The total value of exports from Eastern Visayas dropped by almost half or 46.09 percent, from $201.51 million in February 2020 (before the Covid-19 pandemic) to $108.63 million in February 2021.
TACLOBAN CITY– THE total trade in goods in Eastern Visayas in February 2021 amounted only to $159.23 million, more than 24 percent lower compared to the same period last year, a report from the Philippine Statistics Authority - Regional Statistical Services Office 8 based in this city said.
According to PSA-RSSO 8 Regional Director Wilma Perante, the total value of exports has dropped by almost half or 46.09 percent, from $201.51 million in February 2020 (before the Covid-19 pandemic) to $108.63 million in February 2021.
In contrast, the statistics office also reported that the total value of imports showed a fivefold increase of $50.60 million in February 2021, from the $9.22-million reported in February 2020.
“Notwithstanding the boom in imports, balance of trade in goods still plunged by 69.83 percent, from $192.29 million in February 2020 to $58.02 million in February 2021,” Perante said.
Accordingly, the total volume of the region’s exports in February 2021 was 73.55 million kilograms with a total value of USD 108.63 million.
Commodity group of copper and articles thereof worth USD 100.21 million comprised the bulk or 92.25 percent of the total exports of the region.
The top export market for the period was Thailand with $42.81 million worth of exports, contributing 39.41 percent to the regional export value in February 2021.
The region’s total volume of imports in February 2021 had a gross weight of 159.54 million kilograms which amounted to $50.60 million.
The top import was ores, slag and ash commodity group posting $ 19.70 million and comprising 38.94 percent of the import receipts.
Australia was the top supplier with USD 19.58 million value of import in February 2021. This value shared 38.69 percent to the total import in the region.
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