Total external trade up by 45.3 percent

The SOCCSKSARGEN Region's external trade in products in April 2024 increased by 45.3 percent at US$241.576 million from US$166.239 million in April 2023. (Table 1).

Trade balance increased by 927.3 percent

Balance of trade in goods (BoT-G) is the difference between the value of exports and imports. The BoT-G amounted to US$50.028 million in April 2024, increase by 927.3 percent from US$4.870 million recorded in April 2023 (Table 1).

Merchandise Trade

Export value went up by 80.7 percent to US$145.802 million in April 2024 from US$80.685 million in April 2023. The volume of exports summed up to 135.809 million kilograms in April 2024 from 76.239 million kilograms the previous year. The value of imports increased by 11.9 percent to US$95.774 million in April 2024 from US$85.555 million in April 2023. Imports volume were up to 318.034 million kilograms in April 2024 from 148.064 million kilograms in April 2023.
 

Skipjack or stripe-bellied bonito was the top import commodity

The top import commodity of the region was Skipjack or stripe bellied bonito at US$13.460 million accounting for 14.1 percent of the region’s overall import value. Followed by Gas oils at US$11.984 million (12.5%), Unblended Petroleum Oils with US$10.879 million (11.4%), Yellowfin Tunas with US$7.470 million (7.8%), and Other crude oils with US$4.546 million (4.7%). (Figure 1)

Papua New Guinea was the largest source of import goods

Papua New Guinea was the region's largest importer with US$16.561 million accounting for 17.3 percent of total imports of the region. Followed by Japan with US$15.678 million (16.4%), China with US$13.966 million (14.6%), Malaysia with US$12.754 million (13.3%), and Indonesia with US$12.193 million (12.7%).

Skipjack or striped bellied bonito was the leading imports from in Papua New Guinea, Gas Oils in Japan; Guardrails in China; Unblended Petroleum Oils in Malaysia; Other Coal in Indonesia. (Figure 2)

Other Crude Oils were the top export goods

Other crude oils, Other coconut oil, Tunas in airtight containers, Other prepared or preserved fish, and Pineapple in airtight container were the top five export goods in terms of FOB Value. Other crude oils were valued at US$25.501 million (17.5%); Other coconut oil at US$22.881 million (15.7%); Tunas in airtight containers at US$19.894 million (13.6%); Other prepared or preserved fish at US$13.493 million (9.3%); and Pineapple in airtight container at US$9.966 million (6.8%). (Figure 3)

Netherlands was the top export commodity destination

The Netherlands were the region's top export market with US$21.894 million accounting for 15.0 percent of the total export value. Following it was the United States of America with US$18.502 million (12.7%), Japan with US$13.455 million (9.2%), Malaysia with US$13.406 million (9.2%), and Spain with US$10.913 million (7.5%).

Other crude oil was the top exports in Netherlands, Other pineapple juice in United States of America, Fresh Pineapples in Japan, Other coconut oil in Malaysia, Other prepared or preserved fish in Spain. (Figure 4).

Approved for Release:

SGD.
ATTY. MAQTAHAR L. MANULON, CESO V
Regional Director

For inquiries, please contact:

SITTIMAZUIN M. HOFILEÑA/NORJAHNA M. HADJINOR-DISCAYA
Statistical Operations and Coordination Division, PSA-RSSO XII
Telephone Number (083) 825-2830