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.