Philippine domestic trade recorded 6.48 million tons in the fourth quarter of 2017, up 4.2% from 6.21 million tons during the same quarter in 2016, data from the Philippine Statistics Authority showed.
The continued growth during the fourth quarter followed the increases in the third and second quarters of 2017 and the 9.5% decline in the first quarter, the drop a first after a full-year recovery in 2016.
Food and live animals remained the top commodities in terms of quantity with 2.50 million tons, or a 72.5% share of all traded commodities. Animal and vegetable oils, fats and waxes continued to be the least traded with only 0.04 million tons.
Value of domestic trade, on the other hand, declined 2.9% to P176.39 billion in the fourth quarter of 2017 from P181.64 billion in the same quarter a year ago.
Water transport remained the main means for commodity flow with 99.9% traded by water while the rest was sent by air.
Machinery and transport equipment still led in terms of value with P59.72 billion or 33.9% of the total value.
In second place was food and live animals, which posted a value of P41.71 billion, while manufactured goods classified chiefly by material came in third with value of P21.24 billion.
Regionally, Northern Mindanao posted the highest quantity of all traded commodities with 1.42 million tons during the fourth quarter of 2017. Northern Mindanao replaced Central Luzon, which was the top in the fourth quarter of 2017 ]second?[ and third quarter of 2017.
Northern Mindanao was followed by Central Luzon and Central Visayas with 1.35 million tons and 0.89 million tons, respectively.
Total outflow and inflow value in the fourth quarter of 2017 totaled P176.39 billion. It went down by 2.9% from P181.64 billion recorded in the same quarter a year ago.
Outflow refers to the total quantity value of commodities which goes out of the specified region or province, while inflow refers to the total quantity value of commodities coming into the specified region. Trade balance is the difference between the outflow and inflow.
Among the regions, the National Capital Region (NCR) again registered the highest outflow value amounting to P33.26 billion or 18.9% of the total outflow. It was followed by Western Visayas and Central Visayas with P28.31 billion and P27.54 billion, respectively.
Meanwhile, Bicol Region had the highest inflow value amounting to P29.13 billion, or 16.5% share of the total inflow in the fourth quarter of 2017. Cagayan Valley posted the lowest inflow value with value amounting to P59.17 million.
Eight regions exhibited positive trade balances in the fourth quarter of 2017. Eastern Visayas posted the highest trade balance of P16.91 billion, followed by Central Luzon with P12.77 billion. Other regions to log a positive trade balance were Central Visayas, P12.55 billion; Northern Mindanao, P12.54 billion; NCR, P6.88 billion; Davao Region, P5.41 billion; SOCCSKSARGEN, P3.96 billion; and ARMM, P1.73 billion.
