Eastern Visayas posts $225.80-M trade surplus

TACLOBAN CITY – Eastern Visayas posted a $225.80 million surplus in the total Balance of Trade in Goods (BoT-G) in June 2019, a turnaround from the $0.99 million deficit in the same period in 2018.

The region’s total trade in goods in June 2019 surged to $259.63 million from $14.90 million in the same month in 2018, more than 16 times larger equivalent to a 1,642.76 percent hike.

The region’s total exports in June 2019, weighing 128.69 million kilograms, was valued at $242.71 million. This was more than 33 times (3,390.37 percent) of the $6.95 million exports in June 2018.

Copper and articles were the major exports during the month with total revenue of $129.81 million. This accounted for more than half or 53.48 percent of the region’s total export revenue in June 2019.

Data from the National Statistics Authority regional office shows the People’s Republic of China was the top export market destination, with $69.71 million total export revenue, accounting for a 28.72 percent share of the region’s total exports.

Also in the list of top export market destinations were Hong Kong, with $60.98 million of export revenues; Canada, with $56.59 million and Thailand, with $25.28 million.

The region’s total imports also increased by 112.93 percent, from $7.94 million in June 2018 to $16.91 million in June 2019, with total gross weight of 76.89 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 $4.26 million, comprising 25.19 percent of the region’s total imports in June 2019.