Eastern Visayas records $49.4M trade deficit in May 2018

By PSA-8
August 9, 2018

TACLOBAN CITY – The region reflected a continued deficit in the total balance of trade in goods (BoT-G), posting a drastic drop by 424.2% to $49.4 million in May from $9.4 million in May 2017.

The region’s total trade in goods in May 2018 amounted to $177.4 million, equal to the registered value in the same period last year. Total exports amounted to $64.0 million, which was 23.8% lower compared with the $84.0 million in May 2017. Total value of imports, meanwhile, was recorded at $113.4 million, 21.4 percent higher compared with the $93.4 imports posted in the same period last year.

The region’s total volume of exports in May 2018 was posted at 97.0 million kilograms. The commodity group of Copper and Articles thereof was the major export during the month in review with a total revenue of $61.6 million, accounting for 96.4% of the region’s total exports revenue in May 2018.

People’s Republic of China was the top export market destination with a recorded total exports revenue of $61.6 million, which shared 96.4% of the region’s total exports.

Meanwhile, the region’s total imports amounted to $113.4 million in May 2018 with total gross weight of 94.0 million kilograms. Ores, Slag and Ash commodity group was the major import during the month with a total revenue of $104.4 million accounting for 92.0% of the region’s total imports in May 2018.

The top import supplier of the region was Australia, recording a total imports bill of $51.6 million, which comprised more than two-fifths (45.5%) of the region’s total imports.