Leyte’s Trade of Goods at $768.95 million for the First Quarter of 2019
The total trade (imports plus exports) in Leyte for the first quarter of 2019 amounted to $768.95 million, higher by 84.0 percent compared to $417.97 million total trade in the same period of 2018.
The total value of imports in the province posted at $44.93 million during the quarter in review. This is 80.5 percent lower than $230.62 million value of imports during the first quarter of 2018.
On the other hand, total value of exports significantly rose to $724.02 million for the first quarter of 2019 from $187.35 million in 2018.
The Balance of Trade (BoT) in goods during the reference quarter resulted a surplus of $679.09 million from a $43.27 million deficit in the same period of 2018.
Leyte’s Value of Imports dropped by 80.5 percent
The value of imports in Leyte dropped by 80.5 percent, from $230.62 million during the first quarter of 2018 to $44.93 million in the same period of 2019.
On a monthly basis, the value of imports in January 2019 was significantly lower by 93.2 percent compared to $122.75 million in January 2018. Similarly, the value of imports for February and March 2019 decreased by 76.8 percent and 18.2 percent, respectively, from the reported values in the same period of 2018.
Total Exports in Leyte accelerated to $724.02 million
Leyte’s exports accelerated to $724.02 million in the first quarter of 2019, significantly higher by 294.8 percent from $183.35 million in 2018.
A different scenario was observed in the exports performance of the province. Monthly exports from January to March 2019 were significantly higher compared in 2018. The value of exports accelerated from $80.98 million in January 2018 to $217.58 million in January. Similarly, the value of imports for February and March of 2019 posted significant increases of 702 percent and 254.6 percent, respectively.
About 54 percent of Leyte’s Total Imports passes through LIDE Port
Twenty four million dollars value of imports in Leyte came from the port of Leyte Industrial Development Estate (LIDE). This is a Special Export Processing Zone in Isabel, Leyte which include PASAR and PHILPHOS. This comprised 54 percent of the total imports of Leyte.
The Port of Tacloban came next with 28.5 percent share amounting to $12.81 million.
Meanwhile, both New Jubilee Agro-indusrial Economic Zone/NJAI and Sub-port of Isabel comprised less than 10 percent of Leyte’s total imports valuing at $4.11 million and $3.97 million, respectively.
LIDE Exports $717.84 million in First Quarter of 2019
Only two ports in Leyte were reported to have export transactions in the first quarter of 2019 namely Leyte Industrial Development Estate– LIDE and New Jubilee Agro-indusrial Economic Zone/NJAI.
The port of LIDE posted an aggregate receipts from merchandise exports of $717.84 million which is 99.1 percent of the total export of Leyte during the reference period. The remaining 0.9 percent came from the port of New Jubilee Agro-industrial Economic Zone posting an aggregate receipts of $6.18 million.
Vietnam is Leyte’s Top Import Trading Partner
About 33.7 percent of the imported goods of Leyte in the first quarter of 2019 came from Vietnam with total value of $15.13 million. People’s Republic of China ranked second posting a value of $6.04 million followed by Morocco with a total value of $5.00 million.
The other countries which completed the top 10 import trading partners of Leyte include Indonesia ($2.87 million), Germany ($2.61 million), Ecuador ($2.18 million), Republic of Korea ($1.66 million), United States of America ($1.42 million), Canada ($1.38 million) and Sweden ($0.97 million).
Exports Receipts to Hongkong valued at $247.52 million
Hongkong was the top export market destination of Leyte in the first quarter of 2019 wih an aggregate receipts of $247.52 million or 34.2 percent of the total exports of Leyte.
The People’s Republic of China was the second export trading partner of the province with total receipts of $216.86 million. Thailand ranked third valuing at $77.89 million followed by Taiwan ($44.43 million), Republic of Korea ($35.41 million), and Indonesia ($ 31.92 million).
The rest of the countries recorded less than $30 million each of exports transactions.