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The Philippines domestic trade declined by double digits in both volume and value in the second quarter of 2022
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Total quantity dropped 23.9% for the second consecutive month while total value decreased 17.9%
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By commodity type, food and live animals led in terms of quantity
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Trade in machinery and transport equipment topped when it comes to value
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Central Visayas recorded the highest quantity and value of domestic trade, while Eastern Visayas had the most favorable trade balance
The Philippines’ domestic trade posted a double-digit dip in the second quarter of 2022, according to preliminary data from the Philippine Statistics Authority.
The total quantity of domestic trade in the second quarter of the year reached 3.87 million tons, a 23.9% drop from the 5.08 million tons recorded in the same quarter of 2021. This is the second consecutive quarter that domestic trade volume decreased.
Domestic trade amounted to P190.09 billion in the second quarter of 2022, lower by 17.9% from the P231.51 billion posted in the same period last year.
Almost all or 99.9% of the commodities traded were waterborne (coastwise), while the remainder was airborne.
By commodity type, food and live animals led in terms of quantity in the second quarter of 2022 with 0.91 million tons, or a share of 23.6% of the total domestic trade. This was followed by manufactured goods with 0.82 million tons, or 21.1%, followed by machinery and transport equipment with 0.80 million tons, or 20.8%.
Machinery and transport equipment, on the other hand, topped in terms of value at P70.16 billion, or a 36.9% share of the total domestic trade value. This was followed by food and live animals, with a value of P38.75 billion, or 20.4%, and manufactured goods with P30.25 billion, or 15.9%.
By region, Central Visayas recorded the highest quantity of traded commodities with 1.19 million tons or a 30.7% share of the total. This was followed by Western Visayas with 0.57 million tons, or 14.8%, and National Capital Region (NCR) with 0.45 million tons, or 11.7%.
Central Visayas was also the top region in terms of value, accounting for P47.46 billion or 25% of the total. Western Visayas was second with P35.14 billion, or 18.5%, followed by Eastern Visayas with P31.95 billion, or 16.8%.
The top three regions with favorable domestic trade balances in the second quarter were Eastern Visayas, NCR, and Northern Mindanao. The three regions with the most unfavorable domestic trade balances during the period, meanwhile, were Caraga, Zamboanga Peninsula, and CALABARZON.
