posts $52.12 million trade deficit in December 2018
March 14, 2019
TACLOBAN CITY Ė 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 regionís 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 regionís 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 regionís
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 regionís total
The regionís 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 regionís 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 regionís total imports.