Highlights of Eastern Visayas' Export and Import Statistics: February 2021 (Preliminary Data)

Reference Number: 

SR-202106-0800-17

Release Date: 

Saturday, June 5, 2021

Total trade in goods in Eastern Visayas in February 2021 amounted to USD 159.23 million.  This was lower by 24.44 percent compared with the USD 210.73 million total trade recorded in February 2020.

Total value of exports dropped by almost half or 46.09 percent, from USD 201.51 million in February 2020 to USD 108.63 million in February 2021.

Meanwhile, total value of imports showed a fivefold increase of USD 50.60 million in February 2021 from the USD 9.22 million reported in February 2020.

Notwithstanding the boom in imports, Balance of Trade in Goods (BoT-G) still plunged by 69.83 percent, from USD 192.29 million in February 2020 to USD 58.02 million in February 2021 (Table 1).

EXPORTS

The total volume of the region’s exports in February 2021 was 73.55 million kilograms with a total value of USD 108.63 million.
 
Commodity group of copper and articles thereof worth USD 100.21 million comprised the bulk of exports in the region. It contributed 92.25 percent to the total exports of the region in February 2021. The rest of the commodity groups shared the remaining 7.75 percent as follows: animal or vegetable fats and oils and their cleavage products, prepared edible fats, animal or vegetable waxes worth USD 6.66 million (6.13%); fertilizers worth USD 1.24 million (1.14%); inorganic chemicals, organic or inorganic compounds of precious metals, of rare-earth, of radio-active elements or of isotopes worth USD 0.28 million (0.25%); and ores, slag and ash worth USD 0.24 million (0.22%) (Table 2).
 
The top export market in February 2021 was Thailand with USD 42.81 million worth of exports, contributing 39.41 percent to the regional export value. This was followed by People’s Republic of China with USD 20.02 million accounting for 18.43 percent of the region’s total export. India and Republic of Korea shared 11.47 percent (USD 12.46 million) and 11.38 percent (USD 12.36 million), respectively (Table 3).
 
IMPORTS
 
The region’s total volume of imports in February 2021 had a gross weight of 159.54 million kilograms which amounted to USD 50.60 million.
 
 
The top import was ores, slag and ash commodity group posting USD 19.70 million which comprised 38.94 percent of the import receipts in February 2021. This was closely followed by the commodity group of mineral fuels, mineral oils and products of their distillation, bituminous substances, mineral waxes with a share of 32.70 percent valued at USD 16.55 million. The third commodity group was salt, sulphur, earths and stone, plastering materials, lime and cement which contributed 11.81 percent or USD 5.98 million to the regional import receipts.
 
Australia was the top supplier in the region with USD 19.58 million value of import in February 2021. This value shared 38.69 percent to the total import in the region. Singapore came next with USD 10.99 million (21.71%) imports, People’s Republic of China with USD 6.10 million (12.05%) imports, and Morocco with USD 5.49 million (10.85%) worth of imports. Other countries combined contributed USD 8.45 million or 16.69 percent of the regional import receipts in February 2021.
 
 
 
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

Tags: 

Attachments: