Domestic trade weakens in Q2

MANILA, Philippines — Trade of goods within the country registered a double-digit slowdown both in terms of quality and quantity in the second quarter of the year, the Philippine Statistics Authority (PSA) said.

Preliminary results of the Domestic Trade Statistics in the Philippines Second Quarter 2019 report showed that total domestic trade during the quarter fell by 10 percent to 5.86 million tons from 6.51 million tons in the same period in 2018.

Most of the locally traded goods were food and live animals comprising 1.74 million tons of the domestic shipments volume in the second quarter of the year.

The total value of domestic trade amounted to P177.50 billion during the second quarter of 2019, down by 17.9 percent from P216.29 billion in the same quarter in 2018.

Machinery and transport equipment had the highest value amounting to P64.42 billion or 36.3 percent of the total value of domestic trade during the period.

Among the regions, NCR registered the highest value of goods outflow amounting to P44.47 billion or 25.1 percent of total outflow. This was followed by Eastern Visayas (VIII) and Western Visayas (VI) with values

amounting to P30.65 billion and P29.22 billion, respectively.

In terms of goods inflow, Caraga absorbed the most traded goods with inflow value amounting to P33.44 billion or 18.8 percent of total inflow. Central Visayas (VII) and Western Visayas (VI) followed with P31.70 billion and P28.85 billion, respectively.

Seven regions registered favorable trade balance during the period, with outflows exceeding inflows.

NCR still has the highest trade balance at P28.30 billion, followed by Eastern Visayas (VIII) with a  trade balance of P15.49 billion.

Nine regions, meanwhile, registered negative trade balances in the second quarter.

There were: Caraga, Central Visayas, Calabarzon, Davao Region, Zamboanga peninsula, Ilocos Region, Soccsksargen, Mimaropa and Cagayan Valley.