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PH domestic trade up double-digit in 2021
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Domestic trade continued to recover from weakness in 2020 precipitated by the COVID-19 pandemic
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Volume of trade grew 24.6% while value of trade rose 21.6%
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9% of commodities traded were water-borne, while the rest were traded by air
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Central Visayas again recorded the highest quantity and highest inflow value while the National Capital Region had the most favorable trade balance
The Philippine domestic trade grew double-digit in both in volume and value in 2021, as it continued to recover from weakness in 2020 triggered by the COVID-19 pandemic, according to data from the Philippine Statistics Authority.
The volume of trade in 2021 was recorded at 20.22 million tons, an annual increment of 24.6% from 16.23 million tons in 2020. In terms of value, domestic trade rose 21.6% to P718.44 billion from P590.66 billion in 2020.
The domestic trade figures last year were still significantly lower than in 2019, when the total quantity of 25.89 million tons was up just 0.4% from 25.78 million tons in 2018. In value terms, domestic trade in 2019 was P834.72 billion, a decline of 2.9% from the P859.57 billion in 2018.
Almost all or 99.9% of the commodities traded were water-borne (coastwise), while the rest were traded by air.
By commodity segment, manufactured goods led in terms of quantity in 2021 at 5.54 million tons, or a share of 27.4% of the total. This was followed by food and live animals at 4.68 million tons, or 23.1%, and commodities and transactions not elsewhere classified at 3.05 million tons, or 15.1%.
Machinery and transport equipment, meanwhile, topped in terms of value at P200.55 billion, or a 27.9% share of the total. This was followed by food and live animals valued at P171.36 billion, or 23.9%, and manufactured goods classified chiefly by material, which amounted to P160.23 billion, a share of 22.3%.
By region, Central Visayas again recorded the highest quantity of traded commodities at 7.06 million tons, or a 34.9% share of the total in 2021.
This was followed by the National Capital Region (NCR) with a quantity of 3.22 million tons, or a 15.9% share, and Bicol Region with 2.18 million tons, or a 10.8% share.
NCR, on the other hand, ranked first in value at P198.17 billion, or a 27.6% share of the total in 2021. Eastern Visayas came next with traded commodities amounting to P119.76 billion, a16.7% share, followed by Western Visayas at P117.53 billion, or a 16.4% share.
Central Visayas again posted the highest inflow value of domestic trade atP135.54 billion, or an 18.9% share of the total in 2021.
This was followed by Caraga with P133.82 billion, an 18.6% share, and Western Visayas at P113.64 billion, for a 15.8% share.
Cagayan Valley, meanwhile, again had the lowest inflow value at P5.8 million.
The top three regions with favorable domestic trade balances in 2021 were NCR, P130.32 billion; Eastern Visayas, P61.71 billion; and Northern Mindanao, P37.62 billion.
The top three regions with unfavourable or negative domestic trade balances last year were Caraga with a deficit of P115.16 billion; Central Visayas with a P37.60 billion shortfall; and Davao Region with P30.23 billion trade gap.
The total number of outbound passengers in 2021 was 5.19 million, all of whom were transported via water (coastwise). This indicates a 28.6% contraction from the 7.28 million passengers in 2020.
Bicol Region recorded the highest number of passengers in 2021 at 1.22 million. This was followed by Western Visayas at 1.02 million passengers, and Central Visayas at 0.92 million passengers.
