Total trade in goods in Eastern Visayas in October 2020 was recorded at USD 126.59 million. This reflected a 20.18 percent increase from USD 105.33 million total trade in October 2019.
Total value of exports in October 2020 amounted to USD 112.00 million. This figure was 34.98 percent higher than the USD 82.98 million exports in October 2019. The total value of imports declined by 34.74 percent, from USD 22.35 million in October 2019 to USD 14.59 million in October 2020.
The increase in export revenues offset the drop in import revenues. This resulted to a 60.68 percent growth in surplus in the total Balance of Trade in Goods (BoT) in October 2020. The USD 60.63 million trade surplus in October 2019 rose to USD 97.41 million trade surplus in October 2020 (Table 1).
The region’s total volume of exports in October 2020 posted at 52.31 million kilograms was worth USD 112.00 million. Major commodity group exported during the month in review was copper and articles thereof which amounted to USD 106.52 million or 95.11 percent of the region’s total export revenue. Republic of Korea was the region’s top export market destination with USD 44.85 million total export revenue. This comprised 40.04 percent of the region’s total exports in October 2020.
The region’s total imports amounted to USD 14.59 million in October 2020 with total gross weight of 103.49 million kilograms. Top imported commodity group was salt, sulphur, earths and stone; plastering materials, lime and cement worth USD 7.15 million. This comprised the bulk or 48.99 percent of the region’s total import receipts in October 2020. The region’s top source of imported goods was Morocco with trading transaction worth USD 3.45 million accounting for 23. 67 percent of the total import bill.