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Reference Number :
R12-SR2024-011

 

Total external trade went down by 41.5 percent 

The SOCCSKSARGEN Region's external trade in products in April 2023 decreased by 41.5 percent to US$166.239 million from US$284.225 million in April 2022. (Table 1).

 

The trade balance decreased by 94.3 percent 

Balance of trade in goods (BoT-G) is the difference between the value of exports and imports. The BoT-G amounted to US$4.870 million in April 2023, a decrease of 94.3 percent from US$85.176 million recorded in April 2022 (Table 1).

 

Merchandise Trade

Export value decreased by 56.3 percent to US$80.685 million in April 2023 from US$184.700 million in April 2022. The volume of exports totaled up to 76.239 million kilograms in April 2023 from 141.262 million kilograms the previous year. The value of imports decreased by 14.0 percent to US$85.555 million in April 2023 from US$99.524 million in April 2022. Imports volume was up to 148.064 million kilograms in April 2023 from 176.690 million kilograms in April 2022.

 

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Other Petroleum Oils was the top import commodity

The top import commodity was Other Petroleum Oils at US$14.672 million accounting for 17.1 percent of the region’s overall import value. Followed by Unblended Petroleum Oils at US$11.313 million (13.2%), Skipjack or stripe-bellied bonito at US$8.273 million (9.7%), Other bars and rods of free-cutting steel at US$4.268 million (5.0%), and Other Petroleum Oils with US$3.217 million (3.8%). (Figure 1) 

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China was the largest source of imported goods

The region's largest importer was China with US$31.311 million accounting for 21.1 percent of total imports of the region, followed by Malaysia with US$13.242 million (8.9%), Vietnam with US$9.537 million (6.4%), Papua New Guinea with US$9.378 million (6.3%), and Soth Korea with US$7.820 million (5.3%).

Gas Oils were the leading imports in China; Unblended Petroleum Oils in Malaysia; Other Semi-milled or wholly-milled rice in Vietnam; Skipjack or striped-bellied bonito in Papua New Guinea; and Other Petroleum Oils in South Korea. (Figure 2)

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Other Crude Oils were the top export goods

Other Crude Oils; Tunas in airtight containers; Other fish, whole or in pieces; Pineapples in airtight containers; and Fresh Pineapples were the top five export goods in terms of FOB Value. Other Crude Oils were valued at US$15.244 million (18.9%); Tunas in airtight containers at US$13.992 million (17.3%); Other fish, whole or in pieces, US$9.197 million (11.4%); Pineapples in airtight container at US$6.336 million (7.9%), and Fresh Pineapples at US$6.325 million (7.8%). (Figure 3)

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The United States of America was the top export commodity destination

The United States of America was the region's top export market with US$20.196 million accounting for 25.0 percent of the total export value. Following it was the Netherlands with US$16.876 million (20.9%), Japan with US$12.026 million (14.9%), China with US$4.596 million (5.7%), and Spain with US$3.811 million (4.7%).

Other Pineapple Juice was the top export in the United States of America. Other Crude Oil in Netherlands, Fresh Pineapples in Japan and China, and Other Fish, whole or in pieces in Spain. (Figure 4).

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Volume and Value of Imported and Exported Goods, SOCCSKSARGEN Region: May 2023

The value of exports decreased by 40.3 percent to US$119.975 million in May 2023 from US$201.099 million in May 2022. The volume of exports totaled up to 107.515 million kilograms in May 2023 from…

Volume and Value of Imported and Exported Goods, SOCCSKSARGEN Region: April 2023

Export value decreased by 56.3 percent to US$80.685 million in April 2023 from US$184.700 million in April 2022. The volume of exports totaled up to 76.239 million kilograms in April 2023 from 141.…

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