Total external trade went down by 18.1 percent 

The SOCCSKSARGEN Region's external trade in products in August 2023 decreased by 11.5 percent to US$220.907 million from US$249.510 million in August 2022. (Table 1).

The trade balance decreased by 39.9 percent 

Balance of trade in goods (BoT-G) is the difference between the value of exports and imports. The BoT-G amounted to US$45.815 million in August 2023, decreased by 39.9percent from US$76.251 million recorded in August 2022 (Table 1).

Merchandise Trade

The export value decreased by 18.1 percent to US$1133.361 million in August 2023 from US$162.881 million in August 2022. The volume of exports totaled up to 133.304 million kilograms in August 2023 from 137.308 million kilograms the previous year. The value of imports slightly increased by 1.1 percent to US$87.546 million in August 2023 from US$86.630 million in August 2022. Imports volume was up to 174.868 million kilograms in August 2023 from 204.418 million kilograms in August 2022.

Skipjack or striped-bellied bonito was the top import commodity

The top import commodity was Skipjack or striped-bellied bonito at US$18.824 million accounting for 21.5 percent of the region’s overall import value. Followed by Gas Oils at US$15.646 million (17.9%), Unblended Petroleum Oils at US$9.661 million (11.0%), Yellowfin Tunas at US$7.391 million (8.4%), and Other Petroleum Oils with US$3.446 million (3.9%). (Figure 1) 

China was the largest source of imported goods

China was the region's largest importer with US$16.795 million accounting for 30.6 percent of total imports. It was followed by Malaysia with US$15.587 million (17.8%), Papua New Guinea with US$8.040 million (9.2%), Indonesia with US$7.592 million (8.7%), and Republic of Marshall Islands with US$6.602 million (7.5%).

Gas Oils were the leading imports in China; Unblended Petroleum Oils in Malaysia; Yellowfin Tuna in Papua New Guinea; Other coal in Indonesia; and Skipjack or striped-bellied bonito in Republic of Marshall Islands. (Figure 2)

Other Crude Oils were the top export goods

Other Crude Oils, Tunas in airtight containers, Pineapple in airtight containers, Fresh Pineapples, and Other Pineapples Juice were the top five export goods in terms of FOB Value. Other Crude Oils were valued at US$40.685 million (30.5%); Tunas in airtight containers at US$23.848 million (17.9%); Pineapples in airtight containers at US$13.375 million (10.0%); Fresh Pineapples at US$7.835 million (5.9%); and Other Pineapple Juice at US$5.138 million (3.9%). (Figure 3)

The Netherlands was the top export commodity destination

The Netherlands was the region's top export market with US$38.182 million accounting for 28.6 percent of the total export value. Following it was the United States of America with US$31.770 million (23.8%), Japan with US$11.864 million (8.9%), Italy with US$11.281 million (8.5%), and Spain with US$5.953 million (4.5%).

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