- Philippine domestic trade fell 25.5% in volume and 6% in value in the third quarter of 2022
- 99.9% of the commodities were traded water-borne(coastwise), while the rest were traded by air
- By commodity type, mineral fuels, lubricants and related materials fled in terms of quantity while machinery and transport equipment topped in terms of value
- Central Visayas registered the highest quantity, value, and inflow value during the third quarter
Philippine domestic trade fell in both volume and value in the third quarter of 2022, according to preliminary data from the Philippine Statistics Authority (PSA).
The total quantity of domestic trade in the third quarter of 2022 was 4.12 million tons, down 25.5% from 5.23 million tons recorded in the same quarter of 2021. This was also higher than the 17.8% annual decrement in the second quarter of 2022. This is the third consecutive month of decline for volume.
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In terms of value, domestic trade in the third quarter declined 6% to P181.46 billion from P193.12 billion in the same period of 2021.
Almost all or 99.9% of the commodities were traded water-borne (coastwise), while the rest were traded by air.
By commodity type, mineral fuels, lubricants and related materials led in terms of quantity of domestic trade in the third quarter at 910,000 tons or 22% of the total. These were followed by food and live animals at 790,000 tons or 19.3% and manufactured goods at 670,000 tons or 16.4%.
Machinery and transport equipment topped in terms of value of traded commodities at P50.83 billion or 28% of the total. They were followed by manufactured goods at P42.39 billion or 23.4% and food and live animals, which were valued P35.74 billion or 19.7%.
By region, Central Visayas registered the highest quantity of traded commodities at 1.16 million tons or 28.1% of the total in the third quarter. This was followed by Central Luzon at 930,000tons or 22.6% of the total and Western Visayas at 510,000 tons or 12.5%.
Central Visayas also topped in terms of value at P45.91 billion or 25.3% of the total in the third quarter. Northern Mindanao followed at P40.49 billion or 22.3%, and Western Visayas atP36.95 billion or 20.4%.
Central Visayas likewise posted the highest inflow value of domestic trade at P38.74 billion or 21.3% of the total, followed by Western Visayas at P31.86 billion or 17.6% and Caraga atP27.44 billion or 15.1%. Ilocos Region, on the other hand, had the lowest inflow value of P411.29 million.
In terms of trade balance, Northern Mindanao, MIMAROPA Region, and Central Luzon had recorded the most favorabletrade balances during the third quarter.
In contrast, Caraga, CALABARZON, and National Capital Region had the most unfavorable or negative trade balances for the period.
