Total external trade went down by 47.4 percent 

The SOCCSKSARGEN Region's external trade in products in May 2023 decreased by 47.4 percent to US$165.093 million from US$314.075 million in May 2022. (Table 1).

The trade balance decreased by 15.1 percent 

Balance of trade in goods (BoT-G) is the difference between the value of exports and imports. The BoT-G amounted to US$74.857 million in May 2023, a decrease of 15.1 percent from US$88.122 million recorded in May 2022 (Table 1).

Merchandise Trade

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 149.942 million kilograms the previous year. Imports value decreased by 60.1 percent to US$45.118 million in May 2023 from US$112.976 million in May 2022. Imports volume was up to 153.384 million kilograms in May 2023 from 201.223 million kilograms in May 2022.

Other Coal was the top import commodity

Other Coal was the top import commodity at US$10.305 million accounting for 22.8 percent of the region’s overall import value. Followed by Skipjack or striped-bellied bonito at US$8.205 million (18.2%), Copra at US$3.106 million (6.9%), Yellowfin Tunas at US$2.666 million (5.9%), and Other prefabricated modular type joined structures with US$2.661 million (5.9%). (Figure 1) 

China was the largest source of imported goods

China was the region's largest importer with US$12.758 million accounting for 28.3 percent of total imports. It was followed by Indonesia with US$10.722 million (23.8%), Seychelles Republic with US$6.262 million (13.9%), Papua New Guinea with US$3.603 million (8.0%), and Spain with US$2.669 million (5.9%).

Other prefabricated modular type joined structures were the leading imports in China; Other coal in Indonesia; Skipjack or striped-bellied bonito in Indonesia and Spain; and Copra in Papua New Guinea. (Figure 2)

Other Crude Oils were the top export goods

Other Crude Oils, Tunas in airtight containers, Other fish, whole or in pieces, Fresh Pineapples, and Other Pineapple Juice were the top five export goods in terms of FOB Value. Other Crude Oils were valued at US$34.321 million (28.6%); Tunas in airtight containers at US$22.481 million (18.7%), Other fish, whole or in pieces at US$10.089 million (8.4%); Fresh Pineapples at US$7.751 million (6.5%); Other Pineapple Juice at US$6.452 million (5.4%). (Figure 3)

Netherlands was the top export commodity destination

The region's top export market was Netherlands with US$29.164 million accounting for 24.3 percent of the total export value. Following it was the United States of America with US$24.974 million (20.8%), the Japan with US$14.902 million (12.4%), Italy with US$8.365 million (7.0%), and Spain with US$6.866 million (5.7%).

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