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PH domestic trade weakens in 2Q

Philippine domestic trade declined both in volume and value in the second quarter of 2019, the latest data from the Philippine Statistics Authority (PSA) showed.

PSA said preliminary figures showed that the total quantity of domestic trade during the second quarter of 2019 reached 5.86 million tons, down 10% from the 6.51 million tons recorded in the second quarter of 2018. This is the first recorded decline after eight consecutive quarters of increases since 2017.

Food and live animals commodities led in terms of quantity, with 1.74 million tons or 29.7% share to total quantity of domestic trade. Animal and vegetable oils, fats and waxes commodities had the least quantity with 0.03 million tons.

The value of domestic trade continued to drop, falling to P177.50 billion during the second quarter of 2019, down by 17.9% from the P216.29 billion total value in the same quarter of 2018. This is the second quarter in a row of decline after recording improvements for all of 2018.

Machinery and transport equipment continued to lead with value amounting to P64.42 billion or 36.3% of the total, while food and live animals with a value of P38.97 billion and manufactured goods with P18.48 billion placed second and third, respectively.

Almost all of the commodities, or 99.9%, were traded through water (coastwise) while the remaining 0.1% were traded through air.

Among the regions, Northern Mindanao still registered the highest quantity of traded commodities with 1.93 million tons during the second quarter of 2019. Central Luzon and National Capital Region (NCR) followed with 0.86 million tons and 0.74 million tons, respectively.

Other regions recorded trading quantities were as follows: Bicol Region, 0.70 million tons; Western Visayas, 0.62 million tons; Eastern Visayas, 0.33 million tons; Central Visayas, 0.30 million tons; Caraga, 0.15 million tons; MIMAROPA (Mindoro, Marinduque, Romblon, Palawan) Region, 0.06 million tons;  SOCCSKSARGEN, 0.06 million tons; Zamboanga Peninsula, 0.06 million tons; Autonomous Region in Muslim Mindanao (ARMM), 0.03 million tons; Davao Region, 0.009 million tons; and CALABARZON (Cavite, Laguna, Batangas, Rizal, Quezon), 0.001 million tons.

Outflow–the total value of commodities that go out of a specified region or province–and inflow–the total value of commodities coming into a specified region–in the second quarter of 2019 recorded a 17.6% decline to P177.504 billion from P216.288 billion in the second quarter of 2018.

Among the regions, NCR registered the highest outflow value amounting to P44.47 billion or 25.1% of the total, followed by Eastern Visayas and Western Visayas with P30.65 billion and P29.22 billion, respectively.

For inflow, Caraga exhibited the highest inflow value amounting to P33.44 billion or 18.8% of the total inflow. Central Visayas and Western Visayas followed with P31.70 billion and P28.85 billion, respectively.

Trade balance is the difference between the outflow and inflow, that is, outflow value minus inflow value.

NCR remained the region with the highest trade balance at P28.30 billion, followed by Eastern Visayas with trade balance amounting to P15.49 billion.

Other regions with favorable trade balances were Bicol Region, P7.74 billion; Central Luzon, P6.87 billion; Western Visayas, P0.37 billion; ARMM, P39.63 million; and Northern Mindanao, P21.30 million.

On the other hand, the nine regions with negative trade balances were Caraga, P28.49 billion; Central Visayas, P11.84 billion; CALABARZON, P6.88 billion; Davao Region, P6.41 billion; Zamboanga Peninsula, P3.91 billion; Ilocos Region, P0.71 billion; SOCCSKSARGEN, P0.57 billion; MIMAROPA Region, P16.27 million; and Cagayan Valley, P0.70 million.

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