Eastern Visayas posts $52.12 million trade deficit in December 2018

By PSA-8
March 14, 2019

TACLOBAN CITY – The region posted a $52.12 million deficit in the total Balance of Trade in Goods (BoT-G) in December 2018 from $106.61 million in December 2017, which implies an improvement of 51.11 percent.

The region’s total trade in goods in December 2018 significantly dropped to $85.06 million from $276.76 million in the same period in 2017, a decline of 69.27 percent. Total value of exports amounted to $16.47 million, which was 80.65 percent lower compared with the $85.08 million in December 2017. Total value of imports, meanwhile, was recorded at $68.59 million, 64.22 percent lower compared with the $191.69 million imports posted in the same period last year.

The region’s total volume of exports in December 2018 was posted at 61.45 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 in review with total revenue of $11.18 million. This accounted for 67.92 percent of the region’s total export revenue in December 2018. United States of America (USA) was the top export market destination with $7.18 million total export revenue, which shared 43.64 percent of the region’s total exports.

The region’s total imports in December 2018 recorded a total gross weight of 114.40 million kilograms. Ores, slag and ash commodity group was the major import during the month with total revenue of $58.37 million, this comprised the bulk or 85.10 percent of the region’s total imports in December 2018. The top import supplier of the region was Australia with total import bill of $58.20 million, which shared 84.84 percent of the region’s total imports.