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HomeBreaking NewsPH domestic trade volume flat, value dives in Q3

PH domestic trade volume flat, value dives in Q3

  • The Philippines’ domestic trade volume in Q3 grew slightly at 0.78% but value declined 14.9%
  • Almost all commodities were traded via water
  • Manufactured goods led in terms of quantity while machinery and transport equipment led in value
  • Central Visayas posted the highest quantity of domestic trade while Eastern Visayas ranked first in value

The Philippines’ domestic trade grew slightly in volume but dropped in value during the third quarter of 2021, preliminary data from the Philippine Statistics Authority showed.

The total quantity of domestic trade in the third quarter of 2021 was at 3.84 million tons, a slight increment of 0.78% from 3.81 million tons in the same quarter last year.

In terms of value, domestic trade in the third quarter of 2021 amounted to P142.33 billion, a 14.9% decline from the P167.26 billion value recorded in the same period last year.

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

By commodity, manufactured goods led in terms of quantity in the third quarter of this year with 1.41 million tons or 36.8% of the total. This was followed by food and live animals with 0.79 million tons (20.5%) and commodities and transactions not elsewhere classified with 0.50 million tons (13.1%).

Machinery and transport equipment, on the other hand, topped in terms of value with P44.80 billion or a 31.5% share. Manufactured goods followed with P36.66 billion (25.8%) and food and live animals with P29.41 billion (20.7%).

By region, Central Visayas registered the highest quantity of traded commodities with 1.52 million tons or 39.5% share. This was followed by Bicol Region with 0.47 million tons (12.4%) and Northern Mindanao with 0.44 million tons (11.4%).

In terms of value, Eastern Visayas ranked first with a total value of P32.31 billion or 22.7% share to the total. Northern Mindanao came next with P28.51 billion (20%), followed by Central Visayas with P25.44 billion (17.9%).

Caraga posted the highest inflow value at P34.81 billion or a 24.5% share. It was followed by Central Visayas with P26.82 billion (18.8%) and Western Visayas with P18.11 billion (12.7%).

Cagayan Valley had the lowest inflow value of P1.5 million.

The top three regions with favorable trade balances in the third quarter of 2021 were Eastern Visayas, Northern Mindanao and the Bicol Region, while the top three regions with unfavorable trade balances were Caraga, MIMAROPA and Zamboanga Peninsula.

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