Highlights of Eastern Visayas Export and Import Statistics: February 2020

Reference Number: 

SR-202005-0800-21

Release Date: 

Thursday, May 21, 2020

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

Total value of exports amounted to $201.51 million. This figure is 22.98 percent lower compared with the $261.63 million exports in February 2019. The 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.

The region’s $194.25 million surplus in the total Balance of Trade in Goods (BoT-G) in February 2020 was consequently lower by 19.45 percent compared with the $241.17 million trade surplus in February 2019 (Table 1).
 
EXPORTS
 
The region’s total volume of exports in February 2020 posted at 74.41 million kilograms was valued at $201.51 million.
 
 
The major export during this month was the commodity group of copper and articles thereof which accounted for almost three-fourths or 72.19 percent of the region’s total export revenue. This generated $145.47 million total revenue.
 
The second major export of the region in February 2020 was the commodity group of natural or cultured pearls, precious or semi-precious stones, precious metal, metal clad with precious metals and articles thereof; imitation jewellery; coin. This shared 26.36 percent of the total export revenue amounting to $53.12 million. Meanwhile, pulp of wood or of other fibrous cellulosic material; recovered (waste and scrap) of paper or paperboard commodity group recorded $2.33 million export revenue. This contributed 1.15 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 $75.94 million total export revenue. This accounted more than one – third (37.68 percent) of the region’s total exports in February 2020. Hong Kong ranked second with $53.12 million export revenue. It shared 26.36 percent of the total export revenue of the region in February 2020. India followed with $28.90 million export revenue, which accounted for 14.34 percent of the region’s total exports during the month in review (Table 3).
 
IMPORTS
 
The region’s total imports amounted 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.
 
Other vegetable textile fibres; paper yarn and woven fabrics of paper yarn commodity group shared 13.77 percent of the region’s total imports in February 2020 valued at $1.00 million. While inorganic chemicals; organic or inorganic compounds of precious metals, of rare-earth, of radio-active elements or of isotopes commodity group valued at $0.47 million contributed 6.48 percent of the total imports of the region during the month in review (Table 4).
 
 
The top import supplier of the region in February 2020 was Indonesia. Their total import bill of $2.42 million comprised one-third (33.28 percent) of the region’s total imports. People’s Republic of China ranked second with $1.61 million import bill which accounted for 22.21 percent of the total imports. Ecuador followed with total imports valued at $1.00 million. This contributed 13.77 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.
 
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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