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PH domestic trade remains in contraction in Q1

  • Philippine domestic trade continued to decline in both volume and value in the first quarter of 2021
  • Volume decreased 5.3%, but an improvement from the 38.8% decline in the fourth quarter of 2020 and 37.3% contraction for full year 2020
  • Value contracted by 33.2%, slower than the 53.5% drop in the fourth quarter of 2020 but faster than the 29.2% decrease for full year 2020
  • Central Visayas still registered the highest quantity of traded commodities while Eastern Visayas ranked first in terms of value

The Philippines’ domestic trade continued to decline in both volume and value in the first quarter of 2021, according to the Philippine Statistics Authority.

The total quantity of domestic trade in the first quarter of the year dropped 5.3% to 4.57 million tons from 4.83 million tons in the same quarter last year. This was, however, better than the 38.8% decline in the fourth quarter of 2020 and 37.3% contraction for full year 2020.

In terms of value, domestic trade contracted 33.2% to P95.49 billion in the first three months of 2021 from P143.04 billion in the same period last year. It was slower than the 53.5% drop in the fourth quarter of 2020 but faster than the 29.2% decrease for full year 2020.

Almost all (99.9%) of the commodities were traded through water (coastwise) while the rest were traded through air.

By commodity section, manufactured goods led in terms of quantity with 1.37 million tons or a share of 30% to the total. This was followed by commodities and transactions not elsewhere classified with 1.12 million tons (24.5%), and food and live animals with 0.70 million tons (15.4%).

By region, Central Visayas still registered the highest quantity of traded commodities with 2.65 million tons or 58% share to the total in the first quarter of 2021. This was followed by Western Visayas with 0.50 million tons (10.9%) and Caraga with 0.35 million tons (7.7%).

Machinery and transport equipment topped in terms of value with P36.26 billion or 38% share to the total. This was followed by manufactured goods valued at P19.70 billion (20.6%), and food and live animals which amounted to P19.51 billion (20.4%).

Among the regions, Eastern Visayas ranked first in terms of value with P25.70 billion or 26.9% of the total. Central Visayas came next with P20.41 billion (21.4%), followed by Western Visayas with P19.82 billion (20.8%).

Northern Mindanao, meanwhile, posted the highest inflow value of domestic trade of P24.73 billion or 25.9% share to the total in the first quarter of 2021.

This was followed by Central Visayas with P14.00 billion (14.7%), and Western Visayas with P13.99 billion (14.7%). On the other hand, Cagayan Valley remained to have the lowest inflow value which amounted to P1.50 million.

Eastern Visayas had the most favorable trade balance in the first quarter of 2021 with P17.24 billion, followed by Central Visayas with P6.40 billion, and Western Visayas with P5.83 billion.

Northern Mindanao, on the other hand, had the most unfavorable trade balance with P10.32 billion. This was followed by the National Capital Region with P9.71 billion, and Bangsamoro Autonomous Region in Muslim Mindanao with P7.96 billion.

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