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Philippine domestic trade posted double-digit declines in quantity and value in the fourth quarter of 2020, declining 38.8% in quantity and 53.5% in value
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Almost all (99.9%) of the commodities were traded through water (coastwise) in the fourth quarter of 2020 while the rest were traded through air
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Commodities and transactions not elsewhere classified topped in terms of quantity while manufactured goods topped in terms of the value
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Central Visayas ranked highest in terms of quantity while Northern Mindanao was first in terms of value
Philippine domestic trade posted double-digit declines in quantity and value in the fourth quarter of 2020, according to the Philippine Statistics Authority.
Domestic trade decreased 38.8% in quantity to 3.17 million tons in the fourth quarter of last year from 5.19 million tons in the same quarter of 2019.
It contracted 53.5% in value to P82.19 billion in the fourth quarter of 2020 from P176.84 billion in the same period in 2019.
The fourth quarter figures were, however, an improvement from the historic decline of 77.8% in volume and 69.1% in value in the second quarter of 2020, and from the drop of 61.6% in quantity and 60.1% in value in the third quarter.
The record falls in the second quarter reflected the impact of strict quarantine measures which were imposed due to the coronavirus pandemic and severely curtailed business and consumption activities during the period.
Almost all (99.9%) of the commodities were traded through water (coastwise) in the fourth quarter of 2020 while the rest were traded through air.
By commodity, commodities and transactions not elsewhere classified topped in terms of quantity in the fourth quarter of 2020 with 0.94 million tons or a share of 29.6% to the total. This was followed by food and live animals with 0.59 million tons (18.6%) and manufactured goods with 0.57 million tons (17.9%).
By region, Central Visayas recorded the highest quantity of traded commodities with 1.30 million tons or 41.1% share to the total in the fourth quarter of 2020. This was followed by Northern Mindanao (Region X) with a quantity of 1.05 million tons (33.0%) and Bicol Region (Region V) with 0.34 million tons (10.7%).
Manufactured goods topped in terms of the value of traded commodities with P26.72 billion or 32.5% share to the total. This was followed by machinery and transport equipment valued at P24.38 billion (29.7%) and food and live animals which amounted to P13.29 billion (16.2%).
Among the regions, Northern Mindanao ranked first with a total value of traded commodities of P29.96 billion or 36.5% share to the total in the fourth quarter of 2020.
Central Visayas came next with P23.17 billion (28.2%), followed by Eastern Visayas with P17.54 billion (21.3%).
By region, Caraga posted the highest inflow value of domestic trade of P20.94 billion or 25.5% share to the total in the fourth quarter of 2020. This was followed by Central Visayas (Region VII) with inflow value of P14.18 billion (17.2%) and National Capital Region (NCR) with P9.12 billion (11.1%).
On the other hand, Cagayan Valley had the lowest inflow value which amounted to P0.50 million.
The top three regions with favorable trade balances in the fourth quarter of 2020 were Northern Mindanao, P 21.09 billion; Eastern Visayas, P9.28 billion; and Central Visayas, P8.99 billion.
On the other hand, the top three regions with unfavorable trade balances were Caraga, P19.24 billion; NCR, P9.12 billion; and Western Visayas, P6.76 billion.
