Domestic trade expands 4.5%

MANILA, Philippines - Commodities traded within the country went up 4.5 percent in terms of value in the second quarter from a year ago,  the National Statistics Office (NSO) said.

The preliminary results of the NSO’s Commodity Flow in the Philippines report showed the total value of domestic trade went up to P146.24 billion in the April to June period from the P139.91 billion in the comparable period last year.

“Trade transactions through water transport accounted for 99.3 percent and 99.7 percent in the second quarter of 2012 and 2013 respectively,” the statistics agency noted.

Despite the higher value of commodities traded within the country year-on-year, the total quantity of transactions posted a slight decline.

The total quantity of domestic trade transactions decreased by 1.3 percent to 4.81 million tons in the second quarter from 4.87 million tons in the same period in 2012.

Domestic trade refers to the flow of commodities within the country through its water, air and rail transport systems.

Data on domestic trade serves as basis in the formulation and implementation of programs like countryside development and port planning.

Among the commodities traded within the country for the period, food and live animals had the largest chunk or 28.3 percent share, which

was valued at P41.40 billion. Accounting for the second biggest share at 21.3 percent was machinery and transport equipment which was worth P31.09 billion, followed by manufactured goods classified chiefly by materials which had a 16.4 percent share worth P23.94 billion.

The NSO said that by region, most of the traded commodities for the period came from the National Capital Region (NCR) with the value of transactions amounting to P58.48 billion or 40 percent of the total. Central Visayas was the second biggest source with its 17.3 percent share valued at P25.28 billion, followed by Northern Mindanao with its 9.2 percent share amounting to P13.42 billion. In the April to June period, the NSO also said the NCR posted the most favorable trade balance at P38.47 billion. Another region which surpassed the billion positive trade balance for the period was Central Luzon at P6.39 billion. On the other hand, Western Visayas suffered an unfavorable trade balance of negative P9.24 billion. Other regions with more than a billion negative trade balances were Zamboanga Peninsula (P7.60 billion), Northern Mindanao (P4.73 billion), Eastern Visayas (P4.67 billion), Central Visayas (P4.25 billion), CALABARZON (P4.21 billion), Davao (P3.36 billion), Caraga (P3.09 billion) and MIMAROPA (P2.72 billion).