Eastern Visayas
posts $191.99 million trade surplus in February 2022
By
PSA-8
June 28, 2022
TACLOBAN CITY –
International trade in Eastern Visayas surged by 61.09 percent to
USD 256.50 million in February 2022 from USD 159.23 million total
trade in February 2021.
The growth was largely
driven by strong exports which more than doubled (106.44%) to USD
224.24 million in February 2022 from USD 108.63 million in February
2021.
On the other hand, import
of goods slipped down by -36.25 percent at USD 32.26 million in
February 2022 from USD 50.60 million in February 2021.
Balance of Trade in Goods
(BoT-G) increased more than three-folds (230.88%) from USD 58.02
million in February 2021 to USD 191.99 million in February 2022.
Eastern Visayas exported
69.59 million kilograms of goods in February 2022. Export sales were
predominantly from copper and articles thereof commodity group which
sold for USD 202.24 million or 90.19 percent of the total export
value in February 2022.
The top export destination
was the People’s Republic of China with USD 76.83 million worth of
exports accounting for more than a third (34.26%) of the region’s
export market.
The volume of goods
imported by the region in February 2022 was 56.72 million kilograms.
Out of the USD 32.26 million total import value, more than
two-thirds (69.57%) or USD 22.44 million were contributed by the
commodity group of mineral fuels, mineral oils and products of their
distillation; bituminous substances; mineral waxes. The top import
supplier was Republic of Korea with USD 15.37 million worth of goods
taking almost half (47.63%) of the total import value of the region
in February 2022.
