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Trade surplus in Eastern Visayas drops in December 2020

By PSA-8
March 29, 2021

TACLOBAN CITY Ė Total trade in goods in Eastern Visayas slipped to USD 165.80 million in December 2020. This amount is 38.63 percent lower than the USD 270.18 million total trade reported in December 2019.

Trade surplus in Eastern VisayasTotal value of exports in Eastern Visayas dropped to USD 150.51 million in December 2020 from USD 255.05 million in December 2019 or a 40.99 percent contraction of exports revenues.

The total value of imports, meanwhile, slightly increased by 1.10 percent, from USD 15.13 million in December 2019 to USD 15.30 million in December 2020.

Consequently, the Balance of Trade (BoT) in goods registered a 43.64 percent decrease, from USD 239.92 million in December 2019 to USD 135.21 million in December 2020 (Table 1).

Total volume of exports in December 2020 was 77.37 million kilograms valued at USD 150.51 million. The major export for the month was copper and articles thereof commodity group worth USD 138.99 or 92.35 percent of the regionís total export revenue. The regionís top export market destination was Thailand with USD 47.31 million worth of exports which comprised 31.43 percent of the total export revenues in December 2020.

Total value of import receipts amounted to USD 15.30 million in December 2020 with total gross weight of 87.09 million kilograms. Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes was the major commodity group imported by the region. Its import valued at USD 6.48 million in December 2020 was 42.39 percent of the regionís total import receipts during the period in review. The regionís top import trading partner in December 2020 was Singapore with USD 3.95 million worth of imported goods, or 25.85 percent of the regionís total import value.