Home » Customs & Trade, Ports/Terminals » PH Q1 domestic trade volume up 8.4% but value down slightly

Philippine domestic trade in the first quarter of 2019 grew for the eighth quarter in a row in terms of volume, but declined in value for the first time after four consecutive quarters of increases, data from the Philippine Statistics Authority showed.

For the period January to March 2019, the volume of domestic trade reached 5.54 million tons, an increase of 8.4% from the 5.11 million tons recorded in the first quarter of 2018.

Food and live animals commodities again led in quantity, with 1.19 million tons or 21.5% share to total. Animal and vegetable oils, fats and waxes commodities had the least quantity with 0.04 million tons.

The value of domestic trade, however, dropped 0.6% to P173.75 billion during the first quarter of 2019 from P174.88 billion in the same quarter of 2018.

Machinery and transport equipment continued to account for the highest value of traded commodities during the first quarter of 2019, amounting to P59.74 billion or 34.4% of the total. Food and live animals, with a value of P38.40 billion, and manufactured goods classified chiefly by material, with P22.49 billion, placed second and third, respectively.

Completing the top 10 commodity sections in terms of value were mineral fuels, lubricants and related materials, P13.43 billion; chemical and related products, P11.74 billion; beverages and tobacco, P8.66 billion; miscellaneous manufactured articles, P7.30 billion; commodities and transactions, not elsewhere classified in the Philippine Standard Commodity Classification, P7.13 billion; crude materials, inedible except fuels, P3.12 billion; and animal and vegetable oils, fats and waxes, P1.75 billion.

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 posted the highest quantity of traded commodities during the first quarter of 2019 with 1.59 million tons. Central Luzon and National Capital Region (NCR) followed with 1.13 million tons and 0.72 million tons, respectively.

Other regions’ recorded trading quantities were as follows: Central Visayas, 0.71 million tons; Western Visayas, 0.40 million tons; Eastern Visayas, 0.29 million tons; Bicol Region, 0.24 million tons; Caraga Region, 0.16 million tons; Davao Region, 0.09 million tons; SOCCSKSARGEN (South Cotabato, Cotabato, Sultan Kudarat, Sarangani, General Santos City), 0.06 million tons; Zamboanga Peninsula, 0.05 million tons; ARMM (Autonomous Region of Muslim Mindanao), 0.05 million tons; MIMAROPA (Occidental Mindoro, Oriental Mindoro, Marinduque, Romblon, and Palawan) Region, 0.04 million tons; and CALABARZON (Cavite, Laguna, Batangas, Rizal, and Quezon), 0.88 thousand 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 first quarter of 2019 posted a decrease of 0.6% to P173.75 billion from P174.88 billion in the same quarter of 2018.

Among the regions, NCR exhibited the highest outflow value amounting to P45.63 billion or 26.3% of the total outflow. Central Visayas and Eastern Visayas followed with P30.23 billion and P25.77 billion, respectively.

On inflow, Central Visayas exhibited the highest value amounting to P33.59 billion or 19.3% of the total. Caraga and Western Visayas followed with P30.32 billion and P23.74 billion, respectively.

Of the 17 ]should this be 16 since only 6 favorable regions and 10 unfavorable regions are mentioned?[ regions, six registered favorable trade balances in the first quarter of 2019. Trade balance is the difference between outflow and inflow.

NCR topped with a trade balance of P25.55 billion, followed by Eastern Visayas with trade balance amounting to P13.44 billion. Other regions with favorable trade balances were Central Luzon, P8.85 billion; Bicol Region, P1.56 billion; ARMM, P1.26 billion; and SOCCSKSARGEN, P121.94 million.

In contrast, 10 regions recorded unfavorable trade balance, and these were  Caraga Region, P24.49 billion; Zamboanga Peninsula, P6.56 billion; CALABARZON, P4.45 billion; Davao Region, P4.43 billion; MIMAROPA Region, P3.72 billion; Central Visayas, P3.35 billion; Western Visayas, P1.99 billion; Ilocos Region, P0.90 billion; Northern Mindanao, P0.86 billion; and Cagayan Valley, P5.34 million.

No comments yet... Be the first to leave a reply!

Leave a Reply

Your email address will not be published. Required fields are marked *

two × five =