Philippine domestic trade increased 39.3% in the second quarter of 2016 to P158.71 billion from P113.93 billion in the same period last year.
Data from the Philippine Statistics Authority showed that domestic trade transactions conducted on water and air increased 27% during the second quarter of 2016 to 4.72 million tons from 3.72 million tons in the same period of the preceding year.
The second-quarter improvement in both volume and value was higher than the respective 7% and 6.7% recorded in the first quarter. The increase was also a continued positive performance from the continuous decline of domestic trade in 2015.
Water transport remains the main means of transportation, accounting for 99.8% of total local trade transactions.
Machinery and transport equipment amounting to P58.91 billion (37.1%) accounted for the biggest share in overall value, followed by food and live animals with P38.23 billion (24.1%), and by mineral fuels, lubricants and related materials with P17.40 billion (11.0%).
Among the regions, the National Capital Region reported the highest share of domestic trade, contributing P31 billion (19.5%), followed by Western Visayas with P21.67 billion (13.7%) and by Central Visayas with P21.36 billion (13.5%).
Meantime, Calabarzon (Cavite, Laguna, Batangas, Rizal, Quezon) contributed the least share in value of domestic trade, registering P156.20 million or 0.1% of the total.
In terms of trade balance among regions, Central Luzon posted a positive trade balance at P12.59 billion, followed by the Davao Region, P9.16 billion; Eastern Visayas, P7.65 billion; NCR, P3.94 billion; SOCCSKSARGEN ((South Cotabato, Cotabato, Sultan Kudarat, Sarangani, General Santos), P1.95 billion; and Northern Mindanao, P1.67 billion.
On the other hand, Caraga registered a negative trade balance at P30.91 billion. Other regions breaching the billion mark in terms of negative trade balance include Central Visayas, P9.11 billion; Zamboanga Peninsula, P5.64 billion; Calabarzon, P4.04 billion; Western Visayas, P2.43 billion; Mimaropa (Mindoro, Marinduque, Romblon, Pawalan), P1.70 billion; and Ilocos Region, P1.20 billion.
Image courtesy of Stuart Miles at FreeDigitalPhotos.net
