Total external trade up by 48.3 percent
The SOCCSKSARGEN Region's external trade in products in May 2024 increased by 48.3 percent at US$244.817 million from US$165.093 million in May 2023 (Table 1).

Trade balance decreased by 8.9 percent 
Balance of trade in goods (BoT-G) is the difference between the value of exports and imports. The BoT-G amounted to US$68.206 million in May 2024, decrease by 8.9 percent from US$74.857 million recorded in May 2023 (Table 1).

Merchandise Trade
Export value went up by 30.5 percent to US$156.512 million in May 2024 from US$119.975 million in May 2023. The volume of exports summed up to 129.561 million kilograms in May 2024 from 107.515 million kilograms the previous year. The value of imports increased by 95.7 percent to US$88.305 million in May 2024 from US$45.118 million in May 2023. Imports volume were up to 204.145 million kilograms in May 2024 from 153.384 million kilograms in May 2023 (Table 1).

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$25.800 million accounting for 29.2 percent of the region’s overall import value. Followed by Other Crude Oils at US$8.834 million (10.0%), Unblended Petroleum Oils with US$7.641 million (8.7%), Yellowfin Tunas with US$5.734 million (6.5%), and Other semi-milled or wholly milled rice with US$4.839 million (5.5%). (Figure 1)

Indonesia was the largest source of import goods

Indonesia was the region's largest importer with US$16.266 million accounting for 18.4 percent of total imports of the region. Followed by Vietnam with US$12.519 million (14.2%), Papua New Guinea with US$10.563 million (12.0%), Malaysia with US$10.087 million (11.4%), and Spain with US$8.375 million (9.5%).

Other Crude Oil was the leading imports from Indonesia, Other semi-milled or wholly milled rice from Vietnam, Skipjack or striped bellied bonito from Papua New Guinea and Spain; and Unblended Petroleum Oils in Malaysia. (Figure 2)

Other Crude Oils were the top export goods

Other crude oils, Other coconut oil, Other prepared or preserved fish, Tunas in airtight containers, and Pineapple in airtight container were the top five export goods in terms of FOB Value. Other crude oils were valued at US$44.582 million (28.5%); Other coconut oil at US$20.846 million (13.3%); Other prepared or preserved fish at US$19.556 million (12.5%); Tunas in airtight containers at US$17.125 million (10.9%); and Pineapple in airtight container at US$9.100 million (5.8%). (Figure 3)

Netherlands was the top export commodity destination

The region's top export market was the Netherlands with US$38.688 million accounting for 24.7 percent of the total export value. Following it was the Italy with US$24.814 million (15.9%), United States of America with US$19.772 million (12.6%), Japan with US$17.799 million (11.4%), and Spain with US$11.837 million (7.6%).

Other crude oil was the top exports in Netherlands and Italy, Pineapple in airtight container in United States of America, and Other prepared or preserved fish in Japan and 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