2020. The $174.10 million trade surplus in August 2019 dipped to $61.84 million trade surplus in August 2020 (Table 1).

EXPORTS

The region’s total volume of exports in August 2020 posted at 52.40 million kilograms was valued at $75.41 million.

The major export during this month was the commodity group of copper and articles thereof, which accounted for 83.08 percent of the region’s total export revenue. This generated $62.65 million total revenue.
 
The second major export of the region in August 2020 was the commodity group of animal or vegetable fats and oils and their cleavage products; prepared edible fats; animal or vegetable waxes, which shared 9.19 percent of the total export revenue amounting to $6.93 million. This was followed by pulp of wood or of other fibrous cellulosic material; recovered (waste and scrap) of paper or paperboard commodity group with $2.39 million export revenue, which contributed 3.17 percent to the total export revenue during the month in review (Table 2).
 
The People’s Republic of China was the top export market destination with $36.40 million total export revenue. This accounted for almost half (48.27%) of the region’s total exports in August 2020. Thailand ranked second with $19.24 million export revenue. It shared a quarter (25.51%) of the total export revenue of the region in August 2020. The Netherlands followed with $7.16 million export revenue, which accounted for 9.50 percent of the region’s total exports during the month in review (Table 3).

IMPORTS

The region’s total imports amounted to $13.57 million in August 2020 with total gross weight of 94.71 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 $5.83 million. This comprised the bulk or 42.99 percent of the region’s total imports in August 2020.
 
Cereals commodity group shared 19.75 percent of the region’s total imports in August 2020 valued at $2.68 million. While the $1.86 million revenue of other vegetable textile fibres; paper yarn and woven fabrics of paper yarn commodity group contributed 13.71 percent of the total imports of the region during the month in review (Table 4).
 
 
The top import supplier of the region in August 2020 was Vietnam. Its total import bill of $3.64 million comprised more than a quarter (26.85%) of the region’s total imports. People’s Republic of China followed with $2.52 million import bill, which accounted for 18.56 percent of the total imports. Singapore ranked third with total imports valued at $2.23 million. This contributed 16.46 percent to the total regional imports during the reference month (Table 5).
 
 
 
Technical Notes
Export and Import Trade Statistics are compiled by the Philippine Statistics Authority (PSA) from copies of export and import documents submitted to the Bureau of Customs (BOC) by exporters and importers or their authorized representatives as required by law. PSA collects copies of the following accomplished forms:
 
1. Export Declaration (ED – DTI form)
2. Import Entry & Internal Revenue Declaration (BOC IEIRD Form 236)
3. Informal Import Declaration and Entry (BOC Form 177)
4. Single Administrative Documents (SAD)
 
The output of the Automated Export Documentation System (AEDS) of the BOC is being utilized to generate export statistics. AEDS is a paperless transaction in lieu of the manual filling-up of export documents.
 
Moreover, an electronic copy of the IEIRD, or SAD, is utilized to capture the monthly import figures. SAD-IEIRD is an on-line submission of import documents either by brokers or companies. These are transactions that pass through the Automated Cargo Operating System (ACOS), now called the e2m (electronic to mobile) customs system, a system implemented through the BOC e-Customs Project.
 
All documents (hard copies and e-files) received before the cut-off date which is every 25th day of the month, are compiled, processed and generated in monthly statistical tables for the preparation of Press Release. All documents received after the cut-off date, however, are processed and included in the generation of the revised monthly statistical tables. Final data revisions are made annually during the first quarter after the reference year to include documents received after the monthly revisions.
 
The digitized copies of all documents are provided by BOC and PEZA to PSA on a monthly basis through email.
 
The 2015 Philippine Standard Commodity Classification (PSCC) is used to classify the commodities at the most detailed 10-digit code level for statistical purposes.
 
SGD. WILMA A. PERANTE
Regional Director

 

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