Philippine domestic trade recorded double-digit declines in both volume and value in full-year 2020
Total quantity of domestic trade decreased by 37.3% while the total value dropped 29.2% compared to 2019
By mode of transport, 99.97% of the total commodities were traded through water, while the remaining were traded through air
Central Visayas again had the highest quantity of traded commodities and highest inflow value
Philippine domestic trade recorded double-digit declines in both volume and value in 2020, data from the Philippine Statistics Authority (PSA) showed.
Restrictions in movement to curb the spread of COVID-19 have impaired operations of many businesses in 2020, affecting both domestic and international trade.
The total quantity of domestic trade in 2020 was recorded at 16.23 million tons, a decrease of 37.3% from 25.89 metric tons in 2019.
By commodity section, food and live animals topped in terms of quantity last year, with 4.43 million tons or a share of 27.3% to the total. This was followed by commodities and transactions not elsewhere classified with 2.90 million tons (17.9%), and manufactured goods with 2.89 million tons (17.8%).
Domestic trade value likewise dropped 29.2% to P590.66 billion in 2020 from P834.72 billion in 2019.
Machinery and transport equipment topped in terms of value with P150.58 billion or 25.5% share to the total. This was followed by food and live animals valued at P138.12 billion (23.4%), and manufactured goods which amounted to P131.59 billion (22.3%).
By mode of transport, the total value of traded commodities through water accounted for almost all (99.97%) of the total commodities that flowed within the country last year, while the remaining were traded through air.
By region, as it did in 2019, Central Visayas again recorded the highest quantity of traded commodities, with 3.69 million tons or 22.8% share to the total in 2020. This was followed by Northern Mindanao with a quantity of 3.35 million tons (20.6%) and Bicol Region with 1.95 million tons (12%).
Northern Mindanao, meanwhile, ranked first in terms of value with P111.64 billion or 18.9% share to the total. Central Visayas came next with P110.39 billion (18.7%), followed by Western Visayas with P109.04 billion (18.5%).
By region, Central Visayas also again posted the highest inflow value of domestic trade of P108.38 billion or 18.3%, followed by Western Visayas with P105.93 billion (17.9%) and Caraga with P93.69 billion (15.9%). On the other hand, Cagayan Valley had the lowest inflow value which amounted to P3.05 million.
The top three regions with favorable domestic trade balances in 2020 were Northern Mindanao, National Capital Region (NCR), and Eastern Visayas.
On the other hand, the top three regions with negative trade balances in 2020 were Caraga, Zamboanga Peninsula, and Calabarzon.