TACLOBAN CITY– In November 2024, Eastern Visayas registered a balance of trade in goods (BoT-G) at USD -200.12 million. This widened the region’s trade deficit from USD -8.16 million in the same month of 2023.
Meanwhile, external trade in goods amounted to USD 570.16 million in November 2024. This indicated a 7.4 percent increase compared with the USD 530.98 million total trade in November 2023.
Of the total external trade in November 2024, 32.5 percent were exported goods, while 67.5 were imported goods.
The total export value in November 2024 was USD 185.02 million, indicating a 29.2 percent annual decline from the USD 261.41 million export in November 2023.
The total volume of goods exported by the region in November 2024 was 78.85 million kilograms, lower by 24.9 percent compared with the 104.93 million kilograms of exports in November 2023. Copper and articles thereof commodity group dominated the export market in November 2024 at USD 125.74 million.
This accounted for more than two-thirds (68.0%) of the total value of exports during the month in review. The People’s Republic of China was the main export market with USD 82.37 million (44.5%) worth of exports in November 2024.
The total import value posted an annual increase of 42.9 percent to USD 385.14 million in November 2024 from the USD 269.57 million import value in November 2023. The total volume of goods imported into the region in November 2024 was 188.42 million kilograms, lower by 18.3 percent than the 230.64 million kilograms in November 2023.
The commodity group of ores, slag and ash valued at USD 355.15 million comprised the bulk (92.2%) of the total value of imports in November 2024.
The major import supplier in November 2024 was Australia with USD 148.59 million or 38.6 percent of the total value of imports. (PR)
