Eastern Visayas records $58.9M trade deficit in April 2018

By PSA-8
July 18, 2018

TACLOBAN CITY – The region reflected a deficit in the total balance of trade in goods (BoT-G) amounting to $58.9 million in April 2018. This is 40.8% lower compared with the $99.4 million deficit recorded in the same period a year ago.

The region’s total trade in goods in April 2018 amounted to $81.7 million, significantly lower by 68.5% over the value of $259.6 million registered in the same month last year. Total exports amounted to $11.4 million, which was 85.7% lower compared with the $80.1 million in April 2017. Total value of imports, meanwhile, was recorded at $70.3 million, 60.8% lower compared with the $179.5 imports posted in the same period last year.

The region’s total volume of exports in April 2018 was posted at 74.7 million kilograms. The commodity group of Animal or Vegetable Fats and Oils and their Cleavage Products; Prepared Edible Fats; Animal or Vegetable Waxes was the major export during the month with total revenue of $5.9 million, accounting for more than half or 51.3% of the region’s total exports revenue in April 2018.

United States of America was the top export market destination with recorded total exports revenue of $5.9 million or 51.3 percent of the region’s total exports.

Meanwhile, the region’s total imports amounted to $70.3 million in April 2018 with total gross weight of 98.5 million kilograms. Ores, Slag and Ash commodity group was the major import during the month with total revenue of $62.5 million accounting for 88.9% of the region’s total imports in April 2018.

The top import supplier of the region was Peru, which recorded a total imports bill of $31.1 million or more than two-fifths (44.2%) of the region’s total imports.