Wednesday, September 23, 2020
Eastern Visayas’ total trade in goods dropped by 36.61 percent in June 2020 to $164.57 million from $259.63 million in the same period in 2019.
Total value of exports in June 2020 amounted to $107.06 million, lower by more than half or 55.89 percent compared with the $242.71 million exports in June 2019. The total value of imports, meanwhile, increased by more than three - folds (239.98 percent), from $16.91 million imports in June 2019 to $57.51 million in June 2020.
The drop in the total value of exports and the large increase in the total value of imports resulted to a 78.05 percent decrease in surplus in the total Balance of Trade in Goods (BoT-G) in June 2020. The $225.80 million trade surplus in June 2019 declined to $49.55 million trade surplus in June 2020 (Table 1).
The region’s total volume of exports in June 2020 posted at 68.67 million kilograms was valued at $107.06 million.
The major export during this month was the commodity group of copper and articles thereof, which accounted for 92.94 percent of the region’s total export revenue. This generated $99.50 million total revenue.
The second major export of the region in June 2020 was the commodity group of animal or vegetable fats and oils and their cleavage products; prepared edible fats; animal or vegetable waxes. This shared 2.72 percent of the total export revenue amounting to $2.91 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 $2.75 million export revenue, which contributed 2.56 percent to the total export revenue during the month in review (Table 2).
Meanwhile, the People’s Republic of China was the top export market destination with $86.42 million total export revenue. This accounted four-fifths (80.72 percent) of the region’s total exports in June 2020. Republic of Korea ranked second with $6.98 million export revenue. It shared 6.52 percent of the total export revenue of the region in June 2020. The Netherlands followed with $4.09 million export revenue, which accounted for 3.82 percent of the region’s total exports during the month in review (Table 3).
The region’s total imports amounted to $57.51 million in June 2020 with total gross weight of 117.60 million kilograms.
Ores, slag and ash commodity group was the major import during the reference month with a total revenue of $41.32 million. This comprised 71.86 percent of the region’s total imports in June 2020.
Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes commodity group shared 10.27 percent of the region’s total imports in June 2020 valued at $5.90 million. While cereals commodity group with $2.70 million revenue contributed 4.70 percent of the total imports of the region during the month in review (Table 4).
The top import supplier of the region in June 2020 was Indonesia. Its total import bill of $31.42 million comprised more than half or 54.63 percent of the region’s total imports. Peru followed with $11.11 million import bill, which accounted for 19.33 percent of the total imports. Vietnam ranked third with total imports valued at $4.65 million. This contributed 8.08 percent to the total regional imports during the reference month (Table 5).
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