PH domestic trade volume shrinks 29.5% in Q4 2021

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  • The Philippines’ domestic trade saw double-digit decline in the fourth quarter of 2021
  • Volume dropped 29.5% and value shrank 36.4%
  • Almost all or 99.9% of the commodities were traded through water and the rest through air
  • Food and live animals were the most traded in terms of quantity and machinery and transport equipment in terms of value
  • Central Visayas had the highest quantity of domestic trade while Eastern Visayas ranked first in value

The Philippines’ domestic trade recorded double-digit declines in both volume and value in the last quarter of 2021, according to preliminary data from the Philippine Statistics Authority.

The total quantity of domestic trade in the fourth quarter of 2021 was at 3.32 million tons, a 29.5% drop from 4.71 million tons in the same quarter in 2020. This was the second quarter this year that the volume of domestic trade recorded a decline following a 5.3% decrease in the first quarter.

In terms of value, domestic trade in the fourth quarter of 2021 plunged 36.4% to P105.86 billion from P166.52 billion year-on-year. The value of domestic trade only recorded an increase this year in the second quarter.

The declines may likely have been affected by varying restrictions imposed due to the COVID-19 pandemic.

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

By commodity section, food and live animals led in terms of quantity of domestic trade in the fourth quarter of 2021 with 1.13 million tons or a share of 34% of the total. This was followed by manufactured goods with 0.71 million tons (21.3%) and commodities and transactions not elsewhere classified with 0.52 million tons (15.6%).

In terms of value, machinery and transport equipment topped with P32.49 billion or 30.7% share of the total. Manufactured goods valued at P24.92 billion (23.5%) came next then food and live animals, P23.85 billion (22.5%).

By region, Central Visayas registered the highest quantity of traded commodities with 1.47 million tons or 44.2% share of the total in the fourth quarter of 2021. Bicol Region followed with 0.49 million tons (14.7%), and Northern Mindanao with 0.32 million tons (9.5%).

Eastern Visayas recorded the highest value of traded commodities with P23.61 billion or 22.3% share of the total in the fourth quarter of 2021. Next was Central Visayas with P22.71 billion (21.5%) then Northern Mindanao with P18.67 billion (17.6%).

Caraga posted the highest inflow value of domestic trade at P28.17 billion or 26.6%, followed by Western Visayas, P15.23 billion (14.4%); and Central Visayas, P14.58 billion (13.8%).

Central Luzon posted the lowest inflow value at P86 million.

The top three regions with favorable trade balances in the fourth quarter of 2021 were Eastern Visayas, P12.78 billion; Northern Mindanao, P9.62 billion; and Central Visayas, P8.13 billion.

The three regions with unfavorable trade balances, on the other hand, were Caraga, -P24.29 billion; Zamboanga Peninsula, -P6.29 billion; and MIMAROPA Region, -P1.71 billion.