Eastern Visayas records $53.5M trade deficit in July 2018

By PSA-8
October 18, 2018

TACLOBAN CITY – The region reflected a deficit in the total balance of trade in goods (BoT-G) amounting to $53.5 million in July 2018 in contrast to the $120.8 million surplus in the same period a year ago.

The region’s total trade in goods in July 2018 amounted to $85.2 million, a drastic drop of 67.2 percent from the $259.8 million level in the same period last year. Total exports amounted to $69.3 million, which was 0.2 percent lower compared with the $69.5 million in July 2017. Total value of imports, meanwhile, was recorded at $15.8 million, a severe drop by 91.7% compared with the $190.3 imports posted in the same period last year.

The region’s total volume of exports in July 2018 was posted at 85.3 million kilograms. The commodity group of ores, slag and ash was the major exports during the month in review with total revenue of 33.0 million, accounting for 47.6% of the region’s total exports revenue in July 2018. Canada was the top export market destination with a total exports revenue of $33.0 million, which shared 47.6% of the region’s total exports.

Meanwhile, the region’s total imports amounted to $15.8 million in July 2018 with total gross weight of 52.2 million kilograms. Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes commodity group was the major import during the month with total revenue of $9.2 million, which accounted for more than half or 57.9% of the region’s total imports in July 2018. The top import supplier of the region was Singapore with a total imports bill of $6.7 million, which comprised 42.3% of the region’s total imports.