Total external trade went down by 8.0 percent 

The SOCCSKSARGEN Region's external trade in products in July 2023 decreased by 8.0 percent to US$199.221 million from US$216.583 million in July 2022. (Table 1).

The trade balance increased by 52.2 percent 

Balance of trade in goods (BoT-G) is the difference between the value of exports and imports. The BoT-G amounted to US$40.363 million in July 2023, increased by 52.2 percent from US$26.528 million recorded in July 2022 (Table 1).

Merchandise Trade

The export value decreased by 1.5 percent to US$119.792 million in July 2023 from US$121.555 million in July 2022. The volume of exports totaled up to 117.288 million kilograms in July 2023 from 117.569 million kilograms the previous year. The value of imports decreased by 16.4 percent to US$79.429 million in July 2023 from US$95.028 million in July 2022. Imports volume was up to 157.705 million kilograms in July 2023 from 147.754 million kilograms in July 2022.

Skipjack or striped-bellied bonito was the top import commodity

The top import commodity was Skipjack or striped-bellied bonito at US$11.510 million accounting for 14.5 percent of the region’s overall import value. Followed by Unblended Petroleum Oils at US$8.007 million (10.1%), Yellowfin Tunas at US$7.901 million (9.9%), Gas Oils at US$7.222 million (9.1%), and Other Coal with US$3.733 million (4.5%). (Figure 1) 

China was the largest source of imported goods

China was the region's largest importer with US$24.315 million accounting for 30.6 percent of total imports. It was followed by Papua New Guinea with US$14.118 million (17.8%), Malaysia with US$13.274 million (16.7%), Indonesia with US$7.750 million (9.8%), and Singapore with US$4.308 million (5.4%).

Gas Oils were the leading imports in China; Skipjack or striped-bellied bonito  in Papua New Guinea, Unblended Petroleum Oils in Malaysia; Other coal in Indonesia; and Other Petroleum Oils in Singapore. (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$33.578 million (28.0%); Tunas in airtight containers at US$20.725 million (17.3%); Pineapples in airtight containers at US$12.138 million (10.1%); Fresh Pineapples at US$8.519 million (7.1%); and Other Pineapple Juice at US$6.480 million (5.4%). (Figure 3)

The Netherlands was the top export commodity destination

The region's top export market was the Netherlands with US$36.155 million accounting for 30.2 percent of the total export value. Following it was the United States of America with US$27.247 million (22.7%), Japan with US$14.495 million (12.1%), Spain with US$5.533 million (4.6%), and Germany with US$4.307 million (3.6%).

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